Office of the Attorney General
Attorney General Conway Announces Review of Mortgage Foreclosures

Press Release Date:  Wednesday, October 13, 2010  
Contact Information:  Shelley Catharine Johnson
Deputy Communications Director
502-696-5659 (office)
 


Attorney General Jack Conway announced today that his office and attorneys general from 48 other states have formed a multistate group to inquire whether or not 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," General Conway said.

It has recently come to light that a number of mortgage loan servicers have submitted affidavits or signed other documents in support of either judicial or non-judicial foreclosures that appear to have procedural defects. In particular, it appears affidavits and other documents have been signed by persons who did not have personal knowledge of the facts asserted in the documents. In addition, it appears that many affidavits were signed outside of the presence of a notary public, contrary to state law. This process of signing documents without confirming their accuracy has come to be known as "robo-signing."

"We believe such a process may constitute a deceptive act and/or an unfair practice or otherwise violate state laws," General Conway said.

Some lenders have halted foreclosures in states like Kentucky after the issues came to light, others have not.

In order to handle this issue in the most efficient and consistent manner possible, Kentucky and the 48 other states have formed a multistate group to address issues common to a large number of states. The group is comprised of both state attorneys general and the state bank and mortgage regulators, including the Kentucky Department of Financial Institutions. Through this process, the states will attempt to speak with one voice to the greatest extent possible.

Participating Attorneys General

  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Florida
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Vermont
  • Virginia
  • Washington
  • West Virginia
  • Wisconsin
  • Wyoming

Participating State Bank and Mortgage Regulators

  • Arizona Department of Financial Institutions
  • Arkansas Securities Department
  • Connecticut Department of Banking
  • D.C. Department of Insurance Securities and Banking
  • Florida Office of Financial Regulation
  • Idaho Department of Finance
  • Illinois Secretary of Financial and Professional Regulation
  • Indiana Department of Financial Institutions
  • Iowa Division of Banking
  • Kentucky Department of Financial Institutions
  • Louisiana Office of Financial Institutions
  • Maine Bureau of Consumer Credit Protection
  • Maine Bureau of Financial Institutions
  • Maryland Office of the Commissioner of Financial Regulation
  • Division of Banks, Commonwealth of Massachusetts
  • Michigan Office of Financial & Insurance Regulation
  • Minnesota Department of Commerce
  • Mississippi Department of Banking and Consumer Finance
  • Montana Division of Banking and Financial Institutions
  • Nebraska Department of Banking and Finance
  • Nevada Financial Institutions Division and Mortgage Lending Division
  • New Hampshire Banking Department
  • New Jersey Department of Banking & Insurance — Office of Consumer Finance
  • New York Department of Banking
  • North Carolina Commissioner of Banks
  • North Dakota Department of Financial Institutions
  • Ohio Division of Financial Institutions
  • Oregon Department of Consumer and Business Services — Division of Finance and Corporate Securities
  • Pennsylvania Department of Banking
  • Rhode Island Department of Business Regulation — Division of Banking
  • South Carolina Department of Consumer Affairs
  • Tennessee Department of Financial Institutions
  • Texas Department of Banking
  • Texas Finance Commission and Consumer Credit Commissioner
  • Vermont Department of Banking, Insurance, Securities and Health Care Administration
  • Washington State Department of Financial Institutions
  • West Virginia Division of Banking
  • Wisconsin Department of Banking
  • Wyoming Division of Banking