Illinois AG continues fight against banks, files suit against Title company citing mortgage fraud! [View all]
Why is this important?
Because the company.. "
provides a range of mortgage loan services to eight of the top 10 lenders and mortgage servicers in the country.
NTC specializes in creating, processing and recording mortgage assignments, which are often used for a lender to foreclose on a borrower. "
Attorney General Alleges Faulty Practices in Foreclosing on
Homeowners in Crisis
Chicago — Attorney General Lisa Madigan today filed a lawsuit against Nationwide Title Clearing for filing faulty documents with Illinois county recorders. Nationwide Title Cleaning Inc. (NTC) is a Florida-based company that prepares documents for mortgage servicers to use against borrowers who are in default, foreclosure or bankruptcy.
“The practices that NTC used were a key contributor to the mortgage crisis by undermining the integrity and accuracy of the mortgage servicing and foreclosure process,” Attorney General Madigan said.
NTC provides a range of mortgage loan services to eight of the top 10 lenders and mortgage servicers in the country
NTC specializes in creating, processing and recording mortgage assignments, which are often used for a lender to foreclose on a borrower.
The lawsuit, filed in Cook County Circuit Court, alleges numerous violations of the Illinois Consumer Fraud and Deceptive Practices Act and the Uniform Deceptive Trade Practices Act. Madigan is asking the court to require NTC to review and correct all documents it unlawfully created and recorded in Illinois, and pay back all revenues, profits and gains achieved in whole or in part due to unlawful practices. The suit also asks the court to impose civil penalties against the company.
Also, note this:
She also sued Standard and Poor's, and sued Citywide, in other cases, and now has an active case against Morgan Stanley!