Investigations in recent years into mortgage servicers, including Bank of America, CitiBank, JPMorgan Chase, and Wells Fargo, revealed numerous deficiencies in documents they filed in consumer bankruptcy cases that could have caused financial harm to homeowners seeking bankruptcy protection.
New reports issued pursuant to the National Mortgage Settlement of 2012 reveal that these servicers have been taking steps to remedy those deficiencies. The National Mortgage Settlement independent monitor, Joseph A. Smith Jr., released the reports Sept. 3.
“My reviews have confirmed that the servicers’ improvements and enhancements to their bankruptcy servicing practices address the facial deficiencies highlighted in my reports,” ...
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