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According to reports in both the Washington Post and Bloomberg News, the faulty Morgan Chase documents contain inaccurate statements and instances of careless oversight on the part of bank managers.

Faulty Foreclosure Documents at Two Lending Institutions Lead to Further Scrutiny

According to mortgage industry analysts, the foreclosure document flaws at J.P. Morgan may also soon be found in other lending institutions, which could result in even more foreclosure freezes.

One example the Post cites is another mortgage lender, Ally Financial, formerly known as GMAC. This financial institution is also being scrutinized for its paperwork, reflecting the same issues as found at Morgan Chase.

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