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Mr. Davis's settlement with the trustee requires the approval of the bankruptcy court, which will hold a settlement hearing on May 13.
Two of the main provisions are firsts for New York State: One requires lenders to warn borrowers in writing at least 90 days before starting foreclosure proceedings, and the other requires the courts to hold a settlement conference between the lender and a subprime borrower facing foreclosure.
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He cites a 1998 Texas Supreme Court ruling that held a settlement is valid despite later fraud claims, as long as the parties say they are acting on their own and not relying on anything the other side said or did.
Judge Holwell resigned last month to enter private practice, but another judge is expected to hold a hearing on the settlement proposal and then decide whether to approve it.
On Thursday, Facebook is expected to price its initial public offering, the Commerce Department will determine tariffs on Chinese solar products, the House Financial Services Committee will hold a hearing on the settlement practices of financial regulators, and the Senate Finance Committee will hold a hearing on the Social Security Administration.
Judge Rakoff will hold a hearing on the new settlement on Monday.
District Court Judge Rakoff will hold a preliminary hearing on the settlement on Monday and rule on it later.
The judge could hold a second hearing on the settlement, which he lambasted two weeks ago, or he could approve or reject it.
If a broker seeks expungement after reaching a confidential settlement with a customer, Finra says arbitrators must review the settlement documents and hold a recorded hearing.
The Big Question is will Obama hold a hard line on Israeli settlements as a part of the peace process?
Two federal judges have questioned such settlements proposed by the Securities and Exchange Commission and this week a third judge held up a settlement offered by the Federal Trade Commission.
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