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Recommend “Adriana Barnes” - Bank Foreclosures Are Becoming A Long Term Universal Nightmare (Email)

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Adriana Barnes

March 31, 2011

http://dailynewspulse.com/bank-foreclosures-are-becoming-a-long-term-universal-nightmare/2215428/

Representatives of the five largest mortgage servicers — Bank of America Corp., JPMorgan Chase & Co., Wells Fargo & Co., Citigroup Inc. and Ally Financial Inc.— met with government officials in Washington on Wednesday. They discussed a settlement of investigations into problems in the foreclosure process, including bank employees signing documents without reading or understanding them, a practice called robo-signing. Iowa Atty. Gen. Tom Miller, who is leading the negotiations for the states, said that the session was a good first meeting but that no agreement was imminent. Attorneys general of all 50 states and representatives of seven federal agencies are investigating the foreclosure troubles.

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