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Banks Agree to $25B Mortgage Deal

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  • Description

    FBN’s Charlie Gasparino on the mortgage settlement deal and its potential impact on banks.

  • Duration 2:17
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Business on Tuesday you would have heard right here that the mortgage foreclosure settlement would happen today.

Thursday Charlie Gasparino the first to report -- we saw at last night last night we were first to announce that the deal -- who did the deal and also the surprise nature of the deal where as reported on Tuesday California looked like it was a -- -- part of it.

We also reported that they were trying to government -- Hud secretary Sean -- was trying to get California in the deal.

California is in the deal with New York State so this is a 49 -- the I think Oklahoma's the only.

State added that the best did not in it then they're gonna work to get them in the best part about this as far as I'm concerned.

Is that an office say the word imminent and you hate that word I -- because this dispute this deal as you know Liz.

-- -- we had to has -- imminent for the past year and it's been you know.

I I actually stayed away from use the word imminent throughout the whole thing because I just knew that -- business was like -- fifty cats fifty states attorney's.

General I got it right finally -- -- it will part of this thing they all came together California California's -- moderately budgeted 5049 I guess it -- not in -- that's like -- 49 cats not easy had to deal is mostly soft dollars -- if you look at it.

You know not direct payments to banks are only coughing -- whole -- Of all the banks like five billion in cash shot at the rest of it is all the stuff and refinancings and things like that.

So it's one thing again it's one thing over for the banks -- -- stocks are generally down I think Bank of America like to see a stock chart.

If we could Bank of America I think is somewhat up today but most of this bank stocks are down and the reason why -- -- -- -- else is saying you know listen.

Hate.

This is just beginning they're gonna have to pay more in the future at the -- did on this thing.

Your Bank of America's up marginally.

You know they can get on this and -- -- what they cave in on.

That -- the crime was so ridiculous.

It was global -- -- robo signing is is that a guide that doesn't have the legal perfect legal authority to sign a foreclosure document does it.

The people that would be foreclosed upon his -- largely 99% of them deadbeats.

Our bank but hey you know you went on a technicality -- -- it's it's like it's some of those are your right to commit a murder by -- -- -- -- said exactly this yesterday OK right Charlie well on the story we have -- Say it again.

Good to see if there it.

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