"There Can Be No Settlement For Pennies On The Dollar!" Two Deed Recording Officials Tell Lead AG In 50-State Foreclosure Fraud Probe

Housing Wire reports:

• Two Registers of Deeds asked Iowa Attorney General Tom Miller [] to postpone a settlement with the nation's largest mortgage servicers until the cost damage to land records is better understood.
• John O'Brien, Register of Deeds of Southern Essex County in Massachusetts, and Jeff Thigpen, Register of Deeds of Guilford County in North Carolina, wrote a letter to the attorney general, stressing the need to appropriately settle terms with servicers based on the amount of damaged practices such as robo-signing caused.
• "We need to take a long hard look at the damage that these banks have caused, not only to our economy but also to people's chains of title," O'Brien commented. "There can be no settlement for pennies on the dollar."

For more, see Registers of Deeds ask Iowa AG to postpone servicer settlement.