"Robo-Signers" Masquerading As Multiple Corporate-Hat-Wearing Vice Presidents Just "Affidavit Slaves" With Modest Incomes, Mountainous Workloads

A recent story in The Washington Post describes the multiple corporate-hat wearing vice presidents employed by foreclosing lenders, servicers, foreclosure mills, etc. around the country in this excerpt:

• Many large mortgage lenders have come to rely on a relative handful of so-called robo-signers [...] to attest to the accuracy of thousands of home foreclosure documents across the country. These workers are not the Wall Street masterminds who created ever more complex mortgage-backed securities and fueled the subprime mortgage boom, but rather "affidavit slaves" with modest incomes and mountainous workloads.

• Their actions are leading lawyers representing foreclosed homeowners to claim that lenders have no legal standing if the filings weren't reviewed and verified, and to argue that the cases should be thrown out.

For the story, see 'Robo-signer' played quiet role in huge number of foreclosures.