Massachusetts Sues Five Banks for Foreclosure Servicing; Nevada and California AGs Announce Joint Investigation
December 8, 2011
Massachusetts Attorney General Martha Coakley sued five major lenders late last week for allegedly illegal foreclosure practices. One of the firms, GMAC Mortgage, responded by pulling out of Massachusetts lending, prompting Coakley to request a Congressional investigation of GMAC. This week, the AGs of California and Nevada followed suit with a joint announcement of a dual mortgage fraud probe. We have two clear goals with this lawsuit, Coakley said. One is to provide for real accountability for the roles the banks have played in unlawful and illegal foreclosures and second...