For months the major lenders and their mortgage servicing firms have been saying they have stopped all robo-signing and are cleaning up their acts. However, there is plenty of news and there are many examples that show the practice is alive and well.
Margery Gunter
87 year old Margery Gunter lives in Immokalee, Florida. She has lived in her home for 40 years. She admits to stopping payments on her two bedroom ranch house back in 2009. However, her attorney tells the media that there are many problems with the documents filed by OneWest Bank in their attempts to foreclose on the home.
• Florida law only allows the filing of a foreclosure if the filer already owns the mortgage, but
• OneWest’s “mortgage assignment” document that was filed with the court was recorded months after they filed their foreclosure.
The bank has no comment.
Mary Arthur
A resident of Dobbs Ferry, NY, Mary Arthur is 63 and legally blind. She works part time as an assistant in a doctor’s office. Originally from Trinidad, Mary became delinquent on her $427,500 loan after travel and funeral expenses due to the deaths of her parents and sister.
Select Portfolio Servicing threatened foreclosure on behalf of her mortgage holder, DLJ Mortgage (a unit of Credit Suisse). Mrs. Arthur entered into a trial mortgage modification with Select Portfolio and made her payments as agreed according to her attorney.
However, Select Portfolio filed a foreclosure action.
In two separate court cases, documents purported to be authentic copies of Mrs. Arthur’s promissory note were filed. Since it was one note, those documents should have been identical copies. However, they were signed by different people and named different mortgage bank owners. No comments are available from Credit Suisse or their two business units involved.
Missing Signatures and Other Irregularities
In multiple cases, it has been found that Wells Fargo didn’t obtain mortgage assignments , and hence the right to foreclose, until well after it filed foreclosure cases. In Florida foreclosure cases, it was found that Wells Fargo foreclosure filings on Option One Corp. (now defunct) mortgages had none of the required endorsements on the promissory notes.
A Reuters investigation into robo-signing has found that six known robo-signers are still turning out large numbers of mortgage assignments in 2011. One of these signers, Bryan Bly, has admitted to signing up to 5000 assignments per day at the loan servicing company Nationwide Title Clearing of Palm Harbor, Florida. He signed the documents as a “vice president” of Option One Mortgage, Deutsche Bank, Citibank and other institutions.
Despite all of the protestations to the contrary, it seems that robo-signing and other foreclosure irregularities are alive and well.
For months the major lenders and their mortgage servicing firms have been saying they have stopped all robo-signing and are cleaning up their acts. However, there is plenty of news and there are many examples that show the practice is alive and well.
Margery Gunter
87 year old Margery Gunter lives in Immokalee, Florida. She has lived in her home for 40 years. She admits to stopping payments on her two bedroom ranch house back in 2009. However, her attorney tells the media that there are many problems with the documents filed by OneWest Bank in their attempts to foreclose on the home.
• Florida law only allows the filing of a foreclosure if the filer already owns the mortgage, but
• OneWest’s “mortgage assignment” document that was filed with the court was recorded months after they filed their foreclosure.
The bank has no comment.
Mary Arthur
A resident of Dobbs Ferry, NY, Mary Arthur is 63 and legally blind. She works part time as an assistant in a doctor’s office. Originally from Trinidad, Mary became delinquent on her $427,500 loan after travel and funeral expenses due to the deaths of her parents and sister.
Select Portfolio Servicing threatened foreclosure on behalf of her mortgage holder, DLJ Mortgage (a unit of Credit Suisse). Mrs. Arthur entered into a trial mortgage modification with Select Portfolio and made her payments as agreed according to her attorney.
However, Select Portfolio filed a foreclosure action.
In two separate court cases, documents purported to be authentic copies of Mrs. Arthur’s promissory note were filed. Since it was one note, those documents should have been identical copies. However, they were signed by different people and named different mortgage bank owners. No comments are available from Credit Suisse or their two business units involved.
Missing Signatures and Other Irregularities
In multiple cases, it has been found that Wells Fargo didn’t obtain mortgage assignments , and hence the right to foreclose, until well after it filed foreclosure cases. In Florida foreclosure cases, it was found that Wells Fargo foreclosure filings on Option One Corp. (now defunct) mortgages had none of the required endorsements on the promissory notes.
A Reuters investigation into robo-signing has found that six known robo-signers are still turning out large numbers of mortgage assignments in 2011. One of these signers, Bryan Bly, has admitted to signing up to 5000 assignments per day at the loan servicing company Nationwide Title Clearing of Palm Harbor, Florida. He signed the documents as a “vice president” of Option One Mortgage, Deutsche Bank, Citibank and other institutions.
Despite all of the protestations to the contrary, it seems that robo-signing and other foreclosure irregularities are alive and well.