Foreclosure Probe Centering on ‘Robosigners’ at Law Firms

Note to all foreclosure lawyers and trustees:

If you or your colleagues are engaged in work that could justify the prefix “robo” — as in “robo-interrogatories,” “robo-due-diligence,” or “robo-electronic-discovery” — now might be a good time to reevaluate your illegal methods.

See, the word “robosigners” seems to be cropping up in regard to work lawyers and others did while working on foreclosures. And it’s caught the attention of the Florida attorney general, for one.

From Suite 350 at a suburban Atlanta office to a bevy of law firms in Florida, thousands of documents were signed, and many sworn to, in order to ensure that foreclosure proceedings were sound.

Now, that work—at a mortgage-processing company called Lender Processing Services Inc. and four foreclosure mill law firms that processed documents on behalf of lenders such as GMAC Mortgage and Citigroup Inc.—is at the center of an investigation in Florida. Lender Processing and the four law firms are being investigated by the Florida attorney general. At issue is whether improper paperwork taints tens of thousands of foreclosures.

The allegations: that paperwork processing at the law firms and lenders allegedly didn’t review all the information needed, such as who owned the loan or borrower financial information, the Florida attorney general claims.

Documents often were processed by what are known as “robosigners” who may handle hundreds of documents a day. These robosigners allegedly processed documents using inaccurate or incomplete information.

“There was a long history, apparently, of robosignings,” said Florida Attorney General Bill McCollum, who is investigating Lender Processing as well as four foreclosure law firms that allegedly fabricated foreclosure documents.

For more information on how to stop foreclosure see: The Bank Fraud Victim Center

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