Two foreclosure middlemen, LPS Default Solutions and Prommis Solutions, are accused of illegally paying non-attorneys to practice law so banks and law firms could save on document filing costs. It’s more than a money issue — t…
The Florida attorney general’s office has subpoenaed Lender Processing Services, which handles many foreclosure documents, as part of its investigation into potentially flawed foreclosure paperwork.
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JPMorgan Chase (JPM) is widening its review of foreclosure documents, CNNMoney said.
The bank is already reviewing 56,000 foreclosure documents in 23 states that need a judge to sign off on a foreclosure. Now, JPMorgan is expanding the review to states that don’t require a judge’s approval, CNNMoney said without naming its sources.
Banks have come under intense scrutiny as evidence…
Continue reading JPMorgan Chase Expands Foreclosure Review
JPMorgan Chase Expands Foreclosure Review originally appeared on DailyFinance on Tue, 12 Oct 2010 07:15:00.
Filed Under: Company News, Economy, JP Morgan Chase, Real Estate, Credit
Putting the brakes on the bill, which the House of Representatives passed in April and the Senate approved last month, signals caution at a time when allegations of flawed foreclosure documents are popping up across the nation….
The problem of faulty foreclosure documents isn’t limited to GMAC: A JPMorgan Chase employee has testified that she was one of eight managers who combined to sign some 18,000 documents a month without the personal knowledge of …