State prosecutors from all 50 states are investigating the country’s largest banks, to learn whether they have been foreclosing on thousands of Americans improperly. The banks say they do not seize people’s houses without justification. But NPR has uncovered a case that might suggest otherwise. In fact, the homeowner in this case was actually the victim of a scam run by one of the bank’s very own employees. But despite that, the bank moved to foreclose anyway.
Jon Prior was a reporter with HousingWire through late 2012.see full bio
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Here’s why non-QM earned its place at the mortgage dinner table
The non-qualified mortgage market has experienced significant growth since its introduction nearly a decade ago. 10 years in, credit ratings agencies regularly release performance metrics for investors, which provide remarkable insight into this extremely versatile asset class.
Jon Prior was a reporter with HousingWire through late 2012.see full bio