December 20, 2011
California Attorney General Kamala Harris and Nevada Attorney General Catherine Cortez Masto announced a joint investigation alliance designed to assist homeowners who have been harmed by misconduct and fraud in the mortgage industry. California and Nevada will combine investigative resources, including litigation strategies, information, and evidence gathered through their respective ongoing investigations. The alliance will link the offices' civil and criminal enforcement teams. Both states share a non-judicial foreclosure system.
California and Nevada have been hard hit by the nation's foreclosure crisis. In October 2011, Nevada and California ranked first and second, respectively, for the percentage of their housing units that entered the foreclosure process. In 2010, California led the nation with a total of 546,669 foreclosure filings, while Nevada foreclosure files totaled 106,160.