Four Major Mortgage Servicers Get Approval To Resume Uncontested Foreclosures

Via New Jersey Law Journal

Four of New Jersey’s six largest mortgage servicers got approval Monday to resume uncontested foreclosures after demonstrating they have taken steps to remedy improper “robo-signing” and other shoddy practices. Mercer County Superior Court Judge Mary Jacobson permitted Bank of America, Citibank, JPMorgan Chase Bank and Wells Fargo to begin bringing uncontested actions for the first time since December, when the judiciary effectively halted them. A special master, retired Appellate Division Judge Richard Williams, reported that the four institutions had made a prima facie showing that they implemented new processes. The six servicers, which account for a large chunk of New Jersey’s foreclosures, were implicated in the robo-signing charges.

About the Author
Rhinold Ponder is the managing partner at Ponder Tuck Ponder, an aggressive firm which emphasizes litigation in consumer issuers and bankruptcy protection for debtors. Rhinold is also an accomplished artist and speaker on issues of consumer rights. He also operated The DIY Lawyer blog which focuses on redistributing justice and democracy by empowering through information sharing and education.

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