Georgia joins complaint for $25B settlement
10:44 am, March 13th, 2012
Georgia State Attorney General Sam Olens has joined with the U.S. Justice Department and other state attorney generals across the nation in a civil complaint against the country’s five largest mortgage servicers that seeks a share of a $25 billion settlement, Olens announced Monday.
The suit, filed in U.S. District Court in Washington , names as defendants Bank of America, Corp., JP Morgan Chase & Col, Wells Fargo & Co., Citigroup Inc. and Ally Financial Inc. . It alleges that the banks’ misconduct “resulted in the issuance of improper mortgages, premature and unauthorized foreclosures, violation of service members’ and other homeowners’ rights and protections, the use of false and deceptive affidavits and other documents, and the waste and abuse of taxpayer funds.”
The civil complaint is an effort by state attorneys general to secure for their states a portion of a $25 billion settlement that the banks reached with the U.S. Justice Department and the U.S. Department of Housing and Urban Development last month. The agreement ends multiple federal investigations involving allegations that the banks or their agents routinely signed foreclosure documents without knowing whether the information contained in the documents was correct.
For more information, see www.NationalForeclosureSettlement.com