Post by caseagainstfaith on Dec 1, 2011 13:31:19 GMT -5
Massachusetts Attorney General Martha Coakley is suing five major banks over alleged unlawful and deceptive foreclosure practices. Coakley’s suit against Bank of America, JPMorgan Chase, Citi, Wells Fargo and Ally Financial is another blow to the nationwide foreclosure settlement that’s being negotiated between the largest banks and dozens of state attorneys general.
“The AG’s lawsuit seeks accountability for the banks’ unlawful and deceptive conduct in the foreclosure process, including unlawful foreclosures, false documentation and robo-signing, MERS, and deceptive practices related to loan modifications,’’ the news release from Coakley’s office said.
Coakley isn’t the first AG to break from what was originally a 50-state investigation on improper foreclosure practices. In September California AG Kamala Harris pulled her state out of a nationwide foreclosure probe of some of the nation’s biggest banks over their shady foreclosure practices.
There’s been talk that Harris is still open to participating in a national settlement but back in September she said the reason for her decision to pull out was “the nation’s five largest mortgage servicers were not offering California homeowners relief commensurate to what people in the state had suffered.”
“The AG’s lawsuit seeks accountability for the banks’ unlawful and deceptive conduct in the foreclosure process, including unlawful foreclosures, false documentation and robo-signing, MERS, and deceptive practices related to loan modifications,’’ the news release from Coakley’s office said.
Coakley isn’t the first AG to break from what was originally a 50-state investigation on improper foreclosure practices. In September California AG Kamala Harris pulled her state out of a nationwide foreclosure probe of some of the nation’s biggest banks over their shady foreclosure practices.
There’s been talk that Harris is still open to participating in a national settlement but back in September she said the reason for her decision to pull out was “the nation’s five largest mortgage servicers were not offering California homeowners relief commensurate to what people in the state had suffered.”
source - www.forbes.com/sites/halahtouryalai/2011/12/01/massachusetts-sues-bofa-jpm-citi-wells-fargo-over-unlawful-foreclosures/
Good luck Massachusetts, hit those bastards hard in the pocketbook! Hopefully other states will join in on suing the banks as well.