JPMorgan Admits: One Of Our Employees Signed Thousands Of Foreclosures Without Reading Them


So, CNBC just rocked the end of this somewhat dull day on Wall Street by announcing that JPMorgan will suspend its foreclosure proceedings because some of its employees may have signed off on foreclosure documents “in error.”

The network says JPMorgan admitted that one employee alone signed off on thousands of foreclosures without even reading the documents.

What a fool!

What it means is that JPMorgan is delaying foreclosure proceedings to systematically review documents.

It all started last night when JPMorgan alerted attorneys that employees in its foreclosure operations unit may have signed affidavits without personally reviewing the documents. 

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at