Robo-Signing Redux: Servicers Still Fabricating Foreclosure Documents

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Robo-Signing Redux: Servicers Still Fabricating Foreclosure Documents

Robo-Signing Redux: Servicers Still Fabricating Foreclosure Documents

American Banker did an outstanding, superb job with this article. Please read.

American Banker-

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.

[AMERICAN BANKER]

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