US foreclosures crisis is result of 'overall operational failure'

Imprudencies of scale

us-dollar-houses

The spectre of the foreclosures crisis continues to haunt US financial institutions. Failings over a number of years have prevented firms from foreclosing on properties that homeowners are unable to meet mortgage payments on.

A January Supreme Court ruling in Massachusetts stated that, even in cases where mortgages were not being paid, financial institutions are not able to foreclose unless they can prove ownership of that mortgage.

Institutions have long taken part in the securitisation of such

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: