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The home equity theft reporter: ally/gmac begins withdrawing affidavits From Another "Robo-Signer" After a solid September performance in the bond market, players in the residential mortgage backed securitization space do not appear overly concerned that the recent robo-signing allegations will somehow negatively knock on their trading.
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"Robo-signers," employees at mortgage servicers that sign thousands of foreclosure documents without review Several states have ordered a freeze on foreclosures by Ally Financial’s GMAC mortgage unit One robo-signer, Jeffrey Stephan, has signed off on as many as 10,000 foreclosures a month.
Robo-Signers Under Scrutiny – Foreclosures Temporarily Halted. Defining a Robo-Signer. Large mortgage lenders with tens of thousands of defaulted loans to deal with have been Basically it works like this.every home that is in a state of foreclosure is supposed to have a professional review the.
GMAC Spotlight On ‘Robo-Signer’. Robbie Whelan. Updated Sept. They are called robo-signers, putting their names on thousands of documents tied to mortgages facing foreclosure. Now, under pressure from borrowers, banks are halting foreclosures where the documents are signed by these.
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Recent revelations regarding mortgage companies’ use of "robo-signers" when processing foreclosure documents "may have concealed much deeper problems in the mortgage market," according to the Tuesday report by the Congressional Oversight Panel, an office formed to keep tabs on the bailout.