Chase Acts to Broaden Foreclosure Reviews
For more: http://nyti.ms/cHU85U
On the same day that all 50 state attorneys general announced that they would investigate foreclosure practices, JPMorgan Chase & Company became the first big lender to acknowledge that it had stopped using Mortgage Electronic Registration Systems, or MERS, for foreclosures. This bank-owned registry, which eliminates the need to record changes in property ownership in local land records, has been criticized for sloppy practices.