Idaho's Attorney General's office has joined other states that are investigating mortgage foreclosure documents that might just be flawed... the multi-state investigation is being lead by Iowa Attorney General Tom Miller. They will be reviewing a number of loan servicers that may have produced paperwork that had errors in it.
"Robo-signing" is suspected to possibly have taken place in Idaho, paperwork that may have been signed by people who don't have the knowledge or facts about each foreclosure. The Idaho Department of Finance will likely be involved reviewing the procedures related to recent moratorium on foreclosures.
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Good. The more the better. Sad, though, that the state attorneys general have to get involved when we have dozens of federal regulatory agencies that have at least partial jurisdiction.
My understanding is that Idaho's process should prove less impacted than many parts of the nation. 1) This started with the "judicial foreclosure" process which occurs in 23 other states but not Idaho; 2) Idaho uses a lot of different people to handle the process so we should not be as impacted by Robo-signing.
The good news however is:
1) this will allow people involved in short sales more time to close due to the voluntary foreclosure ban by some of the lenders;
2) Less inventory will be put on the market via bank foreclosures for a while helping existing homes sell better.