Bank of America, Citibank, JP Morgan Chase and Wells Fargo to Resume Uncontested Foreclosures in New Jersey

Judge Mary Jacobson issued a ruling yesterday allowing banks to resume uncontested foreclosure actions following a delay prompted by incidents of fraud and false swearing.  The court previously suspended foreclosure actions due to widespread allegations of "Robo-Signing" and other fraudulent actions.  As per a stipulation with the court, banks were required to adopt procedures preventing such future misconduct and provide the court with reports detailing such action.  Jacobson granted permission to Bank of America, Citibank, JP Morgan Chase and Wells Fargo based on reports from retired Judge Richard Williams. GMAC and One West Bank currently remain barred pending the court's further examination of their certifications.
 
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