Bank of America Says Bank of America Does Not Make Mistakes


After freezing foreclosures in all 50 states, Bank of America announced tonight that it would resubmit documents, with new signatures, to get the process going again in the 23 states, including New York, that require a judge. They reviewed 102,000 cases, and, according to the Times, they “insisted that it had not found a single example where a foreclosure proceeding was brought in error.” The timing is probably no coincidence: The company’s third-quarter earnings will be announced tomorrow. Other lenders, like GMAC and JPMorgan Chase, are likely to reveal that they, too, are totally perfect and should be trusted in handling mortgages. [NYT, AP]