I watched an interview on CSPAN on Friday. Cities all over the country are suing mortgage lenders for lost tax revenue and the burden of safeguarding neighborhoods with vacant, foreclosed properties. Brad Blower, who represents the city of Baltimore in its suit against Wells Fargo bank, talked about this new strategy in battling the effects of a nationwide increase in foreclosures. He responded to telephone calls and electronic mail. The interview with the lawyer suing Wells Fargo is here (click one of the icons on the right to watch).
It occurs to me that if WF refused to loan to a certain racial group because they think that the debtor will not satisfy the requirements of the loan, then they will get sued for a civil rights violation. In this video, this shyster is suing them because they DID. How can a mortgage company do business without being sued?
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