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BofA, lenders may face new slew of lawsuits

Experts predict possible flood of litigation over mortgage registration system

“Now serving the next customer in line to sue Bank of America.” While not exactly what you expect to hear from the teller at your local Bank of America (BofA) branch, Bloomberg yesterday warned that the besieged bank is among a group of lenders that may face a new slew of lawsuits.

According to the report, mortgage providers may face a glut of litigation alleging the Mortgage Electronic Registration Systems Inc. (MERS) mortgage registration system they’ve used for more than a decade bilked broke counties out of millions.

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