NEW YORK (

TheStreet

) --

Bank of America

(BAC) - Get Bank of America Corp Report

has resumed some foreclosures after a pause when it admitted problems with its procedures.

Attorneys at the bank are proceeding 16,000 cases this month, according to a Bank of America press release.

Wells Fargo

(WFC) - Get Wells Fargo & Company Report

and

JPMorgan Chase

(JPM) - Get JPMorgan Chase & Co. (JPM) Report

are also restarting foreclosures after reviewing their procedures, according to a report in

The Wall Street Journal

.

Despite the positive news for the bank and its investors, Bank of America and other institutions are far from out of the woods when it comes to mortgage-related legal challenges.

A report from Compass Point Research & Trading suggests banks face a far greater threat from investors challenges to mortgage backed securities they created and sold.

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The report estimates Bank of America could lose more than $30 billion due to investor "putbacks" of MBS, more than any other bank. JPMorgan has the second most exposure among U.S. banks, followed by

Goldman Sachs

(GS) - Get Goldman Sachs Group, Inc. (GS) Report

,

Mortgage Stanley

(MS) - Get Morgan Stanley (MS) Report

and

Citigroup

(C) - Get Citigroup Inc. Report

.

--

Written by Dan Freed in New York

.

--

Written by Dan Freed in New York

.

Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.