BluegrassForeclosure.com

From Business First, this certainly can’t be good news for the foreclosure industry, having almost every Attorney General’s office in the United States investigating loans and the paperwork behind the loans:  “Kentucky Attorney General Jack Conway announced Wednesday that his office and attorneys general from 48 other states have formed a multistate group to inquire into whether individual mortgage servicers have improperly submitted affidavits or other documents in support of home foreclosure actions filed in state court.

The facts uncovered in the investigation will dictate the scope of the inquiry.

“Due to the recent information uncovered, it was important to act quickly in a coordinated and uniform fashion to protect consumers,” Conway said in a news release.

His office said that It has come to light that a number of mortgage loan servicers have submitted affidavits or signed other documents in support of either judicial or nonjudicial foreclosures that appear to have procedural defects.

In particular, it appears that affidavits and other documents were signed by persons who did not have personal knowledge of the facts asserted in the documents. It also appears that many affidavits were signed outside the presence of a notary public, contrary to state law — a process known as “robo-signing.”

Read more: Kentucky joins foreclosure investigation – Business First of Louisville