The Residential Real Estate Post-Crash Index-Moderated Message Board

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Strategies & Market Trends : The Residential Real Estate Post-Crash Index-Moderated

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To: Les H who wrote (26853)	9/10/2011 5:13:30 PM
From: Les H	2 Recommendations Read Replies (1) of 119360

Robo-Signing Redux: Servicers Still Fabricating Foreclosure Documents By Kate Berry, American Banker AUG 31, 2011 5:47pm EDT Some of the largest mortgage servicers are still fabricating documents that should have been signed years ago and submitting them as evidence to foreclose on homeowners. The practice continues nearly a year after the companies were caught cutting corners in the robo-signing scandal and about six months after the industry began negotiating a settlement with state attorneys general investigating loan-servicing abuses. Several dozen documents reviewed by American Banker show that as recently as August some of the largest U.S. banks, including Bank of America Corp., Wells Fargo & Co., Ally Financial Inc., and OneWest Financial Inc., were essentially backdating paperwork necessary to support their right to foreclose. Some of documents reviewed by American Banker included signatures by current bank employees claiming to represent lenders that no longer exist. americanbanker.com

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