The state's highest court affirmed the fundamental and long-established idea that a bank must own the mortgage it's foreclosing on before it forecloses. The ruling pertained to Wells Fargo and US Bancorp, but investors are hammering all bank financial stocks in reaction. Continue reading Massachusetts Ruling Slams Bank Foreclosure Practices Massachusetts Ruling Slams Bank Foreclosure Practices originally appeared on DailyFinance on Fri, 07 Jan 2011 13:30:00. Filed Under: Company News , Columns , Economy , Investing , JP Morgan Chase , Bank of America , Travelers , Wells Fargo & Co , Real Estate Permalink | Tweet this! | Comments