More Foreclosure Stops

Amid growing public anger over U.S. home seizures, Bank of America has suspended some of its foreclosures and JPMorgan Chase has come under investigation in California and Connecticut.

Bank of America said on Friday it is delaying foreclosures in 23 states to review whether it has been conducting them properly. 

Two other big lenders—JPMorgan and Ally Financial's GMAC Mortgage—have already suspended foreclosures.

Also, a Maine state court judge reprimanded GMAC Mortgage for how it repossesses homes. The judge concluded that GMAC submitted a company official's affidavit to support a foreclosure "in bad faith."

Companies are scrambling to defend and where needed improve their foreclosure procedures in the face of anger among homeowners and regulators.

The issue came to the forefront last month when GMAC revealed that officials had signed thousands of affidavits supporting such proceedings without knowing their contents. Banks are expected to take over a record 1.2 million homes this year, up from about 1 million last year and just 100,000 as recently as 2005, real estate data company RealtyTrac Inc said on Thursday.

Read the rest of the CNBC article HERE.