Massachusetts’s highest court is poised to rule on whether foreclosures in the state should be undone because securitization-industry practices violate real- estate law governing how mortgages may be transferred.
Jared Lee Loughner is scheduled to appear in court today to face charges of attempting to kill U.S. Representative Gabrielle Giffords and murdering U.S. District Judge John Roll in a shooting spree at a Tucson, Arizona, shopping mall that claimed six lives and wounded at least 14 others, federal prosecutors said.
US Bancorp and Wells Fargo & Co. lost a foreclosure case in Massachusetts’s highest court that will guide lower courts in that state and may influence others in the clash between bank practices and state real estate law. The ruling drove down bank stocks.
A Massachusetts man should be allowed to keep property he bought from U.S. Bancorp even though the bank didn’t have the right to foreclose on the previous owner, a lawyer argued before the state’s highest court.