California Real Estate Fraud Report

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California, Nevada Attorneys General Unite to Fight Mortgage Fraud

The Attorneys General for California and Nevada announced at a press conference today that they have joined forces and formed a Mortgage Investigation Alliance.

California AG Kamala D. Harris and Nevada AG Catherine Cortez Masto are pooling investigative sources, data and evidence and will share litigation strategies in order to battle foreclosure fraud and mortgage fraud. Not only will “mortgage rescue” firms be targeted but apparently also those in the mortgage industry who may have engaged in misconduct.

Nevada has filed suit against Bank of America and Countrywide Lending for violating a Consent Judgment, for irregularities in both mortgage origination and servicing.

According to the press release by the California Office of the Attorney General, one out of every 180 Nevada properties received a Notice of Default (NOD) in October 2011; one in every 243 California homes received an NOD in October. Both states have the dubious distinction of being leaders in the number of foreclosures that property owners have suffered.

© Copyright 2007-2017 Monique Bryher

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The information and notices contained on The California Real Estate Fraud Report are intended to summarize recent developments in real estate fraud, mortgage fraud, short sale fraud, REO fraud, appraisal fraud, loan modification scams, loan modification fraud and other real estate related crimes occurring in Los Angeles and California. The posts on this site are presented as general research and information and are expressly not intended, and should not be regarded, as legal advice. Much of the information on this site concerns allegations made in civil lawsuits and in criminal indictments. All persons are presumed innocent until convicted of a crime. Readers who have particular questions about real estate fraud, mortgage fraud and appraisal fraud matters or who believe they require legal counsel should seek the advice of an attorney.

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