Dual state probe into foreclosures
December 6, 2011
A joint investigation into mortgage abuses by the nation’s largest banks will team the attorneys general of California and Nevada, two states hit hardest by foreclosures. [SacrementoBee]
The collaborative effort of California Attorney General Kamala Harris and Nevada Attorney General Catherine Cortez Masto was announced in Los Angeles today. The officials believe it will help accelerate investigations already under away.
“The mortgage crisis is a man-made disaster that has taken a heavy toll on the country, but it saved its worst for California and Nevada,” Harris said. “The mortgage crisis is a law enforcement matter, and we will prosecute to hold accountable those who are responsible.”
Harris has targeted such institutions as Fannie Mae, Freddie Mac, Bank of America Corp., and Lender Processing Services Inc.
Default filings in California increased by 13 percent in October as lenders have ramped up foreclosure efforts.