Friday, November 5, 2010

Tough Foreclosure Investigator Defeated Tuesday

Tough Foreclosure Investigator Defeated Tuesday: "When the robo-signer foreclosure scandal broke, Ohio Attorney General Richard Cordray was among the first state officials to launch an investigation.

Cordray eventually filed suit against GMAC Mortgage and was one of the driving forces behind the 50-state investigation of how big lenders handled foreclosures. But Cordray lost his job Tuesday, defeated in his re-election bid by Republican Mike DeWine.

In fact, Tuesday's election claimed quite a few sitting attorneys general. According to Reuters, lenders believe that development will help close the book on the mortgage mess faster than otherwise.

In California, Attorney General Jerry Brown is moving to the governor's mansion. In Arizona, Attorney General Terry Goddard was defeated in his bid for governor. In Florida, Attorney General Bill McCollum will be leaving office, having failed to win his party's nomination for governor. All have been very active in investigating the robo-signing controversy."

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