Bank of America, Wells Fargo, and others have joined GMAC and JPMorgan under the microscope as bank regulators order major servicers to review their foreclosure procedures for robo-signing and flawed documents.
Three of the nation’s largest mortgage servicers have halted foreclosures as scrutiny increases over whether they verify the required paperwork [1]. Several other servicers have also been faulted for foreclosure affidavits that were signed without much authentication, but they have not yet halted foreclosures.
Last week, we noted that the discovery of “robo-signers” [2] — employees who signed off on thousands of foreclosure documents without much, if any, knowledge of their accuracy — had caused Ally Financial’s GMAC mortgage unit to freeze foreclosures in 23 states where foreclosures require a court order.
GO HERE to read more.
DelMarVa's Premier Source for News, Opinion, Analysis, and Human Interest Contact Publisher Joe Albero at alberobutzo@wmconnect.com or 410-430-5349
1 comment:
The signers of those documents and the people who SHOULD have signed them have committed a crime. Has ANYONE been arrested? Or are they just "freezing" foreclosures until this hoopla dies down a bit and they can get on with slicing and dicing the American public?? TRY having one person reading and signing 18,000 of these documents in ONE month. This is what they said happened at GMAC. Just make sure you commoners pay your taxes, fees, fines and levys properly so nothing bad happens to you. In the meantime, we'll be busy foreclosing, committing crimes and laughing at the peasants. With, of course, no thought or worry about penalties or arrest.
Post a Comment