For Bank of America’s Home Loan Servicing division, Williams wrote that the company’s submissions showed “that it has processes and procedures in place” to ensure the information it submits in foreclosure cases is based on personal knowledge of the relevant records, “which were made in the regular course of business.”

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N.J. judge allows 4 major banks to resume uncontested foreclosure proceedings

TRENTON — Four of the country’s biggest banks can now resume their uncontested residential mortgage foreclosures in state court, a Superior Court judge ruled today.

The decisions come nearly nine months to the day after New Jersey Supreme Court Chief Justice Stuart Rabner cracked down on more than 30 residential mortgage lenders and servicers over fears judges had inadvertently “rubber-stamped” files with inadequate or inaccurate paperwork and people were unnecessarily put out of their homes.

Bank of America, Citigroup, JPMorgan Chase and Wells Fargo were among six financial institutions that filed more than 40 percent of foreclosures in state court last year. They were also selected for a document review because testimony nationwide indicated that the companies had previously encountered “robo-signing,” when employees of mortgage lenders sign foreclosure claims without any personal knowledge of the application’s contents.

Today’s decisions mean the banks — most of which have effectively stopped filing new foreclosures since December because of the court’s actions — can now go forward with thousands of pending and future cases.

Under the court’s order, the banks were required to submit paperwork explaining how they process foreclosures, including how they review documents, train employees and keep records.

Check out the rest here…

Documents

http://www.judiciary.state.nj.us/superior/documents.htm

http://www.judiciary.state.nj.us/superior/f_59553_10.htm

http://www.judiciary.state.nj.us/superior/f_00238_11.htm

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