From his office overlooking the gold-gilded Iowa State Capitol, Tom Miller is confronting the reality of how hard it is to get all 50 state attorneys general to agree on anything. The 66-year-old Mr. Miller, up for re-election Tuesday to his eighth four-year term as Iowa’s top law-enforcement official, leads the nationwide investigation into the foreclosure mess that erupted in September. The attorneys general are scrutinizing whether home-loan servicers violated state laws against deceptive practices by submitting affidavits and foreclosure documents without confirming the paperwork’s accuracy. The investigation could lead to civil charges and inescapable pressure on financial institutions to rewrite a mountain of mortgages. Already, there are signs that state officials are working together closely to gain more leverage over companies such as Bank of America Corp., Wells Fargo & Co. and J.P. Morgan Chase & Co.
One probe, 50 states, high stakes
Most Popular Articles
Latest Articles
The best real estate podcasts for agents and brokers in 2024
The best real estate podcasts to motivate, inspire, entertain and enlighten you this year.
-
Home sellers saw their profits shrink in the first quarter: Attom
-
If reelected, Trump could seek greater control over Federal Reserve
-
Acra CEO Keith Lind on staying the course amid choppy waters in non-QM
-
HUD walks back some proposed changes to HECM for Purchase program
-
Retirement confidence hasn’t fully recovered, but survey shows hope for future prospects