Massachusetts is suing five major banks including Bank of America Corp. and JPMorgan Chase & Co. over deceptive foreclosure practices.
The lawsuit also names Wells Fargo & Co., Citigroup Inc., and Ally Financial. It was filed in Massachusetts on Wednesday by Attorney General Martha Coakley.
The complaint also names Mortgage Electronic Registration System Inc. and its parent company as defendants.
The lawsuit is seeking redress for what the attorney general called “unlawful and deceptive” conduct in the foreclosure process, including unlawful foreclosures, false documentation, robo-signing, and deceptive practices related to loan modifications.
(Source: NY Times)
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One Response
Is this truely newsworthy or has it become yet another “Dog bites man” story. It would be newsworthy (the equivalent of “Man bites dog”) if a bank and its lawyers complied with the foreclosure laws by doing the proper paperwork instead of relying on the homeowner (who is usually bankrupt at this point) be too lazy, uneducated in law or disheartened to notice that the paperwork wasn’t done.