Arizona, Nevada sue BofA over loan modifications (AP)

In a lawsuit echoing recurring complaints about mortgage lenders, Arizona accused Bank of America Corp. of failing to implement anti-foreclosure measures it had promised in March 2009 to settle accusations that its Countrywide Financial unit had defrauded consumers. Hours later Friday, Nevada also sued the Charlotte, N.C., bank, accusing it of widespread deceptions in promising borrowers help with loan modifications that were never delivered.

(eric_harvieux)

All you need to know to get confirmation that Lender Processing Services got a great gift is to look at what its stock did on the day of the announcement of its $127 million settlement with 46 chump state attorneys general, on a day when the market was down generally:

SAN FRANCISCO (Reuters) - The states of Arizona and Nevada sued Bank of America Corp on Friday, accusing the largest U.S. bank of routinely misleading consumers about home loan modifications.