Banks bad record keeping is coming back to haunt them. Unable to produce the original mortgage note, courts are not allowing banks to foreclose on homes. This is especially true of the 19% of mortgages that have been bundled into securities by private banks.

 

Submitted: Feb 22, 2008    Views: 325    Comments: 0    Likes: 1   


View Article: http://www.bloomberg.com/apps/news?pid=20601109&sid=aejJZdqodTCM&re...


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