Attorney General Eric Schneiderman announces a proposal making foreclosure robo-signing a felony

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Attorney General Eric Schneiderman announces a proposal making foreclosure robo-signing a felony

Attorney General Eric Schneiderman announces a proposal making foreclosure robo-signing a felony

Um…isn’t forgery and perjury already a crime?

NewsDay-

After making national headlines during the home foreclosure crisis, Attorney General Eric Schneiderman announced a proposal Wednesday to create a new crime in New York: foreclosure fraud.

The measure would make it a felony for firms to engage in “robo-signing,” a fraudulent practice that allowed companies to rapidly pursue foreclosures, triggering an explosion in cases. In some instances, the practice led to unlawful foreclosure proceedings.

Carrying a maximum sentence of four years in prison, the bill would for the first time treat mortgage fraud as “the serious crime it is,” the Democrat said.

“We can deter future abuse and spare untold numbers of families the trauma of wrongful foreclosure,” Schneiderman said in a statement.

[NEWSDAY]

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One Response to “Attorney General Eric Schneiderman announces a proposal making foreclosure robo-signing a felony”

  1. brian davies says:

    Don’t believe it. This is another sell out of this pitiful excuse for an attorney general. He is in bed with the banks. He has shown it. No reason for this leopard to change spots. Pitiful.

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