America's foreclosure scandal is still re-Lverberating. Congress recently held hearings on mortgage lenders' use of "robo-signers" to stamp eviction documents without bothering to read them first. An investigation by the 50 states' attorneys-general may result in a settlement with banks-perhaps early next year-that could include pledges to reform industry practices. And the right of mortgage servic-ers (which administer payments to investors) to foreclose on loans that were sliced and diced in securitisations is being challenged by, among others, the United States Trustee Programme, the arm of the Justice Department with the job of protecting the integrity of the bankruptcy system.
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