The lawsuit accuses banks of creating a registry service that fails to accurately track mortgage ownership and lacks any legal authority to initiate foreclosures.
Published News » Subprime Mortgage
N.Y. Attorney General Schneiderman Accuses Banks, Mortgage Registry of Illegal Foreclosures
Posted by mortgage 23 hours ago (Editorial)
Have Economists Got It Wrong About The U.S.?
Posted by mortgage 23 hours ago (Editorial)
Five years ago, Federal Reserve head Ben Bernanke said the housing sector wasn't a major economic concern. In fact, most experts failed to see the looming subprime mortgage crisis that sank the U.S. economy. If they were so wrong about the Great Recession, it's possible they could also be blind to a "Great Recovery."
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 ...
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