Revere
Rookie
- Banned
- #1
To quote Vice President Bite Me, this is a big fucking deal.
See, foreclosure is a risk factor in making a loan. If a bank can't foreclose, it can't price risk and make home loans.
Banks lose key foreclosure ruling in top Massachusetts court | Reuters
See, foreclosure is a risk factor in making a loan. If a bank can't foreclose, it can't price risk and make home loans.
Banks lose key foreclosure ruling in top Massachusetts court | Reuters
(Reuters) - In a decision that may slow foreclosures nationwide, Massachusetts' highest court voided the seizure of two homes by Wells Fargo & Co and US Bancorp after the banks failed to show they held the mortgages at the time they foreclosed.
Bank shares fell, weighing on broader stock indexes, on fears the decision could threaten lenders' ability to work through hundreds of thousands of pending foreclosures.