Bank of America Corp., JPMorgan Chase & Co. and other U.S. banks told a New Jersey court that defects in their processes for seizing homes in the state can be remedied without halting foreclosures.
The banks have taken steps to improve their procedures, making a suspension unnecessary, they said in documents filed yesterday in state court in Trenton, New Jersey, and made public today. The filings came in response to a proposal to freeze foreclosures in the state by six U.S. banks while their procedures are reviewed.
The banks’ practices came under scrutiny after bank employees signed court documents in foreclosure cases without reviewing their accuracy, according to court papers.
“Bank of America fully appreciates the court’s concerns and looks forward to working with the court to address them,” the Charlotte, North Carolina-based company said. “The court should not take the steps outlined in the order because they are unnecessary and will cause a wholesale delay in administering foreclosure cases that is not in the public interest.”
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Links to documents filed…
- January 5, 2011 BOA-BAC Home Response
- January 5, 2011 GMAC-Ally Responsive Pleading
- January 5, 2011 JPMorgan Chase Response
- January 5, 2011 Wells Fargo Response
- January 5, 2011 Citibank-Citi Res Notice of Appearance
- January 5, 2011 Citibank-Citi Residential Response
- January 5, 2011 MTN AD PR HC VC – Brooks-OneWest
- January 5, 2011 MTN AD PR HC VC – McKeen-OneWest
- January 5, 2011 MTN AD PR HC VC – McKeon-JP Morgan
- January 5, 2011 OneWest Bank Response