Tuesday, July 19, 2011

Another mortgage crisis- robo-signing continues, loans missing, MERS under fire

AGBeat News

Housing is on fire, is lending the accelerant?

Is another mortgage crisis among us or is it the same crisis that has supposedly been resolved and rectified? Are all of the pieces that crashed housing still lying around acting as accelerant to the fire that is housing? Possibly.

This week, Reuters’ Scott Paltrow did an extensive study on robo-signing, missing promissory notes and the status of MERS, all of which were supposedly no longer problematic in the American mortgage world.

Robo-signing debacle is far from over

Recently, we asked who was to blame for the economic crisis? Fingers pointed everywhere with a large group blaming the robo-signing scandal (where banks didn’t manually review documents before foreclosure leading to illegal foreclosures on wrong addresses, homes paid in full and various other mistakes), including state and federal agencies seeking damages.

No comments:

Post a Comment

Everyone is encouraged to participate with civilized comments.