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.