Yesterday, JPMorgan admitted that one of its employees signed off on thousands of foreclosure documents that he didn’t read.
Today, it got worse.
The bank announced they’re freezing a total of 56,000 foreclosures, signed by employees who were handed an impossible task.
JP Morgan has admitted that its foreclosure processors were under so much pressure to push through thousands of mortgage defaults that they rarely, if ever, reviewed the files for accuracy.
Now there’s a systematic investigation into the documents signed by the “robo-signers” who were told to sign off on more documents than they could read.