This must be about the Kentucky Class Actions involving MERS to recoup fees!
More info as it develops.
Conway said in an interview that MERS “perpetuated” the housing bubble by allowing Wall Street to slice up risky subprime mortgages into securities and sell them to investors:
“Does a mortgage exist so that banks can revalue it, trade it amongst themselves in secret, not tell the people of community who actually holds the mortgage, revalue it, put it in a trust, divvy it up and have Wall Street gorge itself on mortgage-backed securities, which it did?”
The Courier-Journal-
Kentucky Attorney General Jack Conway is set to announce “a major development in his investigation of mortgage foreclosure issues” today at 1:30 p.m. in Frankfort, according to his office.
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