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TierOne Shutting Offices in Six States

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TierOne said that it will close all nine of its loan production offices and will focus instead on lending through bank branches in its home markets of Iowa, Kansas, and Nebraska.

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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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