For the second time, the state has postponed a hearing for six of the country’s biggest mortgage lenders called to court to defend their foreclosure practices.
Edward Dauber, the attorney appointed to represent the state in the case, requested the extension to allow more time for the two parties to negotiate a settlement.
In December, Chief Justice Stuart Rabner ordered the six banks, including Citibank, JPMorgan Chase and Bank of America, to outline their past and present foreclosure processes. If the court finds any part unsatisfactory, all pending foreclosure matters will be suspended. The banks responded with hundreds of pages of documents, and earlier this month Dauber asked for an extension for his response.
The banks must now appear in court March 1, instead of Feb. 14. At that hearing, Judge Mary Jacobson will decide whether the banks’ foreclosures should be suspended, unless the case is settled out of court earlier.
Edward Dauber, the attorney appointed to represent the state in the case, requested the extension to allow more time for the two parties to negotiate a settlement.
http://www.nj.com/business/index.ssf/2011/01/hearing_for_states_biggest_mor.html
NJ Foreclosure Fraud Order on Document Irregularities
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