NEW YORK — In an effort to rush through thousands of home foreclosures since 2007, financial institutions and their mortgage servicing departments hired hair stylists, Walmart floor workers and people who had worked on assembly lines and installed them in "foreclosure expert" jobs with no formal training, a Florida lawyer says.
In depositions released Tuesday, many of those workers testified that they barely knew what a mortgage was. Some couldn't define the word "affidavit." Others didn't know what a complaint was, or even what was meant by personal property. Most troubling, several said they knew they were lying when they signed the foreclosure affidavits and that they agreed with the defense lawyers' accusations about document fraud.
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3 comments:
Mid term elections and no news reports concerning foreclosure rates....
I am sure the fact that somebody worked at Wal Mart is the key issue here
what makes a Wal Mart employee inferior to somebody at Fanny Mae?
Those 'robo-signers" must have missed the "I solemnly swear and affirm....' part. Sounds like they deliberately violated the law and were condoned by their superiors. Any arrests for fraud, misrepresentation, collusion, consipracy, etc? thats what I thought.....
2:36- the issue is not that they were Wal-Mart workers- it's that they did not receive training. I'm sure you would be livid if your home was foreclosed on and it shouldn't have been. Messing with someone's home is a big deal- not something that someone should just sign off on...
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