"Homeowner Settlement"? what does it mean?

[8537]

They committed fraud. They got caught. For 26B, they made the problem go away.

I realize where this is going to go, as you can never defend any position because your brain power resembles a kitchen sink.
But what fraud, exactly, did the entire banking industry commit that they are forced to pay $26B?

1) It wasn't the entire industry. It was the five firms who are taking part in this agreement.
2) They've admitted to robosigning and other instances of fraud
3) These banks aren't paying 26B.

 

[8537]

IOW there was no fraud. It is merely a procedural issue.

Holy shit.