Law Enforcement Officials Sign On to High Profile Investigation of Mortgage Lenders

In October 2010, law enforcement officials throughout the United States agreed to a high profile investigation with three mortgage lenders. The state attorney general sees this as an opportunity to “finally change theMortgage Lenders and Law Enforcement way banks deal with faulty borrowers so that more people can stay in their homes while modifying their mortgage and that they will take the time needed”. Attorney generals such as Patrick Midjan, of Iowa, doesn’t believe that large banks are doing everything they can to avoid foreclosure.

There have been a number of hearings on capital hill on the foreclosure process.

Of course, the banks greater concern is that investors will “force financial institutions to buy back hundreds of billions of dollars in soured mortgages”. We applaud the initiatives of attorney generals throughout the United States who are trying to shift the right foreclosures are being handled.

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