The bank is the second major company to take such action this month, underscoring a growing legal problem about identifying the holder of the original mortgage note. The issue could stall an already overloaded foreclosure process. Analysts do not expect the delays to reduce the number of foreclosures in the long run.
“It will probably slow things down for a couple months while these documents are reviewed,” said Rick Sharga, a senior vice president at foreclosure listing service RealtyTrac Inc. “It won’t stop things.”
“It won’t stop things.”
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