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Allegations of Fraud Continue to Surround JP Morgan Chase's Foreclosure Processes

23.05.12

Roseville, CA (PRWEB) December 05, 2011

Run after is one of the major banks that announced a suspension of its foreclosure efforts in the fall of 2010 amongst revelations of industry-wide mortgage document fraud according to media reports at the period. In the rush to process hundreds of thousands of foreclosures, Chase allegedly employed people to furnishing the necessary signatures for the documents that allowed the foreclosures to go forward. This practice, garden-variety among the major banks, came to be known as “robo-signing” and has been the aim of lawsuits ever since.

Despite supposedly having put a stop to these practices last year, Pursue has continued to face allegations of wrongful foreclosure. The United Foreclosure Attorney Network has filed adapt against JP Morgan Chase recently in Superior Court in Martinez ( case # C-11-02390 ) alleging, among other things, that JP Morgan Go out after has not followed proper endorsement and transfer procedure before it has attempted to enforce Plaintiffs’ mortgage notes.

UFAN’s tailor is just one instance of many such examples of alleged wrongful foreclosure. Spotlighted as one of the more egregious cases of mortgage and foreclosure funny business in recent memory, JPMorgan Chase was recently found to have presented false assignments of mortgages in court in lodge to foreclose on properties (case # 16-2008-CA-3989, 4th Judicial Circuit, Florida). A recommendation to dismiss JP Morgan Chase’s foreclosure action argued that the bank presented itself as the holder of the note and mortgage when it was absolutely only the servicer of the loan. The Bank’s attorneys had allegedly prepared false assignment documents that they attempted to use in court to legitimatize the action.

Court documents reveal that while the Bank blamed the episode on a professional error, the Court found "clear and convincing evidence" that Chase had engaged in a "well-informed deception intended to prevent the defendants from discovery essential to defending the demand.”

Instances continue to occur that suggest such wrongful foreclosure practices are successive. An examination of more than 5000 mortgages assigned to Washington Mutual Trusts revealed that the assignments were indeed signed by JP Morgan Chase employees in order to foreclose, according to media reports . The employees allegedly signed on behalf of mortgage companies, and purported to choose mortgages and notes to Washington Mutual investment trusts that had actually closed years earlier. Washington Reciprocal was purchased by JP Morgan Chase after the assignments were supposed to have taken place. The amiss assignments where then used to initiate foreclosure proceedings on behalf of JP Morgan Follow.

UFAN is currently investigating instances of wrongful foreclosures such as these as part of its representation of JP Morgan Court borrowers.

ABOUT THE UNITED FORECLOSURE ATTORNEY NETWORK

UFAN Legal Circle, PC dba United Foreclosure Attorney Network (UFAN) is a Roseville, California-based law stubborn providing mortgage litigation and other debt related legal services. The dedicated attorneys and personnel at UFAN work tirelessly to seek justice and fight for the rights of its clients. For more knowledge call toll free 1-866-400-4242.

This release may constitute attorney advertisement. The information in this unshackle and on the UFAN website (ufanlaw.com) is for general information purposes only. Nothing in this release or on the UFAN website should be enchanted as legal advice. Prior successes are no guarantee of future performance. Case is inherently uncertain and results in litigation are never assured.

Source: PR Web (press release)