A foreclosure firm listed “Bogus Assignee” as the mortgage owner on the documents they submitted to the court to process the foreclosure. That’s one of the many oddities surfacing in the investigation of a Florida foreclosure firm for allegedly using improper documentation to speed up foreclosures. Another is an employee “Linda Green” who signed of on thousands of foreclosure affidavits claiming to be executives from Bank of America, Wells Fargo, U.S. Bank and other lenders.
Many of the signatures look like they were forged by other employees, reports the Washington Post:
David Berenbaum, chief program officer for the nonprofit National Community Reinvestment Coalition, said companies eager to get bad loans off their books quickly have given rise to a foreclosure system that is as faulty as the excessive lending that created the problem in the first place.
“What’s happened here is that there are these foreclosure machines that don’t do due diligence and that are profiting at the expense of consumers,” he said.
They get ya coming and going.
Under piles of paperwork, a foreclosure system in chaos [The Washington Post] (Thanks to MercuryPDX!)