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Mortgage Fraud Settlement: Biggest Since Tobacco Cases

Last February, Florida Attorney General and 48 other states entered into a settlement agreement with five of the nation’s largest mortgage servicers: Bank of America, Citibank, JPMorgan Chase, Wells Fargo, and Ally/GMAC. Their liability stems from their systemic abuse of the foreclosure process as well as inappropriate mortgage-servicing practices. Read the rest of this entry