Monday, July 18, 2011

Robo-Signing lives on.... affecting more than foreclosures!

EVERY AMERICAN should be concerned about Robo-Signing and this report proves what I have suspected about robo-signing affecting more than foreclosures... the highlighting is added.

County officials in at least three states say they have received thousands of mortgage documents with questionable signatures since last fall. Lenders say they are working with regulators to fix the problem but cannot explain why the practice, known collectively as "robo-signing," has continued.

Last fall, the nation's largest banks and mortgage lenders, including JPMorgan Chase, Wells Fargo, Bank of America and an arm of Goldman Sachs, suspended foreclosures while they investigated how corners were cut to keep pace with the crush of foreclosure paperwork.
and this:
Several attempts by the AP to reach Burton at ReconTrust were unsuccessful.
O'Brien says the bank's actions show "consciousness of guilt." Earlier this year, he hired Marie McDonnell, a mortgage fraud investigator and forensic document analyst, to verify his suspicions about Burton's and other names on suspect paperwork.
She compared valid copies of Burton's signature with the documents O'Brien had received over the past decade, including many since last October, and found that Burton's name was fraudulently signed on hundreds of documents. McDonnell did not review the nine documents with Burton's name that O'Brien has received since June 7.
Most of the documents reviewed by McDonnell were mortgage discharges, which are issued when a home changes hands or is refinanced by a new lender and are supposed to confirm that the previous mortgage has been paid off. Bank of America declined comment on McDonnell's findings.

READ the fulll article that is making me boil here: 

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