Description

Judge Marilyn Shea-Stonum, the chief judge of the U.S. bankruptcy court in northern Ohio, is requiring that Countrywide Home Loans, now part of Bank of America, complete a special form each time it seeks a foreclosure in Ohio.

The Judge’s requirement comes after finding that Countrywide had sought to foreclose a home despite the fact that the borrower, O’Neal, had previously paid off the mortgage. Additionally, Countrywide continued to seek monthly payments even though it no longer held the mortgage.

The purpose of the form is to show how much is actually owed to the lender in the event of a foreclosure claim. In addition to the form — which is a summary of the foreclosure claim — invoices and other documentation are required to justify claim requests.

The judge's discussion of sanctions is attached. This is second of three files which should be read.

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