Friday, April 1, 2011

More Fallout from the Robo Signer Fiasco

The Florida law firm Ben-Ezra & Katz is refusing to return thousands of original promissory notes, mortgages and other documents that “evidence and secure” $400 million worth of JPMorgan loans. The law firm, which is firmly situated at the heart of the robo-signer scandal, was terminated by JPMorgan in early March. The firm is refusing to hand over documentation on foreclosures that were handled by the firm, thereby preventing JPMorgan from reviewing files, continuing with foreclosure processes and determining if their representatives were, in fact, in the wrong in a foreclosure probe that stems from the robo-signer fiasco last fall. The probe is being handled by the Florida attorney general’s office, and Ben-Ezra & Katz is one of four firms still under investigation. The firm contends that it is owed $5 million from the bank and this is the basis for not turning over the documents.

Other firms in the crosshairs are also filing suits for payment. David J. Stern is currently suing Chase Home Finance for close to $400,000 that the firm claims was never paid. Ladies and Gentleman...this is the proverbial tip of the foreclosure iceberg

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