Four Major Investigations into Nation Wide Foreclosure Practices

There are four major investigations under way with the American banks who process home foreclosures, these include:Foreclosure Bank Invesitigations

  1. Investigation: by 50 state Attorney Generals who are examining the foreclosure process.
  2. A Justice Department’s executive office for the US Trustee. US trustees over see bankruptcies and they are examining whether or not banks and their law firms and inflating the amount that they say or do in Chapter 13 bankruptcy.
  3. Federal Housing Administration. They are investigating whether banks are foreclosing on government insured loans without first pursuing legally required options.
  4. Federal Reserve. They are investigating whether systematic witness cause improper foreclosures.

President Obama has established the Financial Fraud Enforcement Task Force to coordinate many of the investigation. Melanie Russell of the Obama Administration’s spokesman was quotes as saying “the administration is committed to taking appropriate action of these issues where wrong-doing has occurred”.  – New York Times

 

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