Attorney General McCollum Announces Multistate Effort to Reign in Mortgage Servicers for Deceptive and Unfair Practices

Attorney General Bill McCollum announced last week an  on-going effort to reign in mortgage servicers and protect Floridians from  purported deceptive and unfair practices. Attorney General McCollum, along  with 48 other Attorneys General, are part of a multistate effort to stop  mortgage loan servicers from allegedly submitting affidavits or signing  notices that appear to have procedural defects of either a judicial or  non-judicial foreclosure.

Investigators allege that many mortgage documents have been signed without  personal knowledge of the facts asserted in the documents.  In addition,  it appears that many affidavits were signed outside of the presence of a  notary public. This process of signing documents without confirming their  accuracy has come to be known as “robo-signing” and is in direct violation  of Florida law.

The 49 states are joining together to form a multistate group comprised of  both state Attorneys General and state banks and mortgage regulators to  more effectively address the issue. The multistate group, led by Iowa  Attorney General Tom Miller, plans to speak with all relevant mortgage  servicers as soon as possible to determine whether or not each company has  improperly submitted affidavits or signed notices in support of a  foreclosure in the states. State bank and mortgage regulators are  participating both individually and through their Multistate Mortgage  Committee, which represents mortgage regulators from all 50 states.

Florida is taking a leading role in this multistate initiative as a member  of the Executive Committee of the multistate group.  The Executive  Committee is also comprised of the following Attorneys General Offices:

Arizona, California, Colorado, Connecticut, Illinois, Iowa, North  Carolina, Ohio, Texas, and Washington; and the following state banking

regulators: the Maryland Office of the Commissioner of Financial  Regulation and the New York State Banking Department.

Participating Attorneys General

Alaska

Arizona

Arkansas

California

Colorado

Connecticut

Delaware

Florida

Georgia

Hawaii  Department  of  the  Attorney  General / Hawaii Office of Consumer  Protection  Idaho  Illinois  Indiana  Iowa  Kansas  Kentucky  Louisiana  Maine  Maryland  Massachusetts  Michigan  Minnesota  Mississippi  Missouri  Montana  Nebraska  Nevada  New Hampshire  New Jersey  New Mexico  New York  North Carolina  North Dakota  Ohio  Oklahoma  Oregon  Pennsylvania  Rhode Island  South Carolina  South Dakota  Tennessee  Texas  Utah  Vermont  Virginia  Washington  West Virginia  Wisconsin  Wyoming

Participating State Bank and Mortgage Regulators

Arizona Department of Financial Institutions  Arkansas Securities Department  Connecticut Department of Banking  D.C. Department of Insurance Securities and Banking  Florida Office of Financial Regulation  Idaho Department of Finance  Illinois Secretary of Financial and Professional Regulation  Indiana Department of Financial Institutions  Iowa Division of Banking  Kentucky Department of Financial Institutions  Louisiana Office of Financial Institutions  Maine Bureau of Consumer Credit Protection  Maine Bureau of Financial Institutions  Maryland Office of the Commissioner of Financial Regulation  Division of Banks, Commonwealth of Massachusetts  Michigan Office of Financial & Insurance Regulation  Minnesota Department of Commerce  Mississippi Department of Banking and Consumer Finance  Montana Division of Banking and Financial Institutions  Nebraska Department of Banking and Finance  Nevada Financial Institutions Division and Mortgage Lending Division  New Hampshire Banking Department  New Jersey Department of Banking & Insurance – Office of Consumer Finance

New York State Banking Department

North Carolina Commissioner of Banks

North Dakota Department of Financial Institutions  Ohio Division of Financial Institutions  Oregon Department of Consumer and Business Services – Division of Finance  and Corporate Securities  Pennsylvania Department of Banking  Rhode Island Department of Business Regulation – Division of Banking  South Carolina Department of Consumer Affairs  Tennessee Department of Financial Institutions  Texas Department of Banking  Texas Finance Commission and Consumer Credit Commissioner  Vermont Department of Banking, Insurance, Securities and Health Care  Administration  Washington State Department of Financial Institutions  West Virginia Division of Banking  Wisconsin Department of Banking  Wyoming Division of Banking

Related posts:

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3. Attorney General sends letters to Florida bank executives
4. Florida attorney general joins 12 other states attorney generals in letter against health care bill
5. Two Plead Guilty in Broward Mortgage Fraud Scheme

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