The proposed national settlement with the five largest U.S. banks over foreclosure fraud seems to be in further jeopardy today, following a massive expansion by the state of Nevada of its lawsuit against Bank of America.
Nevada's attorney general charges that Bank of America and the now-defunct mortgage giant Countrywide acquired by the bank in 2008, deceived borrowers and investors at almost every stage of the process.
Several states are planning to spend their share of the $25 billion foreclosure fraud settlement brokered with the nation’s biggest banks on things other than helping homeowners, even though the point of the settlement was to addres... Read Post
The nation’s five biggest banks agreed to a $25 billion foreclosure fraud settlement back in February that required them to provide $17 billion of mortgage relief to troubled homeowners. However, one of the banks, Bank of America, i... Read Post