First Major State Lawsuit Filed Over ‘Robo-Signing’
Massachusetts has filed the first major lawsuit over so-called
Palm Coast, FL – December 2, 2011
After a year of fruitless negotiations between major U.S. banks and the nation’s state attorneys general, Massachusetts has filed the first major lawsuit over so-called "robo-signing" foreclosure processing.
Attorney General Martha Coakley filed suit against Bank of America [BAC 5.64 0.11 (+1.99%) ], JP Morgan Chase [JPM 32.33 1.87 (+6.14%) ], Citi [C 28.17 1.18 (+4.37%) ], Ally Financial and Wells Fargo [WFC 26.07 0.43 (+1.68%) ], as well as the MERS corp (Mortgage Electronic Registration System, Inc.)
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