Accurate, Focused Research on Law, Technology and Knowledge Discovery Since 2002

Reuters investigation: many banks are still employing the controversial foreclosure practices that sparked a major outcry last year

Mortgage Mess Redux: Robo-signers return: “A Reuters investigation finds that many banks are still employing the controversial foreclosure practices that sparked a major outcry last year,” by Scot J. Paltrow, July 19, 2011.

  • “Reuters has found that some of the biggest U.S. banks and other “loan servicers” continue to file questionable foreclosure
    documents with courts and county clerks. They are using tactics that late last year triggered an outcry, multiple investigations and temporary moratoriums on foreclosures. In recent months, servicers have filed thousands of documents that appear to have been fabricated or improperly altered, or have sworn to false facts. Reuters also identified at least six “robosigners,” individuals who in recent months have each signed thousands of mortgage assignments — legal documents which pinpoint ownership of a property. These same individuals have been identified — in depositions, court testimony or court rulings — as previously having signed vast numbers of foreclosure documents that they never read or checked.”
  • Sorry, comments are closed for this post.