Mortgage Industry Insider Acknowledges 'The Writing On The Wall' As Drumbeat Of Robosigning, Fraudulent Foreclosure Document Scandal Continues

Housing Wire publisher Paul Jackson writes:

• Believe it or not, mortgage servicing is a noble industry. Or, at least, it’s supposed to be. Even in managing borrower defaults and repossessing property, there is something noble to the work, underneath it all — and it comes from following the law, enforcing contracts, ensuring that our nation’s system of property rights maintains its integrity for all Americans.

• In many ways, for me, being involved in the machinery of servicing loans when I first started my career was sort of like being a financial cop; and it seemed to serve the same useful societal functions, too. There was purpose to the work that gave what we did meaning.

• Call it youthful idealism. That idealism is now dead for me, for many reasons, including getting older and gaining a more realistic perspective on the industry I've been a part of.

For more, see Foreclosure mess exposes the rot from within.