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Associated Press

NEW YORK (AP) -- In an effort to rush through thousands of home foreclosures since 2007, financial institutions and their mortgage servicing departments hired hair stylists, Walmart floor workers and people who had worked on assembly lines and installed them in "foreclosure expert" jobs with no formal training, a Florida lawyer says.

In depositions released Tuesday, many of those workers testified that they barely knew what a mortgage was. Some couldn't define the word "affidavit." Others didn't know what a complaint was, or even what was meant by personal property. Most troubling, several said they knew they were lying when they signed the foreclosure affidavits and that they agreed with the defense lawyers' accusations about document fraud.



Any idiot can face a crisis - it's day to day living that wears you out.
by ceebs (ceebs (at) eurotrib (dot) com) on Tue Oct 12th, 2010 at 08:31:05 PM EST
[ Parent ]
Oh lord.  Their own employees are admitting incompetence and fraud.

This gets better all the time.

She believed in nothing; only her skepticism kept her from being an atheist. -- Jean-Paul Sartre

by ATinNM on Tue Oct 12th, 2010 at 10:11:25 PM EST
[ Parent ]
But didn't you know? Fraud on the court is just a technical matter. It is fortunate that the biggies are about to go to legal/financial Armageddon. I don't get the feeling that, otherwise, The US Department of Justice would do anything about these "technical" problems.

As the Dutch said while fighting the Spanish: "It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Tue Oct 12th, 2010 at 10:58:13 PM EST
[ Parent ]
IANAL

Fraud is a tort and thus someone who commits fraud is open to a Civil Action.  

Knowingly committing a fraud rips the corporate shield, thus the Board of Directors and management become personally liable to the victim for compensation.

How that can play-out is anybody's guess.


She believed in nothing; only her skepticism kept her from being an atheist. -- Jean-Paul Sartre

by ATinNM on Wed Oct 13th, 2010 at 02:27:02 AM EST
[ Parent ]

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