Monday, July 18, 2011

AP Exclusive: Mortgage 'robo-signing' goes on

Where is robo cop when u need him? Probably having a robo donut at robo winchells....
The banking industry is really getting bad nowadays....makes you want to take out a loan doesnt it?
Instead of managing the default, the OBAMA regime should be overhauling the banking system as it
is hoarding money and foreclosing willy nilly

Michelle Conlin and Pallavi Gogoi, AP Business Writers, On Monday July 18, 2011, 5:00 pm
County officials in three states tell The Associated Press that an illegal practice known as "robo-signing" continues in the mortgage industry -- months after banks and mortgage companies promised to stop it.

Last fall, the nation's largest banks suspended foreclosures while they investigated robo-signing. That's the term used when someone in the mortgage industry forges a signature or signs a mortgage document without reading it.

In one Massachusetts county alone, the office that handles property deeds has received almost 1,300 documents with the name of a known robo-signer.

Critics say it's proof that the mortgage industry hasn't gone far

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