Guy Cecala

Publisher, Inside Mortgage Finance

Guy Cecala appears in the following:

JPMorgan Chase Suspends Thousands of Foreclosures

Friday, October 01, 2010

JP Morgan Chase has suspended the legal proceedings around 50,000 foreclosures because the documents involved may have been processed incorrectly.

Overwhelmed by the housing crisis, mortgage companies hired employees to process foreclosure documents as quickly as possible, without ever reading, reviewing or verifying the cases before them. The process is called "robo-signing," and it accounts for an alarming number of seized homes. By some reports, these hired clerks were approving ten thousand foreclosures a month—some of them in error.

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Government's Role in Country's Ever-Collapsing Housing Market

Tuesday, July 20, 2010

The number of foreclosures on houses in the United States is growing at a rapid rate. The signs of a broken housing market have permeated nearly the entire country. With the federal government now in control of mortgage finance giants Fannie Mae and Freddie Mac, is it fair to blame the feds for the crisis?

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