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SI Financial's Deal for Connecticut Mortgage Company Called Off

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SI Financial Group Inc. in Willimantic, Conn., said Monday that it has terminated its deal to buy Fairfield Financial Mortgage Group Inc. in Danbury, Conn., because of anticipated changes in the regulation of mortgage companies.

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The $25 billion mortgage robo-signing settlement is:
Political extortion from the banks in an election year
A slap on the wrist — the banks put reserves away for this long ago, they won't even feel it
A source of relief for both banks and homeowners that could help the housing market and economy recover
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