QWANZ

New York Attorney General Eric Schneiderman was taken off from the committee leading the 50-state task force assigned with the challenge of probing foreclosure abuses, like “robo-signing and illegal home seizure, by the country’s top five largest mortgage firm. It also tasked to negotiate a possible settlement agreement with these same firms....   >>>

New York Attorney General Eric Schneiderman was taken off from the committee leading the 50-state task force assigned with the challenge of probing foreclosure abuses, like “robo-signing and illegal home seizure, by the country’s top five largest mortgage firm. It also tasked to negotiate a possible settlement agreement with these same firms.



Problem is, the state prosecutor and federal officials seem more keen to complete a proposed settlement rather than conducting a thorough investigation. To date, only a very limited investigation has been done leaving the question concerning the extent to which irregularities were done largely unanswered.



The Huffington Post reported last month. Elizabeth Warren, who until recently was a senior adviser to President Barack Obama and Treasury Secretary Timothy Geithner, told a congressional panel last month that government agencies may not have sufficiently investigated claims that borrowers' homes were illegally seized.



Schneiderman, a Democrat who's in his first term as New York's top law enforcer, has been among a group of state legal officers who has also questioned the desire for a speedy resolution. He's leading his own investigation into mortgage improprieties, subpoenaing documents from the nation's largest financial institutions and reviewing court records for possible illegal home repossessions.



The Obama administration officials -- in particular, Treasury Secretary Timothy Geithner and HUD Secretary Shaun Donovan -- have publicly stated on numerous occasions that they want a quick resolution to the 50-state mortgage probe.