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22 Thinking Outside the Box Experience the ZVN Difference Leading with integrity, every ZVN employee and contractor is committed to providing exceptional results for our customers and communities we serve. ZVN delivers unparalleled Pre and Post sale services on your default properties. Offering a full suite of property preservation, property inspection, restoration and hazard claim services, ZVN is your one stop shop to protecting your assets. Contact us today and.... www.ZVNPROPERTIES.com | 330.854.5890 | info@zvnproperties.com JUSTICE DEPARTMENT PREPARES SUIT AGAINST MOODY'S In their Q 3 earnings report, Moody's Corporation reported that they were preparing to receive a civil complaint from the Department of Justice. In the litigation update section of their earning statement, Moody's states: "In a letter dated September 29, 2016, the Department of Justice stated that it is preparing a civil complaint to be filed against Moody's and MIS in the US District Court for the District of New Jersey alleging certain violations of the Financial Institutions Reform, Recovery, and Enforcement Act in connection with the ratings MIS assigned to residential mortgage- backed securities and collateralized debt obligations in the period leading up to the 2008 financial crisis." In the letter, the Justice Department cites that its investigation remains ongoing and may expand to include additional theories. Likewise, it is also included that a number of states attorneys general have indicated that they also expect to pursue similar claims under state law. ese claims could include additional periods, theories, asset classes, or activities. Moody's says that it is continuing to respond to the Department of Justice's subpoenas and inquires as well as ones received by states. is is not new territory for the world's second largest rating firm, though. Following the global credit crisis of 2008, Moody's reports that it has periodically received subpoenas and inquiries from various governmental authorities, including the Justice Department and states attorneys general. Ratings firms including S&P Global Ratings have paid close to $2 billion in fines and settlements, all stemming from the same time period. e Wall Street Journal adds that any settlement with Moody's is anticipated to be substantial, as this case has proven to be more difficult than others like it. The number of recorded months of straight decline in the foreclosure inventory. Source: CoreLogic STAT INSIGHT 59