Bankruptcy Judges, Justice Dept. Rip Mortgage Companies
“Systemic abuse.” “Extraordinary incompetence.” “Reckless.” In a growing body of legal cases, judges and the Justice Department are breaking from legal jargon to starkly chastise mortgage companies.
As mortgage delinquencies rise, more and more homeowners are learning the central role that mortgage servicers play in their lives. The legal cases show that role can be distressing. Judges have found that major mortgages servicers regularly mess up basic accounting, improperly credit payments and charge unwarranted fees. … more…
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Karen Weise is a student at UC Berkeley's Graduate School of Journalism, where she received the Mark Felt Scholarship for Investigative Reporting. She has worked at Southern California Public Radio and has freelanced for Marketplace, The World, The San Jose Mercury News and others. She came to journalism from a business background after graduating cum laude from Yale University.
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