Sunday, October 16, 2011

Feds, Mortgage Servicers Begin Paving Road To Robosigning 2.0?

Georgetown University Law School Professor Adam J. Levitin writes in Credit Slips:

  • Do you have what it takes to be a Mortgage Foreclosure File Reviewer Level 2? An intrepid researcher forwarded to me a job ad for a mortgage foreclosure reviewer who will be reviewing bank foreclosures per the OCC/Fed servicing fraud consent orders.

  • I have seldom seen a document that says more about the bullshit malarkey [striken language in the original] that the OCC and Fed are trying to pass off to cover for the banks than this job ad.

  • I think it demolishes even the thin fiction that the OCC/Fed servicing consent orders are anything more than Potemkin villages. Instead, what we have here is nothing less than a federally-blessed Robosigning 2.0.

For more, see Robosigning 2.0: Mortgage Foreclosure File Reviewers.

Thanks to Mike Dillon at for the heads-up on the post.

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