ProPublica reporter Paul Kiel was a guest on Connecticut Public Radio's "Where We Live" yesterday to discuss the foreclosure crisis and answer listeners' questions on the latest disclosures regarding home loan modifications.
The discussion covered what the banks could do to improve the foreclosure process and touched upon the state of Nevada's recent lawsuit against Bank of America and its mortgage operations—a topic Kiel covered in his latest story for ProPublica's Eye on Loan Modifications series.
"Most broadly, Nevada's action signals that the banks' problems with home mortgages—the main cause of the financial crisis—continue to burden them and rattle investors," Kiel writes. "Bank of America, the nation's largest bank and company that services mortgages, has seen its stock plungeabout 40 percent since March, in part because of its mortgage liabilities. Nevada's action won't help."
Kiel was joined by Christopher G. Donovan, Speaker of the Connecticut House of Representatives, and Jeff Gentes, Foreclosure Staff Attorney for the Connecticut Fair Housing Center.
Listen to his segment below, which begins at 26:46. And read his latest report, Nevada Wallops Bank of America With Sweeping Suit.