CHARLOTTE, North Carolina (
Bank of America
has acknowledged finding some errors in foreclosure files as it begins to resubmit documents in 102,000 cases, the
Wall Street Journal
The bank discovered errors in 10 to 25 out of the first several hundred foreclosure cases it examined starting last Monday. The problems included improper paperwork, lack of signatures and missing files, the
reports, citing people familiar with the results.
The nation's No. 1 lender said some of the defects seem relatively minor, and bank officials told the newspaper they haven't uncovered any evidence of wrongful enclosures.
Bank of America uncovered these mistakes while preparing less than 1% of the first foreclosure files that it intends to resubmit to the courts in 23 states, the
Bank of America, which hasn't previously acknowledged even minor mistakes, is under pressure, like many other lenders, to show that its mortgage process isn't flawed amid revelations that many banks used "robo-signers" to approve large numbers of foreclosure documents without reading them closely, the
All 50 states have launched investigations into the alleged flawed foreclosure processes.
-- Written by Joseph Woelfel
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