Today, U.S. Senator Mark Udall released the following statement after Bank of America announced that it was halting all home foreclosure proceedings while it reviews accusations of widespread fraud in foreclosure documents:
"The reports of robo-signing and fraudulent documentation used by banks in tens of thousands of foreclosure proceedings that have come to light over the last two weeks are extremely troubling. Homeowners on the brink of foreclosure deserve the assurance that their cases are being reviewed thoroughly, and that they aren't losing their homes based on forged documents and faked signatures.
"Bank of America was right to halt all foreclosures while it evaluates its filings, and I urge other banks to take responsible steps to ensure their foreclosure proceedings are based on properly prepared documents. We need to get to the bottom of this issue before any more consumers suffer from unfair and possibly illegal practices."