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  Martha Coakley Sues Five Major US Banks Over Foreclosure Fraud
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ContributorCOSDem 
Last EditedCOSDem  Dec 01, 2011 11:25pm
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News DateFriday, December 2, 2011 05:25:00 AM UTC0:0
DescriptionMassachusetts Attorney General Martha Coakley plans to sue the five biggest banks in the mortgage business over “unlawful and deceptive conduct” in their foreclosure operations. A news conference is scheduled at 1pm ET to detail the charges, which were filed in Suffolk Superior Court.

This is at least the third recent lawsuit from state Attorneys General against banks and affiliated companies for their foreclosure practices. Nevada’s Catherine Cortez Masto sued Bank of America for fraudulent practices related to a prior settlement on Countrywide loans (she also recently filed a 606-count criminal indictment against two LPS employees for robo-signing). And Delaware AG Beau Biden sued MERS, the electronic registry owned by the big banks, for deceptive practices. In addition, New York’s Eric Schneiderman has a wide-ranging investigation into foreclosure and securitization fraud, with a number of subpoenas out for documents. And California’s Kamala Harris just filed subpoenas against Fannie Mae and Freddie Mac over mortgage servicing and securitization.
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