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Ohio AG Cordray Files Suit Against GMAC Mortgage for Fraudulent Foreclosures
In a lawsuit filed against GMAC Mortgage and its parent, Ally Financial Inc., Ohio Attorney General Richard Cordray has accused the loan servicer and its agents of filing fraudulent affidavits to...
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Illinois AG Madigan Launches Probe into Major Lenders for Foreclosure Violations
Illinois Attorney General Lisa Madigan has demanded that 23 additional loan servicers provide the Illinois Office of the Attorney General with information concerning the fairness and accuracy of their...
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MERS CEO R.K. Arnold Addresses Company Operations
Mortgage Electronic Registration Systems (MERS) Chief Executive Officer R.K. Arnold has issued the following statement regarding the organization and clarifying certain aspects of its operations: “MERS...
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Stevens Warns FHA-Approved Servicers to Adhere to Quality Control Plan
Federal Housing Administration (FHA) Commissioner David H. Stevens has released a statement cementing the FHA's position of the latest rash of foreclosure issues that have plagued the servicing...
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California AG Brown Calls on Banks to Stop Foreclosures in California
Following his office's negotiations with the state's top loan servicers and the recent announcement by Bank of America that it is temporarily halting foreclosures nationwide, California Attorney...
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New York Attorney General Cuomo Demands Foreclosure Information From Top...
New York Attorney General Andrew M. Cuomo has announced that he is seeking information from four major mortgage servicers—Bank of America, JP Morgan Chase, Wells Fargo and GMAC Mortgage/Ally—concerning...
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California Joins Coalition to Protect Homeowners Facing Foreclosure
California Attorney General Edmund G. Brown Jr. has announced that California has joined a coalition of 49 attorneys general and dozens of state banking regulators in a multi-state effort to demand...
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UPDATE: JPMorgan Chase to Stop Using MERS
UPDATE: Mortgage Electronic Registration System (MERS) has released a statement in regards to JPMorgan Chase's earlier announcement that it was no longer using MERS: "JPMorgan Chase is a valued member...
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Ohio Attorney General Cordray Seeks Preliminary Injunction in GMAC...
Through a request for a preliminary injunction filed in the Lucas County Court of Common Pleas, Ohio Attorney General Richard Cordray is seeking to prevent GMAC Mortgage LLC from completing foreclosure...
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Ohio Attorney general Cordray Concerned About Bank of America Resuming...
In response to reports that Bank of America plans to restart foreclosures on borrowers in 23 states where issues of possibly fraudulent documentation have been raised, Ohio Attorney General Richard...
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Rep. Maxine Waters Criticizes Bank of America and GMAC for Resuming Foreclosures
California Congresswoman Maxine Waters (D-CA), who chairs the House Financial Services Housing and Community Opportunity Subcommittee, criticized the Bank of America following its announcement that it...
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JPMorgan Chase Set to Resume Foreclosures Again Within Two Weeks
Charlie Scharf, chief executive of JPMorgan Chase & Company's retail bank, has announced that the bank will again begin filing paperwork in two weeks on nearly 127,000 foreclosures that were...
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NCLC Testimony: There is an Urgent Need to Reform a Broken Housing Finance...
The "robo-signing" scandal that has exposed illegal practices by servicers of mortgage loans has also showed the urgent need to reform a broken system that is plagued with abuses, lacks adequate...
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Illinois AG Madigan Files Legislation to Reform the Foreclosure Process to...
Illinois Attorney General Lisa Madigan has filed legislation designed to reform the foreclosure process to protect homeowners. Madigan’s legislation is the first of its kind in the country to address...
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Florida Attorney Retracts Robo-Signing Allegations Against Nationwide Title...
A Florida foreclosure attorney who categorized Nationwide Title Clearing (NTC), a document and services provider for the residential mortgage industry, as a robo-signer and perpetrator of foreclosure...
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