Two reports are out today from the Associated Press and Reuters that are both the best in-depth main stream stories to date on the fraudclosuregate scandal.

This time it’s not coming from some crazy blogger, it is coming from some of the most “trusted” news sources in the world. Below are some excerpts but I urge you to read the article in its entirety at the link below.

The Reuters article will be in a separate post.

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AP Exclusive: Mortgage ‘robo-signing’ goes on

By MICHELLE CONLIN and PALLAVI GOGOI
AP Business Writers

Mortgage industry employees are still signing documents they haven’t read and using fake signatures more than eight months after big banks and mortgage companies promised to stop the illegal practices that led to a nationwide halt of home foreclosures.

County officials in at least three states say they have received thousands of mortgage documents with questionable signatures since last fall, suggesting that the practices, known collectively as “robo-signing,” remain widespread in the industry.

The documents have come from several companies that process mortgage paperwork, and have been filed on behalf of several major banks. One name, “Linda Green,” was signed almost two dozen different ways.

Critics say the new findings point to a systemic problem with the paperwork involved in home mortgages and titles. And they say it shows that banks and mortgage processors haven’t acted aggressively enough to put an end to widespread document fraud in the mortgage industry.

Suspect signatures on the paperwork include 290 signed by Bryan Bly and 155 by Crystal Moore. In the mortgage investigations last fall, both admitted signing their names to mortgage documents without having read them.

Most of the tainted mortgage documents in question last fall were related to homes in foreclosure. But much of the suspect paperwork that has been filed since then is for refinancing or for new purchases by people who are in good standing in the eyes of the bank. In addition, foreclosures are down 30 percent this year from last. Home sales have also fallen. So the new suspect documents come at a time when much less paperwork is streaming through the nation’s mortgage machinery.

The signature of a qualified bank or mortgage official on these legal documents is supposed to guarantee that this information is accurate. The paper trail ensures a legal chain of title on a property and has been the backbone of U.S. property ownership for more than 300 years.

It is a federal crime to sign someone else’s name to a legal document. It is also illegal to sign your name to an affidavit if you have not verified the information you’re swearing to. Both are punishable by prison.

In the Massachusetts case, The Associated Press tried to reach Linda Green, whose name was purportedly signed 1,300 times since October.

Be sure to check out the rest here…

And be sure to share this with everyone you know…

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4closureFraud.org