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Ely
Ely, Counselor at Law
Category: Real Estate Law
Satisfied Customers: 100033
Experience:  Qualified attorney in private practice including business, family, criminal, and real estate issues.
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With the Federal States National Mortgage Settlement of

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With the Federal States National Mortgage Settlement of 2012, is the States Civil Courts to adhere to the regulations established for those banks mentioned?
Submitted: 1 year ago.
Category: Real Estate Law
Expert:  Ely replied 1 year ago.

Hello and welcome to JustAnswer. Please note:This is general information for educational purposes only and is not legal advice. No specific course of action is proposed herein, and no attorney-client relationship or privilege is formed by speaking to an expert on this site. By continuing, you confirm that you understand and agree to these terms.

The answer is yes. The settlement is binding and may be enforced in the Court. Violations by the lenders of provisions under the settlement may have them liable in state courts under "negligence per se," for example.

However, note that loans owned by Fannie Mae or Freddie Mac are not impacted by this settlement.

I hope this helps and clarifies. Please use the SEND or REPLY button to keep chatting, or please RATE when finished. You may always ask follow ups at no charge after rating. Kindly rate my answer as one of TOP THREE FACES/STARS and then SUBMIT, as this is how experts get credit for our time. Rating my answer the bottom two faces/stars (or failing to submit the rating) does not give me credit and reflects poorly on me, even if my answer is correct. I work very hard to formulate an informative and honest answer for you; please reciprocate my good faith with a positive rating.

Expert:  Ely replied 1 year ago.

Hello again. This is a courtesy check in to see if you needed anything else in regards ***** ***** question. I am simply touching base. Let me know. Thanks!

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