Officials in 50 states launch foreclosure probe - 21 News Now, More Local News for Youngstown, Ohio -

Officials in 50 states launch foreclosure probe

WASHINGTON (AP) - Officials in all 50 states have launched a joint look into allegations that mortgage companies mishandled documents and broke laws in foreclosure cases.

Attorneys general, including Ohio's Richard Cordray, and bank regulators will examine whether mortgage company employees made false statements or prepared documents improperly.

Employees of 4 large lenders have acknowledged in depositions that they signed off on foreclosure documents without reading them.

Cordray says the investigation does not involve "mere technicalities." He says it's about the private property rights of homeowners facing foreclosure and the integrity of the nation's court system.

Copyright 2010 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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