Moments before he was scheduled to make a statement on the mortgage servicing settlement Tuesday night, New York Attorney General Eric Schneiderman postponed the conference call indefinitely.
Schneiderman is reportedly among the AG's that have not yet signed on to the $25 billion multistate settlement. He was scheduled to speak with reporters about the settlement at 6 p.m. But at 5:50 p.m., his office sent an email advisory that the call had been "postponed indefinitely." A spokeswoman for Schneiderman did not respond to a request for further information.
The New York AG has been among the most vocal critics of the settlement, which would provide roughly $17 billion in direct relief for borrowers. Some saw his recent appointment as the head of a special mortgage investigation unit as a way to bring Schneiderman back to the table, and allow him to pursue investigations related to the packaging and sale of residential mortgage-backed securities before the financial crisis.
Forty states had signed onto the deal as of Monday night, Iowa Attorney General Tom Miller said in a statement. Miller's office would not comment on which states had joined the agreement.
