In a White Paper directed to the states Attorneys General, the Association of Mortgage Investors (AMI) which represents private investors, public and private pension funds and endowments, puts forth a broad indictment of the mortgage servicing industry and offers its solutions to the foreclosure crisis. All 50 of the Attorneys General are engaged in an investigation of the mortgage process and are expected to design a multi-state settlement in the next few months. AIM, in a press release accompanying the White Paper said, "It is the greatest hope of mortgage investors that any settlement carefully considers the impact on the performance of state pension, retirement systems, life insurance, and medical savings plans and ensure that the responsible parties bear the expense of past bad acts. Furthermore...(read more)

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