2013-05-22wsj.com

``The announcement that Smith is looking into potential violations comes a week after New York State Attorney General Eric Schneiderman said he would sue BofA and Wells over complaints they did not provide fair and timely service to homeowners seeking relief.

Smith and others attorneys general have been looking into the same issues. Illinois Attorney General Lisa Madigan said Tuesday her office found "an alarming pattern of potential violations of `servicing standards.'" For example, she said that in 60% of files surveyed, banks failed to notify borrowers within five days of missing documents in their applications.''



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