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MN AG Asks Mortgage Lenders to Halt Foreclosures

Lori Swanson has asked Bank of America, J.P. Morgan Chase, Minneapolis-based GMAC Mortgage, and 12 other major lenders to voluntarily stop foreclosures within the state until they can prove that they are following a fair and accurate process.

Local Hedge Fund Faces $105M Suit in Petters Case

Minnetonka-based Arrowhead Capital Management and its affiliates could be liable for up to $5.1 billion in principal and interest that was transferred to them from Petters Company, Inc., over a period of 10 years, according to the suit.