Again, this is what I’ve been waiting for. As Professor Peterson says, “This case is scary because if Dallas wins then there are a lot of other counties around the country that are going to follow.” … And follow they will.
I already see them lining up one by one. You see just because you can develop a system and input data, doesn’t mean it relieves you from any responsibility of some 67+ million “errors”. They knew what they had from its inception.
BLOOMBERG-
Bank of America Corp. (BAC) is among a group of lenders that may face a wave of new lawsuits claiming the system they’ve used for more than a decade to register mortgages cheated cash-strapped counties out of millions of dollars.
Dallas County District Attorney Craig Watkins said state attorneys general and county officials across the U.S. have expressed interest in his lawsuit against Mortgage Electronic Registration Systems Inc. and Bank of America, filed in Texas state court on Sept. 21. Dallas County could be owed as much as $100 million in filing fees, he said.