Mortgage companies apparently haven’t learned their lessons from the foreclosure fraud scandals, and continue to use automatic signatures on documents that employees never see. Last fall, major banks halted foreclosures, supposedly investigating why robo-signing was so prevalent. The banks re-started foreclosures in the winter after they re-submitted foreclosure paperwork with what they say were real signatures.
The AP reports county officials from three states say they’ve received thousands of robo-signed documents, and that robo-signing seems to still be rampant in the industry.
One county official told the AP “my office is a crime scene,” while another said “robo-signing is not even close to over.”
AP Exclusive: Mortgage ‘robo-signing’ goes on [AP via MLive]