this program is made possible by contributions to your pbs station from viewers like you. thank you. captioning sponsored by wpbt tom: good evening and thanks for joining us. concerns escalated today about the nation s growing foreclosure mess. on wall street, financial stocks slumped as investors worried about legal scrutiny of the foreclosure process. and, in boston, bank of america c.e.o. brian moynihan said he s not so concerned the investigations would hurt the u.s. housing market. suzanne: tom, it was late last month when banks began to take a closer look at foreclosure documents. but that didn t stop them from seizing more than 100,000 homes in september. 102,000 properties were taken back by banks. it s the first time repos have topped 100,000 in a single month. tom: we have two stories tonight looking at the foreclosure process and so- called robo-signing of foreclosure documents. we begin with stephanie dhue and the mortgage industry s controversial use of
this program is made possible by contributions to your pbs station from viewers like you. captioning sponsored by wpbt suzanne: good evening everyone. susie gharib is off tonight. the probe into foreclosure practices is spreading. today, the attorneys general of every u.s. state joined together to investigate mortgage servicers. tom, the states will examine whether financial firms made misleading statements to evict struggling borrowers. tom: suzanne, investigators will initially focus on how lenders verify foreclosure documents. specifically, there are allegations of so-called robo- signing. that s when employees from mortgage companies sign hundreds of affidavits a day without reviewing them. it s alleged those documents were notarized without knowledge of the facts or verifying loan information. just how widespread is the foreclosure issue? check out these numbers: banks repossessed nearly three million homes in the past 3.5 years. according to realtytrac, banks are ex
this program is made possible by contributions to your pbs station from viewers like you. captioning sponsored by wpbt suzanne: good evening everyone. susie gharib is off tonight. the probe into foreclosure practices is spreading. today, the attorneys general of every u.s. state joined together to investigate mortgage servicers. tom, the states will examine whether financial firms made misleading statements to evict struggling borrowers. tom: suzanne, investigators will initially focus on how lenders verify foreclosure documents. specifically, there are allegations of so-called robo- signing. that s when employees from mortgage companies sign hundreds of affidavits a day without reviewing them. it s alleged those documents were notarized without knowledge of the facts or verifying loan information. just how widespread is the foreclosure issue? check out these numbers: banks repossessed nearly three million homes in the past 3.5 years. according to realtytrac, banks are ex
this program is made possible by contributions to your pbs station from viewers like you. captioning sponsored by wpbt suzanne: good evening everyone. susie gharib is off tonight. the probe into foreclosure practices is spreading. today, the attorneys general of every u.s. state joined together to investigate mortgage servicers. tom, the states will examine whether financial firms made misleading statements to evict struggling borrowers. tom: suzanne, investigators will initially focus on how lenders verify foreclosure documents. specifically, there are allegations of so-called robo- signing. that s when employees from mortgage companies sign hundreds of affidavits a day without reviewing them. it s alleged those documents were notarized without knowledge of the facts or verifying loan information. just how widespread is the foreclosure issue? check out these numbers: banks repossessed nearly three million homes in the past 3.5 years. according to realtytrac, banks are ex
this program is made possible by contributions to your pbs station from viewers like you. captioning sponsored by wpbt suzanne: good evening everyone. susie gharib is off tonight. the probe into foreclosure practices is spreading. today, the attorneys general of every u.s. state joined together to investigate mortgage servicers. tom, the states will examine whether financial firms made misleading statements to evict struggling borrowers. tom: suzanne, investigators will initially focus on how lenders verify foreclosure documents. specifically, there are allegations of so-called robo- signing. that s when employees from mortgage companies sign hundreds of affidavits a day without reviewing them. it s alleged those documents were notarized without knowledge of the facts or verifying loan information. just how widespread is the foreclosure issue? check out these numbers: banks repossessed nearly three million homes in the past 3.5 years. according to realtytrac, banks are ex