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Audit reveals foreclosure abuse is rampant

LOS ANGELES (Reuters) – A report this week showing rampant foreclosure abuse in San Francisco reflects similar levels of lender fraud and faulty documentation across the United States, say experts and officials who have done studies in other parts of the country. The audit of almost 400 foreclosures in San…

Still waiting for cleanup in foreclosure mess

If last year was the year in which faulty foreclosures and bank errors became a full-blown scandal, this has been the year of waiting for something to be done about it. First, there’s the still-to-come multi-state settlement over alleged fraud on the part of the country’s five largest mortgage servicers.…

Mass. AG hits big banks with foreclosure lawsuit

(Reuters) – The Massachusetts attorney general has filed a lawsuit against five large U.S. banks accusing them of deceptive foreclosure practices, such as robo-signing. Attorney General Martha Coakley said on Thursday the lawsuit was filed in state court inBoston against Bank of America Corp, JPMorgan Chase & Co Inc, Citigroup Inc, Wells Fargo & Co and Ally Financial.…

Obama task force probing banks on foreclosures, criminal charges possible

In the still-developing “mortgagegate” scandal, the Obama White House is pledging its loyalties to the letter of the law, vowing Tuesday to hold “accountable” any bank that engaged in foreclosure fraud. “As institutions are determining their next steps in addressing these issues, we remain committed to holding accountable any bank…

‘Foreclosure mill’ gave employees jewelry, cars, houses to forge documents: testimony

According to sworn statements released by the Florida Attorney General’s office, one of the state’s “foreclosure mills” bribed employees with jewelry, cars and houses to forge and alter documents required by courts conducting foreclosure proceedings. Kelly Scott and Mary Cordova, two former employees of Florida attorney David J. Stern, were…

Foreclosure activity up across most US metro areas

Report: Most large US metro areas saw spike in foreclosure warnings between January-June. Households across a majority of large U.S. cities received more foreclosure warnings in the first six months of this year than in the first half of 2009, new data shows. The trend is the latest sign that…

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