Tags: US | Foreclosure | Freeze

Senator Demands Lenders Reveal Foreclosure Errors

Tuesday, 05 Oct 2010 03:38 PM

A key lawmaker is demanding that more than 100 mortgage companies determine whether foreclosure documents they approved contain errors and reveal their findings.

Sen. Robert Menendez, D.-N.J., says he sent letters to three banks that have halted foreclosures in 23 states after evidence surfaced that their employees or outside lawyers signed documents without reading them. Menendez leads a Senate subcommittee that oversees housing issues.

He wrote to the three major lenders that have halted some foreclosures — JPMorgan Chase, Bank of America and Ally Financial — along with dozens of other companies.

"I want to know how deep this problem goes and what safeguards are now in place to prevent unjustified rubber-stamp foreclosures from happening in the future," Menendez said.

© Copyright 2017 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

   
1Like our page
2Share
FinanceNews
A key lawmaker is demanding that more than 100 mortgage companies determine whether foreclosure documents they approved contain errors and reveal their findings.Sen. Robert Menendez, D.-N.J., says he sent letters to three banks that have halted foreclosures in 23 states...
US,Foreclosure,Freeze
118
2010-38-05
Tuesday, 05 Oct 2010 03:38 PM
Newsmax Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved