Citigroup, Ally/GMAC, MERS Face Civil Racketeering Class Action Filed On Behalf Of Kentucky Homeowners Facing Foreclosure

Bloomberg News reports:

• Citigroup Inc. and Ally Financial Inc. units were sued by homeowners in Kentucky for allegedly conspiring with Mortgage Electronic Registration Systems Inc. to falsely foreclose on loans. The lawsuit, filed as a civil-racketeering class action on behalf of all Kentucky homeowners facing foreclosure, also names as a defendant Reston, Virginia-based MERS, the company that handles mortgage transfers among member banks. The suit claims that through MERS the banks are foreclosing on homes even when they don’t hold titles to the properties.

For more, see Citigroup, Ally Sued for Racketeering Over Database.