Banks Brace For Onslaught Of Suits Over Foreclosures

Law360, New York (October 29, 2010, 6:57 PM EDT) -- Banks are bracing for a new wave of lawsuits to be brought by hundreds of thousands of homeowners and angry investors over faulty documentation on home foreclosures.

“At a high level and apart from the criminal side, there's kind of the three horsemen of the apocalypse right now,” said Jess Bressi, a partner with Luce Forward Hamilton & Scripps LLP.

Rather than Pestilence, War, Famine and Death, financial institutions will face litigation from homeowners who claim they were wrongly forced from their homes; bond investors who...
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