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On Wednesday, the nation's attorneys general vowed to do their own inquiry into whether mortgage servicers filed flawed paperwork to justify foreclosures.
Also Monday, Bank of America and nine other lenders agreed to an $8.5 billion settlement with banking regulators to resolve claims of foreclosure abuses that included flawed paperwork and bungled loan modifications.
This month, Bank of America and Citigroup, along with eight other banks, signed a sweeping $8.5 billion settlement with the Federal Reserve and the Office of the Comptroller of the Currency over foreclosure abuses like erroneous fees and flawed paperwork.
"It is a serious problem," said David Axelrod, who said that the flawed paperwork was hurting the nation's housing market as well as lending institutions.
Every attorney general in the country is participating in an investigation into the flawed paperwork and questionable methods behind many of them.
Federal regulators on Monday reached an $8.5 billion settlement with 10 major lenders to resolve claims of foreclosure abuses, including the use of flawed paperwork and bungled loan modifications that may have led to wrongful evictions.
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But industry leaders say the H-2A program is flawed — too expensive and paperwork-intensive — and cannot alone solve a serious labor shortage in the industry.
Now, as relatives of firefighters who have died begin navigating thickets of insurance claims and benefits paperwork, some are criticizing what they call flawed and unfair government rules that create a posthumous imbalance among firefighting families.
They also argued that organizational paperwork for the political action group Newporters for Ethical Government — for which Rush wrote — was flawed.
And in the wake of the scandal involving shoddy, sometimes illegal paperwork that has buffeted the nation's biggest banks in recent months, critics say these situations reinforce their claims that the foreclosure process is fundamentally flawed.
Albeit flawed.
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