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Foreclosure fallout

Shares of major U.S. banks tumbled Thursday as investors digested the potential impact on the financial industry of chaos in the nation's foreclosure system. A look at trading in several bank stocks.


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For foreclosure processors hired by mortgage lenders, speed equaled money
Article | Millions of homes have been seized by banks during the economic crisis through a mass production system of foreclosures that was set up to prioritize one thing over everything else: speed.
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Winners and losers from a foreclosure holiday
Article | The foreclosure machine -- which turned out to be more automated than most would have guessed, with some processors admitting to signing off on key documents without giving them a glance -- threatens to grind to a halt as some of the nation's biggest banks are forced to reexamine their document-h...
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Bank stocks sink as worries over foreclosures sharpen
Article | Stocks of major banks declined sharply Thursday amid concern that widespread corner-cutting in the foreclosure process could saddle the financial system with a costly and paralyzing mess.

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