Sources tell The Post that the AG is demanding that the biggest mortgage lenders Bank of America, JPMorgan Chase, Wells Fargo and GMAC Ally Financial halt foreclosures in the state effective immediately.
Cuomo is also pressing the institutions to hand over information tied to the false signatures in a practice known as “robo-signing”.
“I will not allow New Yorkers to lose their homes due to mortgage goliaths that buck the system by submitting fraudulent affidavits signed without knowledge of the facts,” the Attorney General said in a statement obtained by The Post.
“Such conduct is a fraud upon our courts and a slap in the face of New Yorkers struggling to get by in this economy. My office will continue to root out these practices so homeowners receive the full protections afforded by our judicial system.”
Cuomo’s actions follow a wave of outrage from hundreds of thousands of homeowners losing their houses based on shoddy paperwork and false documentation.
Forty other state attorneys general are expected to press for a nationwide foreclosure halt as early as tomorrow, according to reports.
Cuomo is asking the banks to suspend foreclosures actions, including pending foreclosures, evictions and foreclosure sales. Cuomo is also requesting that the mortgage servicers not file any new foreclosures until the companies correct their procedures.
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(Source: NY Post)
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One Response
and Mr. Cuomo only NOW noticed that the foreclosures were supported by obviously funky paperwork???? The subprime mortgages have been challenged nationally since at least 2007. Okay, he has an excuse, he’s been too busy running for office to notice such things.