Ally Financial (: ) said in its fourth quarter statement Tuesday that it has corrected roughly 90% of the approximately 25,000 foreclosure affidavits employees signed and filed improperly.
The bank earned $79 million during the fourth quarter. But it proved to be a period of corrections for the lender. Along with a multi-million dollar settlement with Fannie Mae over representations and warranties, the bank began correcting affidavits signed en masse and without a review of the documentation as required by law in 23 states.
Ally said all but 2,548 affidavits in three states have been remediated or re-executed. The bank did not disclose which states exactly, but added the delay was due to stricter foreclosure processes in those areas.
http://www.housingwire.com/2011/02/01/ally-financial-fixes-90-of-foreclosure-affidavits
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