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Thu October 14, 2010
Koster Joins Other Attorneys General in Foreclosure Investigation
Jeffrson City, MO – Attorneys general in all 50 states are jointly investigating whether mortgage companies mishandled documents that resulted in hundreds of thousands of home foreclosures across the country.
Missouri Attorney General Chris Koster says it appears that some foreclosure affidavits were signed without confirming whether the information contained in them was accurate, a process known as "robo-signing."
"If people have been taken advantage of in the past, then there needs to be some remedy for that, and by all means we want to make sure that proper documentation is in order before any further foreclosures take place," said Koster.
Koster, meanwhile, has no plans to call for a statewide moratorium on foreclosures while the investigation takes place.
Four major lenders, including Bank of America and Ally, have halted all foreclosures over robo-signing concerns.