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a wholly unremarkable opening premise, I admit, but 'tis so. The fraud was uncovered during a foreclosure hearing at which JP Morgan/WaMu misrepresented to the court that they had the right to foreclose on a property because they held the mortgage while in reality it transpires that they are merely the servicer of the mortgage.
This has lead to a a bit of a rethink at Morgan/WaMu and a slowdown in foreclosure activity. Similar messy relations may be behind GMAC's sudden go slow.
This has lead to a a bit of a rethink at Morgan/WaMu and a slowdown in foreclosure activity. Similar messy relations may be behind GMAC's sudden go slow.