The Real Deal Miami

Mortgage deal uncovers further bank misdeeds

March 04, 2013 11:00AM

Discoveries of misconduct among the nation’s largest mortgage lenders, prior to and during the foreclosure crisis, are continuing to add up, with the revelation that the nation’s biggest banks wrongfully foreclosed on more than 700 members of the U.S. military, the New York Times reported. The improper foreclosures and home seizures were uncovered as mortgages continue to be analyzed as a part of the nearly $26 billion-dollar settlement with federal authorities. Analysts found that beyond foreclosing on military homes that were current on their mortgages, the banks also seized homes from nearly two dozen civilian borrowers who were making proper payments. [more]