Updated to clarify scope of document errors.
NEW YORK (
may have to refile thousands of foreclosure documents, a managing director told Congress on Thursday.
In prepared testimony for a House subcommittee, Harold Lewis, a managing director at CitiMortgage, said the bank will probably have to refile all affidavits on pending foreclosures executed before the fall of 2009. Including affidavits processed more recently, it's reviewing about 14,000 affidavits.
Some may not have been signed in the presence of a notary, according to Lewis. Others may be affected by the practice of robosigning - when an employee signs off on hundreds or thousands of documents without properly verifying the information within.
Citi is "making every effort to ensure that no foreclosure goes forward based on an inaccurate or defective affidavit," Lewis said in testimony. "Citi has not suspended its foreclosure process and believes there is no reason to do so."
The robosigning scandal is plaguing the country's largest mortgage servicers.
Bank of America
temporarily halted foreclosure proceedings in judicial states while they reviewed hundreds of thousands of affidavits that may have flaws.
has indicated that 55,000 documents had to be refilled, though it hasn't stopped processing foreclosures.
Congress is examining the issue in hearings this week, following a report from the Congressional Oversight Panel on Tuesday. Regulators and all 50 state attorneys general are also investigating banks' foreclosure processes.
-- Written by Lauren Tara LaCapra in New York
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