Two on Foreclosure

CJR's Ryan Chittum says about all that needs to be said about the current state of foreclosures in America, netting a fistfull of great articles- like this one from American Banker:

Several dozen documents reviewed by American Banker show that as recently as August some of the largest U.S. banks, including Bank of America Corp., Wells Fargo & Co., Ally Financial Inc., and OneWest Financial Inc., were essentially backdating paperwork necessary to support their right to foreclose.

Oooh! Tell us more, do!

And then there's Reuters, saying that the Federal Housing Finance Agency is suing the big banks.

The government will argue the banks, which pooled the mortgages and sold them as securities to investors, failed to perform due diligence required under securities law and missed evidence that borrowers' incomes were falsified or inflated...

Ya don't say...