Apparently, Wells Fargo (NYSE:WFC) and US Bancorp (NYSE:USB) hadn’t heard possession is nine-tenths of the law. Now, the Supreme Judicial Court of Massachusetts has voided the seizure of homes because WFC and USB “failed to show they held the mortgages at the time they foreclosed.”
As if over-paying corporate council for horrible legal advice wasn’t enough, now shareholders are getting dropkicked as other foreclosures will inevitably be called into question.
Here are 5 other big banks which will also pay big legal bills to deal with foreclosure challenges:
Bank of America (NYSE:BAC)
JP Morgan (NYSE:JPM)
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