Foreclosure Defense Florida

IT IS A CRIME! (WITH NO PUNISHMENT, NO CONSEQUENCE)

mortgage-robosigningFrom Today’s AP story:

Mortgage industry employees are still signing documents they haven’t read and using fake signatures more than eight months after big banks and mortgage companies promised to stop the illegal practices that led to a nationwide halt of home foreclosures.

It is a federal crime to sign someone else’s name to a legal document. It is also illegal to sign your name to an affidavit if you have not verified the information you’re swearing to. Both are punishable by prison.

READ FULL STORY HERE

2 Comments

  • John Anderson says:

    Why would banks outsource the signing of documents for the bank? Why does the banks allow burger king kids to pose as bank officers, when it is a violation of banking regulations? These signers are not vested officers of the institutions transferring properties from one sham party to another.
    The only reason that I can come up with is the crime and punishment for fraud is less this way, and they don’t want to stop.
    And who’s going to make them?

  • Ralph DiLena says:

    Again This is another example of how MegaBanks have not only become too big to fail but the corporate execs have become too big to go to jail!

    Today’s Market Watch segment of the WSJ has an article well worth the read (see link below). In it Gary Shilling – renowned economist with an imposing record in predicting such events has just released his latest prediction on the economy.

    He predicts (quoted from Market Watch) America will plunge into a deeper, double-dip recession, and take the global economy down with it? ” A further 20% drop in house prices because of the depressing effect of 2 million to 2.5 million excess inventories” is setting up a crisis.

    Yes, the housing sector. Remember how Wall Street’s excessive greed grew for several years, then triggered the 2008 meltdown? That disaster’s never ended. Why? Because another 20% drop in housing ” would push underwater mortgages from 23% to 40% of the total, seriously depressing consumer spending, and wreak havoc among mortgages and related securities.”

    https://www.marketwatch.com/story/5-buys-5-sells-for-10-long-years-of-no-growth-2011-07-19

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