Politics & Government
Johnston Files Suit Vs. Mortgage Firms
The lawsuit, filed in U.S. District Court in June, alleges that banks and mortgage companies did not pay transfer fees owed to the town, the Providence Journal reported.
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The Town of Johnston is the plantiff in a federal lawsuit against mortgage companies, banks, and MERSCORP, an electronic registry created for the mortgage industry, the Providence Journal reported this week.
In the lawsuit, the town claims that the companies — which include , Goldman Sachs, JP Morgan Chase Bank, and Wells Fargo — avoided paying transfer fees to the town by failing to file mortgage transfers, a violation of state law.
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The Journal quoted Polisena as saying he feels the companies are "ripping off the taxpayers."
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