Friday, November 12, 2010

Bank of America, Merrill, Milan Banks, JPMorgan, UBS, WestLB in Court News - Bloomberg

Dwayne Ransom Davis and Melisa Davis sued last month in Indianapolis, claiming Bank of America “routinely” submitted perjured affidavits to support foreclosures. They lost their Knightstown, Indiana, home last year.

The Charlotte, North Carolina-based bank, in papers filed Nov. 10 with U.S. District Judge Jane Magnus-Stinson, said the Davises were improperly using a federal court to attack a state court proceeding and hadn’t shown they were injured.

“While plaintiffs claim they do not seek to overturn the judgment in the foreclosure action, it is clear they are trying to do precisely that,” in violation of federal law, Bank of America told the court.

The Davises didn’t ask the court to reverse their September 2009 foreclosure. They said in their complaint that the use of “robo-signers”, or people who sign affidavits attesting to facts underlying foreclosures without actual knowledge of them, constitutes racketeering.

They seek class-action, or group, status for anyone whose home was taken under such circumstances since October 2006, and compensatory damages, which would be tripled under U.S. racketeering laws.

From: http://ping.fm/rbHLr

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