Wednesday, September 28, 2011

'Criminal Charges Coming To A Mortgage Servicing Racket Near You!': Nevada AG

HousingWire reports:

  • Mortgage servicers could soon face criminal actions in Nevada, according to the state Attorney General Catherine Cortez Masto.

  • Masto reportedly opposed releasing the largest servicers from future criminal liability. Earlier in September, Iowa AG Tom Miller, who is leading the settlement talks, pledged the final agreement would not indemnify the banks from any criminal actions and not all civil suits. Miller's office further clarified that immunity from criminal prosecution is not and never has been part of the settlement negotiations.

  • "Criminal actions are likely coming to the industry soon," a spokesperson for Masto's office told HousingWire Wednesday, though no other details were provided.

For more, see Nevada AG: Criminal actions coming to servicing industry soon.

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