It seems some lenders have not necessarily been above board with their foreclosure processes. Several revelations concerning these processes have come to light over the past couple weeks prompting the Office of the Comptroller of the Currency to order several large lenders to review their procedures. Both GMAC and JP Morgan Chase have halted pending foreclosures, while the following lenders have been contacted and ordered to review their foreclosure procedures: Bank of America, Citibank, HSBC, PNC Bank, US Bank and Wells Fargo. Below is a link the an article providing discussing the situation in greater detail.
The Washington Post