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[UPDATE] Florida to Have Lead Role in Foreclosure Probe

By: AP
By: AP

[UPDATE] 10-14 11:49PM --

West Palm Beach, Florida --

A Palm Beach County judge has again rejected an attempt by Attorney General Bill McCollum to subpoena a law firm in an investigation into foreclosure practices.

Circuit Judge Jack Cox on Thursday, Oct. 14 denied a motion asking him to reconsider an order tossing out the subpoena. The attorney
general's office was seeking foreclosure information from the
Shapiro & Fishman law firm.

The investigation involves that firm and three others that
handled thousands of foreclosures.

Cox repeated that the attorney general cannot use Florida
deceptive and unfair trade laws to investigate law firms. The judge
added that the state has other legal tools it could use in the
investigation.

There was no immediate comment from the attorney general's
office.

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[UPDATE] 10-13 12:44PM --

Tallahassee, Florida (AP) --

Attorney General Bill McCollum says Florida will have a lead role in a foreclosure investigation by 49 states.

Attorneys general in those states Wednesday, October 13 announced they jointly will look into allegations that mortgage companies
mishandled documents and broke laws in foreclosing on hundreds of
thousands of homeowners.

McCollum said his office will serve on an executive committee
with those of the attorneys general of 11 other states and banking
regulators from Maryland and New York.

The Florida Office of Financial Regulation also is participating
in the 49-state investigation.

Alabama is the only state not involved.

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[UPDATE] 10-13 12:32PM

Tallahassee, Florida (AP) --

Florida Attorney General Bill McCollum has invited five major mortgage lenders to meet with him to discuss faulty foreclosure filings.

McCollum sent letters to the firms Tuesday, October 12 citing media reports that they may have submitted foreclosure papers containing errors of fact.

He wants to discuss with them ways to "redeem the integrity of
the foreclosure process" and alleviate a backlog of cases clogging
the state's courts.

The letters went to Litton Loan Servicing, Bank of America, JP
Morgan Chase, PNC Financial Services and GMAC Mortgage.

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West Palm Beach, Florida (AP) --

Attorney General Bill McCollum has asked a judge to reconsider his decision to void a subpoena seeking information from a law for an investigation of foreclosure practices.

The rehearing motion was filed Monday, Oct. 11 with Circuit Judge Jack
Cox, who issued the decision last week in West Palm Beach.

Cox ruled the subpoena of the Shapiro and Fishman law firm was
overly broad and invasive. Cox also said the Florida Bar is best
suited to handle questions about law firms' legal tactics.

It is one of four law firms McCollum's office is investigating
to determine if they fabricated documents in foreclosure actions
against homeowners.

Three major lenders, meanwhile, have announced foreclosure
moratoriums over similar practices.


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