U.S. election results could speed foreclosure deal

This election is already affecting the foreclosure-gate investigations

"I think there's a developing consensus among thought leaders that we can't let these documentation concerns constipate the flow of housing from borrowers who have no resources, to those who do," the attorney said.

Cordray acknowledged that concerns about the housing market could lead to a resolution of the AG probe "sooner rather than later," though he said that the election results would not necessarily change the outcome of the probe.

However...

A speedy resolution with the AGs could be complicated by the myriad federal probes underway. The Justice Department, bank supervisors and housing regulators have all said they are examining the issue.

Attorneys involved in the AG investigation have said that fines and procedural fixes could be among the remedies for banks. Loan modifications for borrowers are more contentious because of possible resistance from investors in mortgage backed securities.

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