Maybe the unemployed rocket docket judges could apply?

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Robosigning 2.0: Mortgage Foreclosure File Reviewers

Do you have what it takes to be a Mortgage Foreclosure File Reviewer Level 2?  An intrepid researcher forwarded to me a job ad for a mortgage foreclosure reviewer who will be reviewing bank foreclosures per the OCC/Fed servicing fraud consent orders. I have seldom seen a document that says more about the bullshit malarkey that the OCC and Fed are trying to pass off to cover for the banks than this job ad. I think it demolishes even the thin fiction that the OCC/Fed servicing consent orders are anything more than Potemkin villages. Instead, what we have here is nothing less than a federally-blessed Robosigning 2.0.

The ad is for a Mortgage Foreclosure File Reviewer Level 2 (whatever Level 2 means).  It states that the:

Key responsibility will be to determine if there was financial harm to the borrower.

It further states that the MFFR-L2 will:

Conduct a complete review of the foreclosure file to ensure all default timeframes were processed accurately.

Review to determine if ownership of the note and mortgage was properly documented when foreclosure was initiated, and document any exceptions.

Determine if the foreclosure was processed in accordance with applicable state and federal laws, to include SCRA and US Bankruptcy Codes, and document any exceptions.

Validate fees and penalties charged and assessed were reasonable, customary and within the applicable state and federal laws, and document any exceptions.

Now I’m just a simple law professor, but gosh, these sure look like legal questions to me. A determination of whether there is financial harm (as in whether the harm is legally cognizable) is a question of law, not a question of fact–it would go to a judge, not a jury. The amount of the damages are a fact question, but that’s a secondary inquiry after one determines that there was a legally cognizable harm. Similarly, proper documentation of the “ownership” of the note and mortgage is a legal question (and the legal terminology is not about “ownership” if the note is negotiable–itself a serious and unresolved legal issue).  And how about determining of the foreclosure was processed in accordance with applicable state and federal laws? That sure seems like something one would want a lawyer reviewing.  Same thing with the legality of fees and penalties.

So given this job requires a determination of a whole number of legal questions, it’s a job ad for a lawyer right?

Nope. No law degree required, much less experience in legal issues relating to foreclosure (and appropriate conflicts screening). Instead, consider the “Minimum Requirements” for the position:

Be sure to check out the rest here…

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4closureFraud.org