January 8, 2011, Bloomberg Business Week reported that the Massachusetts state Supreme Judicial Court unanimously upheld a decision to invalidate two foreclosures, because the banks–U.S. Bancorp, and Wells Fargo & Co.–did not prove ownership of the mortgages. The original mortgage lenders had split the loans into two mortgage-backed trusts, bought by the banks; but it … Continue reading SHOCKWAVES THROUGHOUT THE MORTGAGE INDUSTRY