NOTE: Generally real estate law is left to the states... In fact I believe most foreclosure stuff is supposed to happen in the state courts... the banks are regularly moving to federal and out of states courts. Do states rights matter anymore?
Task force probing whether banks broke federal laws during home seizures: "As part of this reckoning, the Federal Reserve Bank of New York has joined with some of the country's largest investors in seeking to force Bank of America to buy back about $47 billion worth of troubled home loans packaged into bonds by Countrywide Financial, which is owned by the bank. Along with its partners, the New York Fed, which invested in some of these bonds during the rescue of the financial system, is raising the prospect that Bank of America could be sued unless losses are recouped.
In recent weeks, senior lawmakers have called for a federal probe into the use of flawed foreclosure documents and improper practices. But Obama administration officials offered few details about how they were proceeding."