Delaware Opposes $25B Mortgage Settlement With Lenders

Law360, New York (January 24, 2012, 7:00 PM EST) -- Delaware Attorney General Beau Biden is poised to reject a proposed settlement between state and federal governments and major lenders that could provide up to $25 billion in relief to homeowners facing foreclosure in exchange for a halt on future lawsuits alleging deceptive practices leading to the housing crisis, a spokesman for Biden said Tuesday.

The proposed deal between the attorneys, the U.S. Department of Housing and Urban Development and the U.S. Department of Justice was discussed Monday at a meeting of attorneys general in Chicago,...
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