Monday Set For Big Meeting on Robosigning Settlement

State attorneys general will meet Monday to discuss a potential settlement with bank servicers over the robo-signing scandal, according to a spokesman for Iowa AG Tom Miller.

Over the past week, the AGs received settlement documents that were tentatively accepted by several players including the banks, the AGs’ negotiating teams, HUD, and Department of Justice officials at a Washington meeting on Jan. 12.

Iowa AG spokesman Geoff Greenwood told National Mortgage News that Democratic state AGs will meet Monday in Chicago. The prosecutors have invited HUD secretary Shaun Donovan and U.S. associate AG Thomas Perrelli to participate.

Secretary Donovan and Perrelli also will participate in a conference call on Monday with the Republican state AGs.

“Hopefully, this is going to take us one step closer to a potential settlement,” Greenwood said. He noted that the settlement documents are “massive” and there is much to digest.

The meetings are an opportunity for the state AGs to talk with the negotiating teams and “ask questions and express any concerns,” the spokesman said.

Article source: http://www.nationalmortgagenews.com/dailybriefing/2010_520/monday-meeting-robosigning-settlement-1028439-1.html

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