Wash. AG Sues BofA Unit Over Foreclosure Practices

Law360, New York (August 5, 2011, 4:53 PM EDT) -- Washington state Attorney General Rob McKenna on Friday accused a Bank of America NA unit of conducting illegal foreclosures on thousands of homeowners and putting up roadblocks to saving residents' homes.

McKenna filed suit in state court against a Bank of America subsidiary in California, ReconTrust Co. NA, which acts as a foreclosure trustee, over foreclosure practices that violate its obligation to be a neutral third party acting in the best interest of lenders and borrowers.

Rather than act in good faith to borrowers, ReconTrust would...
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