Mortgage Foreclosure

A Florida law firm that is representing homeowners in foreclosure actions has posted videos of its depositions of a number of alleged robo-signers. These videos are very much worth sitting through. 

Within hours of an update from Wells Fargo on foreclosure affidavits, Ohio Attorney General Richard Cordray has come out swinging. 

The mortgage foreclosure morass has taken another turn: Ohio Attorney General Richard Cordray has filed an amicus brief in a state court home foreclosure proceeding brought by GMAC, asking the court to consider evidence that GMAC committed fraud that tainted the entire judicial process. 

With federal and state regulators investigating mortgage foreclosure practices and courts continuing to press mortgage holders on documentation and other legal requirements, it is not surprising that lawyers are getting ready to join the battle. Consider, for example, what the Luce Forward law firm is now doing. 

At the Federal Reserve System and Federal Deposit Insurance Corporation Conference on Mortgage Foreclosures and the Future of Housing today in Arlington, Virginia, Fed Chairman Ben S. Bernanke added the following to his welcoming remarks: 

More and more requirements are being imposed on banks seeking to foreclose on home mortgages. We told you yesterday about the new filing obligation facing New York lawyers representing foreclosing mortgage holders.

The New York State court system has instituted a new filing requirement in residential foreclosure cases “to protect the integrity of the foreclosure process and prevent wrongful foreclosures.” New York Chief Judge Jonathan Lippman today announced that plaintiffs' counsel in foreclosure actions are now required to file an affirmation certifying that they have taken reasonable steps – including inquiry to banks and lende

White House Press Secretary Robert Gibbs says the federal government is now investigating the "foreclosure process." In a statement, Gibbs said the following:

In response to reports that Bank of America is restarting foreclosures on borrowers in 23 states where issues of possibly fraudulent documentation have been raised, Ohio Attorney General Richard Cordray issued the following statement:

Bank of America is resuming foreclosure actions. The nation’s largest bank says that it has “reviewed our process for resubmission of foreclosure affidavits in the 23 judicial states with key stakeholders, including our largest investors” and that it is beginning the process of “preparing foreclosure affidavits for submission in 102,000 foreclosure actions in which judgment is pending.”