A case out of Utah shows the state willing to serve as sole plaintiff in a lawsuit filed against a foreclosing bank even after the impacted homeowner settled.

Tom Harvey with The Salt Lake Tribune describes how homeowners who sued Bank of America (Countrywide) ended up settling with BofA and getting their loan reduced from $3 million to $1.1 million.

But the state is not dropping its own case after intervening in the suit. Utah officials are still asserting in court that the bank’s ReconTrust Co. unit illegally carried out foreclosures in the state of Utah.

The remaining litigation revolves around the issue of whether ReconTrust was in violation of state statutes when it foreclosed on dozens of homes in the state.

Read Tom Harvey’s full article

Most Popular Articles

CFPB to consider changing or eliminating TRID rule

The CFPB has been taking a long, hard look at some of its rules and regulations. Next up on its list to review is TRID, and it looks like eliminating the rule entirely is not off the table.

Nov 20, 2019 By

Latest Articles

Americans are staying put in record numbers

The share of people who moved in the 12 months through March fell to the lowest level on record, adding to the woes of a housing market plagued by supply shortages.

Nov 21, 2019 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please