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N.Y. Attorney General Schneiderman Accuses Banks, Mortgage Registry of Illegal Foreclosures

Posted by mortgage 23 hours ago (Editorial)

The lawsuit accuses banks of creating a registry service that fails to accurately track mortgage ownership and lacks any legal authority to initiate foreclosures.

Busy Day In The Mortgage Morass: Judge Allows Class Action Against Goldman

Posted by mortgage 23 hours ago (Editorial)

Judge certifies class action status for investors in $698 deal backed by risky mortgages.

New York sues banks over electronic mortgage system

Posted by mortgage 23 hours ago (Editorial)

NEW YORK (Reuters) - New York State Attorney General Eric Schneiderman on Friday sued three major U.S. banks, accusing them of fraud for using an electronic mortgage database that resulted in deceptive and illegal practices. Schneiderman filed the lawsuit against Bank of America Corp , Wells Fargo & Co and JPMorgan Chase & Co in New York state court in Brooklyn. The lawsuit is over the banks ...