Four of New Jersey’s six largest mortgage servicers got approval Monday to resume uncontested foreclosures after demonstrating they have taken steps to remedy improper “robo-signing” and other shoddy practices. Mercer County Superior Court Judge Mary Jacobson permitted Bank of America, Citibank, JPMorgan Chase Bank and Wells Fargo to begin bringing uncontested actions for the first time since December, when the judiciary effectively halted them. A special master, retired Appellate Division Judge Richard Williams, reported that the four institutions had made a prima facie showing that they implemented new processes. The six servicers, which account for a large chunk of New Jersey’s foreclosures, were implicated in the robo-signing charges.
New Jersey Law Journal August 16, 2011
