PHILADELPHIA (Reuters) - Bank of America Corp (BAC.N) found mistakes in foreclosure files as it began a review of 102,000 cases, according to The Wall Street Journal.
The bank found errors in 10 to 25 out of the first several hundred foreclosure cases it reviewed, the newspaper said in its electronic edition.
The problems included improper paperwork, lack of signatures and missing files, as well as cases in which information about the property and payment history being unmatched, the newspaper said.
The bank has not found any evidence of wrongful foreclosures, the newspaper said.
The bank found the errors while reviewing less than 1 percent of 102,000 foreclosure files that need review before going back to the courts in 23 states, the newspaper said.
All 50 U.S. states have started a joint investigation of the mortgage industry, focusing on allegations that, for years, banks have not reviewed documents properly or have submitted false statements to evict delinquent borrowers.
Bank of America could not be immediately reached for comment.
(Reporting by Jessica Hall; Editing by Lincoln Feast)http://www.reuters.com/article/idUSTRE69O04220101025