As first reported last week, three mega banks halted foreclosures earlier this month after receiving additional guidance from federal banking regulators.
American Banker first broke the news Friday.
By Monday, the news was taking the mortgage world by storm, with the Wall Street Journal reporting that JPMorgan had already resumed foreclosures. Meanwhile, foreclosures at Wells Fargo (WFC) and Citi (C) remain suspended, the Los Angeles Times reports.
This is the first significant block on foreclosures since the robo-signing inquiries back in 2010.