Washington Post – Erica Johnson-Seck – OneWest Bank employee: ‘Not more than 30 seconds’ to sign each foreclosure document

Johnson-Seck estimated that she spends 30 seconds to sign every document.
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She explained that while she does not check everything, she does check some information,
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“which is why I said 30 seconds instead of two seconds.”

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The recent announcements by J.P. Morgan Chase and Ally Financial that they were freezing some foreclosures because of paperwork irregularities raises a key question: How many more mortgage companies employed “robo-signers?”

In a sworn deposition in July, Erica Johnson-Seck, an Austin, Tex.,-based vice president for bankruptcy and foreclosure for OneWest Bank, said she and her team of seven others sign 6,000 documents a week or about 24,000 a month without reading all of them.

Johnson-Seck estimated that she spends 30 seconds to sign every document.
She explained that while she does not check everything, she does check some information, “which is why I said 30 seconds instead of two seconds.”

In the past, the company had a quality control process that required signatories to check 100 percent of the debts and any figures for loans and bankruptcy, Johnson-Seck said. But the error rate was low, so now they only check about 10 percent of the documents.

You can check out the rest here…

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4closureFraud

Comments
3 Responses to “Washington Post – Erica Johnson-Seck – OneWest Bank employee: ‘Not more than 30 seconds’ to sign each foreclosure document”
  1. frank lato says:

    I AM BEEN FIGHTING ONE WEST BANK FOR 4 LONG YEARS ON ILLEGAL FORCLOSURE .BANKS MONEY AGAINSTIST ME

  2. Cecilia says:

    One response out of how many? As a vice president you’re expecting her to review and verify every document submitted. Isn’t that why they have customer service, REO and mediation Departments. Mrs Seck is the least of our problems but an easy escape goat. As a Realtor who helps homeowners try to avoid foreclosure we spend weeks and months with customer service and mediation departments submitting and reviewing documents before a final foreclosure is signed or modification or short sale is approved. Robosigners is cute and catchy but just an escape goat for the reality that we’ve all created.

  3. joe p says:

    Thanks for making my day

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