Banking
Apr. 14, 2011
Suit: Lenders Failed to Document Loans
A class action pending in federal court takes a novel swipe at two major mortgage lenders, alleging they damaged plaintiffs by failing to properly document securitized home loans.
Daily Journal Staff Writer
LOS ANGELES - A proposed class action in federal court takes a novel swipe at two major banks for allegedly failing to properly track and transfer ownership of securitized home loans.
In the complaint, two homeowners accuse Citibank, N.A. and Bank of America Corp. of unjust enrichment and wrongful credit reporting, among other claims, for allegedly failing to properly document bundled and securitized mo...
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