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Strategies & Market Trends : Value Investing

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To: Spekulatius who wrote (43400)7/18/2011 8:59:56 PM
From: E_K_S  Read Replies (1) of 78644
 
Hi Clownbuck -

I wonder if "Linda Green" now works with BofA. Last year "Linda Burton" aka robo-signer was signing mortgage documents for several banks including BofA. It doesn't look like they fixed the problem. Do you really think they also fixed the way they account for their non-performing loans?

AP Exclusive: Mortgage 'robo-signing' goes on
AP Exclusive: 'Robo-signing,' at center of foreclosure probe last year, is still rampant
finance.yahoo.com

From the article:"...O'Brien returned the nine Burton documents to Bank of America in mid-June. He told the bank he would not file them unless the bank signed an affidavit certifying the signature and accepting responsibility if the title was called into question down the road. Instead, Bank of America sent new documents with new signatures and new notaries.

A Bank of America spokesman says Burton is an assistant vice president with a subsidiary, ReconTrust. That company handles mortgage paperwork processing for Bank of America.

"She signed the documents on behalf of the bank," spokesman Richard Simon says. The bank says providing the affidavit O'Brien asked for would have been costly and time-consuming. Instead, Simon says Bank of America sent a new set of documents "signed by an authorized associate who Mr. O'Brien wasn't challenging."

The bank didn't respond to questions about why Burton's name has been signed in different ways or why her signature appeared on documents that investigators in at least two states have deemed invalid.

Several attempts by the AP to reach Burton at ReconTrust were unsuccessful...."

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It's still a big fraud over a year ago when they were supposed to stop this robo-signing practice.

EKS
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