CoreLogic has announced the launch of its Assignment Validation Report to meet the growing need for mortgage servicers to quickly and efficiently identify the current mortgage beneficiary and document the chain of assignment prior to initiating a foreclosure. In response to regulatory and investor requirements recently mandated by multiple agencies, the Assignment Validation Report leverages unmatched access to a network of recorded residential document databases and a nationwide network of field abstractors that assist servicers with completing foreclosure referral packages.Click to continue

Robbins Geller Rudman & Dowd LLP has announced that a class action lawsuit has been filed on behalf of an institutional investor in the U.S. District Court for the Southern District of New York against Bank of America Corporation (BofA) alleging that defendants issued materially false and misleading statements regarding the company’s business.Click to continue

Illinois Attorney General Lisa Madigan has filed legislation designed to reform the foreclosure process to protect homeowners. Madigan’s legislation is the first of its kind in the country to address revelations that major banks and mortgage giants recklessly “robo-signed” foreclosure fillings across the country. The bill would significantly tighten the requirements for affidavits filed in foreclosure proceedings to ensure their accuracy.Click to continue

Florida Attorney General Bill McCollum has announced his office has launched three new investigations into allegations of unfair and deceptive actions by Florida law firms handling foreclosure cases. The Attorney General’s Economic Crimes Division is investigating whether improper documentation may have been created and filed with Florida courts to speed up foreclosure processes, potentially without the knowledge or consent of the homeowners involved.Click to continue