Bank of America has halted all foreclosures in all 50 states, including Maryland and Virginia.
The Charlotte, N.C.-based bank froze foreclosures in 23 states Monday, and Friday said it was extending its review to all foreclosures nationwide.
â€œWe will stop foreclosure sales until our assessment has been satisfactorily completed,â€ Bank of America (NYSE:BAC) said in a statement. â€œOur ongoing assessment shows the basis for foreclosure decisions is accurate. Providing solutions for distressed homeowners remains our primary focus.â€
JPMorgan Chase (NYSE: JPM) and Ally Financial have already delayed some foreclosures.
Lenders have been accused of rushing the foreclosure process, with false or inaccurate documentation. Attorneys General in several states have launched investigations into homeowner complaints about the foreclosure process.