Foreclosure talks accelerate between banks, state officials

11/18/2010 | Wall Street Journal, The

State attorneys general and major banks are ramping up their discussions into the probe of foreclosure practices, with officials seeking a revamp of the loan-modification process, sources said. The overhaul would go beyond tackling the issue of "robo-signers." JPMorgan Chase, Citigroup and Bank of America have accelerated the pace of their talks or are planning meetings with key officials. Executives from Ally Financial's GMAC Mortgage division recently met with the group of state attorneys general leading the investigation.

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