NC County Sues Banking Giants Over Mortgage Mess

Law360, New York (March 13, 2012, 7:04 PM EDT) -- North Carolina's Guilford County on Tuesday accused the country's largest banks, loan servicers and others of providing fraudulent and robosigned mortgage documents that wreaked havoc on its property records registry and hurt property values.

Guilford's lawsuit in North Carolina state court targets nearly 30 companies, including Wells Fargo Bank NA, JPMorgan Chase Bank NA and Bank of America NA, as well as Lender Processing Services Inc., a major provider of default mortgage services, and MersCorp Holdings Inc., which operates a private property records system.

The suit...
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