US, States Send Foreclosure Settlement Terms to Banks

Friday, 04 Mar 2011 12:53 PM

 

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State attorneys general and federal agencies submitted to banks a proposal for settling an investigation into foreclosure procedures that will be used for further negotiations with the companies.

The 27-page document was made yesterday to mortgage- servicers, Geoff Greenwood, a spokesman for Iowa Attorney General Tom Miller, said in an e-mail.

In an interview, Greenwood declined to comment about terms of the proposal sent to banks by the attorneys general and federal agencies, including the Justice Department and the Department of Housing and Urban Development.

“This is a document that sets a foundation for negotiations with the nation’s largest servicers,” he said.


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