NV AG Masto has no regrets about robo-signing law's effect on foreclosures, short sales

by Hubble Smith, Las Vegas Review-Journal
Thursday, July 19th, 2012

Nevada Attorney General Catherine Cortez Masto said she has no regrets about passing the robo-signing law that has virtually brought foreclosure filings to a standstill in the state, and that banks are simply using the law as a "scapegoat," allowing people to live in their homes for free.

"It's a changing environment right now, and repealing (Assembly Bill) 284 is not going to change the environment," Masto said Wednesday at a panel discussion sponsored by the National Association of Hispanic Real Estate Professionals at the Gold Coast.

"I hear that because of AB 284, banks can't foreclose. How is it that 284 is preventing a bank from foreclosing on someone not making their payment?" she asked the audience of about 300 real estate industry professionals. "There's a reason banks aren't foreclosing. I just haven't figured it out yet."