A lack of staff in the face of overwhelming volume is the excuse banks give for turning to robo-signers to speed foreclosures, and for their inability to manage the the mortgage modification process. Now, a class action against…
Now that N.Y. Chief Judge Jonathan Lippman has considerably tightened the state’s foreclosure rules, his effort to eliminate robo-signing has greatly raised the stakes for the banks’ attorneys. But what will the practical impac…
The largest U.S. bank reportedly acknowledges discovering some mistakes in foreclosure files as it begins to resubmit documents in 102,000 cases.
Continue reading Bank of America Finds Foreclosure Errors
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After a 16-day review of its foreclosures, Bank of America says it found no problems with any of them, and now it’s ready to resume processing the paperwork. But that’s a claim so unbelievable it doesn’t pass the straight-face …
The Mortgage Bankers Association said they tumbled 10.5% last week, the biggest fall-off in four months. While the foreclosure crisis may be playing a role in the decline, rising interest rates are also partly to blame.
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