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NEW YORK (Legal Newsline) - The Securities and Exchange Commission has charged six former executives of the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) with securities fraud.

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WASHINGTON (Legal Newsline) - State attorneys general could be nearing a settlement with top U.S. banks over the foreclosure crisis, according to reports.

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SALEM, Ore. (Legal Newsline) - Oregon Attorney General John Kroger announced on Monday that his office has filed a lawsuit against a former financial giant that allegedly misreported values of mortgage-backed securities.

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CLEVELAND (Legal Newsline) - The U.S. Court of Appeals for the Sixth Circuit has rejected the city of Cleveland's attempt to use a public nuisance doctrine to pin liability on major investment banks for the foreclosure crisis in the city.

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SALEM, Ore. (Legal Newsline) - Oregon Attorney General John Kroger announced on Wednesday that he has joined state treasurer Ted Wheeler in filing a lawsuit against Countrywide Financial that says it misled investors into risky mortgage-backed securities.

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BOSTON (Legal Newsline) - Massachusetts Attorney General Martha Coakley announced on Thursday that she has reached a $102 million settlement with a top investment company over alleged subprime loan violations.

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HARTFORD, Conn. (Legal Newsline) - Connecticut Attorney General Richard Blumenthal said Monday a state investigation may follow the allegations made Friday by the Securities and Exchange Commission against Goldman Sachs.

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MONTPELIER, Vt. (Legal Newsline) - Vermont Attorney General William Sorrell has announced a settlement with Countrywide Financial Corporation, now a part of Bank of America, to resolve claims by the state concerning the company's origination of home loans in past years.

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WASHINGTON (Legal Newsline)-The nation's foreclosure crisis is worsening despite federal efforts to help Americans save their homes, a dozen state attorneys general said Wednesday.

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WASHINGTON (Legal Newsline)-The White House on Monday plans to announce additional help for Americans having trouble making their home mortgage payments, something long called for by several state attorneys general.

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BOSTON (Legal Newsline) - Fremont General Corp. is paying $10 million to settle allegations brought by the Commonwealth of Massachusetts that it gave out unfair home loans.

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SACRAMENTO, Calif. (Legal Newsline)-A state lawmaker and Democratic candidate for California attorney general says he is trying to determine the role accountants had in the home lending crisis.

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BOSTON (Legal Newsline) - An agreement announced Monday requires investment bank Goldman Sachs & Co. to pay $60 million to settle subprime lending claims brought by the Massachusetts Attorney General's Office.

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SACRAMENTO, Calif. (Legal Newsline) -- An idea that began in California as a grassroots appeal from beleaguered working-class homeowners has spurred national loan modification legislation and a new state foreclosure moratorium bill signed into law by Gov. Arnold Schwarzenegger.

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AUSTIN, Texas (Legal Newsline)-More than $7 million will be available to Countrywide Financial Corp residential mortgage customers in Texas, the state attorney general said this week.

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WASHINGTON (Legal Newsline)-A group of state attorneys general is urging federal officials to push national banks and federal thrifts to modify home mortgage loans that are becoming unaffordable for struggling buyers.

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NASHVILLE, Tenn. (Legal Newsline) -- Tennessee's attorney general has announced Countrywide Financial Corp., the nation's largest independent mortgage lender and servicer, has agreed to settle claims of predatory lending.

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TRENTON, N.J. (Legal Newsline) -- Eligible New Jersey homeowners will be able to use a new state-supported mortgage foreclosure mediation program aimed at helping homeowners remain in their homes.

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PHOENIX, Ariz. (Legal Newsline)-A coalition of 22 state attorneys general asked Congress on Tuesday to loosen U.S. bankruptcy rules so judges can modify home loans to help reduce the tide of home foreclosures.

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AUSTIN, Texas (Legal Newsline)-Texas Attorney General Greg Abbott on Wednesday said he is seeking legislation that would boost his statutory authority to help protect Texans from foreclosure rescue scams.

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IN THE SPOTLIGHT:
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Wednesday, December 14, 2011
WASHINGTON (Legal Newsline) - Philadelphia's civil courts system has been named the nation's worst by the American Tort Reform Foundation for a second consecutive year.
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+ Reverse bifurcation suspended in Philly mass torts - 12/9
+ Pension funds and Fannie Mae battling to recoup meltdown losses - 11/16
+ International academy a respected asbestos think tank - 11/14
+ Philly's Complex Litigation Center is profit center, says reformer - 11/10
+ The science of asbestos: The arguments for juries - 10/31
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