Tuesday, October 12, 2010

Robo-Signers: Mortgage Experience Not Necessary

Banks hired hair stylists, teens to process foreclosure documents, workers' testimony shows.In an effort to rush through thousands of home foreclosures since 2007, financial institutions and their mortgage servicing departments hired hair stylists, Walmart floor workers and people who had worked on assembly lines and installed them in "foreclosure expert" jobs with no formal training, a Florida lawyer says.
In depositions released Tuesday, many of those workers testified that they barely knew what a mortgage was. Some couldn't define the word "affidavit." Others didn't know what a complaint was, or even what was meant by personal property. Most troubling, several said they knew they were lying when they signed the foreclosure affidavits and that they agreed with the defense lawyers' accusations about document fraud.
"The mortgage servicers hired people who would never question authority," said Peter Ticktin, a Deerfield Beach, Fla., lawyer who is defending 3,000 homeowners in foreclosure cases. As part of his work, Ticktin gathered 150 depositions from bank employees who say they signed foreclosure affidavits without reviewing the documents or ever laying eyes on them -- earning them the name "robo-signers."

More Here..


  1. Do not worry about the Ponzi banksters they will try and avoid the rule of law and will just try and pay politicians off to try and fix their own current cash flow problems.

    But the actual title itself may not be fixed.

    Will you making all your mortgage payments only to get to the end and be met without a chance to get a good title ?
    If the banks, because of fraud and for tax dodging reasons of not completing the paperwork and registering changes ,assignments of mortgages to other parties, cannot even prove their own title,how can the pass on a good title to you? ?

    You may be making payments for nothing.

    Easy to use forms to find out are available here.

    Demand to see your mortgage note.

    As zero hedge says ;
    Well, if you can spare 3 minutes then "Where's the Note" is for you. The website, which is on the verge of a viral break out, has a simple message: "Whether you are facing foreclosure, have an underwater mortgage, or are just a concerned homeowner, it’s important that you contact your bank and demand to see the original note on your mortgage. It only takes a few minutes using our free online tool." Quick, simple and easy. And in a few days your mortgage bank will have no choice but to tell you if they do in fact have your original mortgage note. And if not - welcome to cost-free living, courtesy of MERS and millions of rushed and fraudulent mortgage note assignments.

  2. Concerned about the banksters and the morality ?
    No problems.It all works like this from the Fed bank down.
    The banksters themselves are not interested in morality only cash collection .
    They are perfectly willing to toss you out on the streetat anytime.

    Your deposit was a first free gift anyway, they have got and spent that profit as dividends to their shareholders, already .
    In addition ,first of all with fractional reserve banking most Mortgage debts were simply Usury tickets “printed out of fresh air’ by the banksters,a book entry registering an agreement by you to pay the full amount they simply wrote on the contract .
    They were not concerned about any morality in that deal that’s just the way usury banking works.You were probably a willing victim as it seemed good to you too.

    But ,instead of the old conservative way of holding the mortgage themselves for a slow payoff over many years ,the banksters went in for a quick killing and got it all in one lump sum.
    They found some suckers in casino capitalism . Lots of them foreigners who thought they were getting American certified AAA debts backed by good property security.
    So , The banksters have already collected their money in full when they sold all of that dud sub-prime and other “securitised” bond stuff to other suckers ,including to Fannie and Freddie and the US Treasury and in the end ,the Fed who nationalized mountains of the dud bond debts by buying a stack of these bonds marked to top fantasy value in the great Ponzi bailout.
    all paid out in full cash to to the banksters and property sector scammers

  3. Perspective from Gonzalo Lira:

    Link: Second Leg Down
    The move by the United States Congress last week, to sneak by the Interstate Recognition of Notarizations Act? That was all the banking lobby—they wanted to shove down that law, so that their foreclosure mills’ forged and fraudulent documents would not be scrutinized by out-of-state judges. (The spineless cowards in the Senate carried out their Master’s will by a voice vote—so that there’d be no registry of who had voted for it, and therefore no accountability, the corrupt pricks.)
    And it won’t matter if a particular case—or even most cases—were on the up-and-up: It won’t matter if most of the foreclosures and evictions were truly because the homeowner failed to pay his mortgage. The fraud committed by the foreclosure mills casts enough doubt that now, all foreclosures come into question. Not only that, all mortgages come into question.

    People still haven’t figured out what this all means—but I’ll tell you: If enough mortgage-paying homeowners realize that they may be able to get out of their mortgage loan and keep their house, scott-free? Shit, that’s basically a license to halt payments right the fuck now. That’s basically a license to tell the banks to fuck off.

    What are the banks gonna do—try to foreclose and then evict you? Show me the paper, motherfucker, will be all you need to say.

  4. 10.31
    Yes ,that article you linked to lays out the problems well.

    In all its magnificence!

    Dont worry too much about man made climate change for a while .

    Worry about "rule of law" US contract law and Bankster made Mortgage Fraud on a Catastrophic scale bringing a quicker takedown of the already insolvant Ponzi economy.
    Recent purchasers of a house will not know if they bought a "brooklyn bridge" title from a con-man .

  5. You are being played again. This is like a magician who distracts you while they do their sleight of hand. The banks were indeed swamped with bad mortgages and they rushed the paperwork but no one is denying that these mortgages are indeed in foreclosure. This who propaganda effort by the government is to convince you that the banks are the bad guy but the politicians are on your side. There is a blizzard of paperwork in a mortgage and if one piece of paper is missing or incorrect it creates a legal problem but it does not change the fact that the borrower is in default and the bank needs to foreclose to rid themselves of the debt. If the government is successful in delaying this it will ONLY make things worse. It will take longer for this crisis to end and it will be a deeper crisis because of it. Make no mistake the great depression lasted 11 years because the government did everything wrong. The only thing that pulled us out of the great depression was WW II. The government is about to make everything worse and if you think that banks will be the ones who suffer most you are a fool.


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