FBI Reportedly Investigating Foreclosure Crisis


The FBI is trying to determine if large lenders broke the law in the mortgage foreclosure crisis.

The agency is trying to determine whether individuals working for large mortgage lenders acted with criminal intent or were simply overwhelmed by events during the crisis, The Associated Press reported without naming its sources.

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Attorneys general in all 50 states are currently investigating whether mortgage lenders violated state laws, after evidence came to light that some lenders were foreclosing on homes using flawed paperwork.

In Washington, DC, lawmakers are also planning to hold hearings on the foreclosure crisis.

Earlier this week, Bank of America Corp. (BAC) and GMAC Mortgage announced they would resume foreclosures in 23 states that require a judge's approval to seize a home.