posted on Dec, 1 2011 @ 02:56 PM
NEW YORK (AP) — Massachusetts sued five major banks Thursday over deceptive foreclosure practices such as the "robo-signing" of documents,
potentially undermining negotiations between lenders and state prosecutors across the nation over the same issue.
The lawsuit named Bank of America Corp., JPMorgan Chase & Co., Wells Fargo & Co., Citigroup Inc., and GMAC. It was filed in Massachusetts by Attorney
General Martha Coakley.
"We have two clear goals with this lawsuit — one is to provide for real accountability for the role the banks have played in unlawful and illegal
foreclosures, and secondly to provide for real and enforceable relief for the harm that the misconduct has caused," said Coakley in a press conference
to announce the lawsuit.
The lawsuit also named Mortgage Electronic Registration System, Inc. and its parent company as defendants. The company, a mortgage registry database,
has been accused of shoddy record-keeping in large numbers of foreclosure proceedings.
This is great news!
I also added this comment to page six of this thread regarding Mass. voiding foreclosure sales from the past five years. This is just another
development, but felt that it needed its own thread.
Here is the thread from Iamonlyhuman:
Here is a thread I posted last week about investigations underway nation wide regarding foreclosures:
I am getting so excited about all of this I can barely contain myself.
I can't wait to see how this all pans out. I'm sure it won't be long before other states follow suit (no pun intended). I wish Florida would be next,
but Pam Bondi, our wonderful Attorney General, is currently under investigation for firing her investigators who discovered the robosigning. Bondi
needs to resign.
Here's a thread about that:
edit on 1-12-2011 by Afterthought because: (no reason given)
edit on 1-12-2011 by Afterthought because: (no reason