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4closureFraud Exclusive – President Obama Falls Victim to Chase Robo-Signer. "The Obama administration opposes a moratorium on home foreclosures, but wants problems involving improper paperwork resolved Like my dear friend at the Hamlet puts it. It’s not the foreclosure affidavits only.
When I first heard the term Robo Signer I had no idea what it was or what the people actually did. Did the home owners at the time erroneously loose their homes? Have these homes been re-sold in Maybe we do need Robo Cop to pay us a visit. Maybe he can clean up the mean streets of the.
The paperwork he robo-signed most often were the notices to delinquent borrowers that the servicer was proceeding to foreclosure. By signing that document, he was affirming that the bank had reviewed the loan and it didn’t qualify for a modification.
A robo-signer is an employee of a mortgage servicing company that signs foreclosure documents without reviewing them. In the third and fourth quarters of 2010, a robo-signing scandal emerged in the United States involving GMAC Mortgage and a number of major U.S banks.
Investigation – Law firms began withdrawing. documents – Banks suspended foreclosures. – As the mortgage industry grew, bankers began securing the notes in mortgage-backed trusts. fraudulent Practices come in all shapes and sizes. – Robo-signers.
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GMAC Spotlight On ‘Robo-Signer’. Robbie Whelan. Updated Sept. They are called robo-signers, putting their names on thousands of documents tied to mortgages facing foreclosure. Now, under pressure from borrowers, banks are halting foreclosures where the documents are signed by these.
The "robo-signer" problem. Midland Funding is a debt buyer-they buy old debts and try to collect on them. In many cases, affidavits play a critical role in these When an employee of Midland signs an affidavit, they are making sworn assertions based on personal knowledge that a person owes a debt.
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Robo-Signers Under Scrutiny – Foreclosures Temporarily Halted. Defining a Robo-Signer. Large mortgage lenders with tens of thousands of defaulted loans to deal with have been Basically it works like this.every home that is in a state of foreclosure is supposed to have a professional review the.