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Home » Store » News » Mass. A.G. the Latest to Act Against Lenders

Mass. A.G. the Latest to Act Against Lenders

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In a move that further complicates the 50-state settlement discussions between the mortgage servicing industry and state attorneys generals, Massachusetts Attorney General Martha Coakley, D, has sued a handful of top mortgage lending banks for allegedly pursuing illegal foreclosures and “deceptive loan servicing.”The targets of Coakley’s actions are Bank of America, Wells Fargo, JP Morgan Chase, Citi and GMAC, as well as Mortgage Electronic Registration System, Inc.“The single most important thing we can do to return to a healthy economy is to address this foreclosure crisis,” Coakley said. “Our suit alleges that the banks have charted a destructive path by cutting corners and rushing to foreclose on homeowners without following the rule of law. Our action today seeks real accountability for the banks’ illegal behavior and real relief for homeowners.”
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