Wow.. Late night hat tip to on this one…


From the Washington Post…

Stephan answered the door at his house late Tuesday wearing a T-shirt and shorts. He said only “No, thanks” before retreating inside.


While Stephan and other robo-signers often serve as anonymous bureaucrats foreclosing on homeowners across the country, they also are kicking out their own neighbors.


“Robo-signer” played quiet role in huge number of foreclosures

SELLERSVILLE, PA. – The robo-signer lives on a quiet street in this small town an hour’s drive northwest of Philadelphia.

His modest two-story house, for which he paid $118,000, sits on a corner lot just down the street from the local Moose Lodge and an all-night diner. A weathered Chrysler Concorde is parked in the driveway, and a Toyota Camry sits by the curb.

Many large mortgage lenders have come to rely on a relative handful of so-called robo-signers such as Jeffrey Stephan, 41, to attest to the accuracy of thousands of home foreclosure documents across the country. These workers are not the Wall Street masterminds who created ever more complex mortgage-backed securities and fueled the subprime mortgage boom, but rather “affidavit slaves” with modest incomes and mountainous workloads.

Their actions are leading lawyers representing foreclosed homeowners to claim that lenders have no legal standing if the filings weren’t reviewed and verified, and to argue that the cases should be thrown out.

For nearly six years, Stephan – who declined to talk to a reporter – has made the daily commute south along Route 309, past cornfields and big-box stores, to an office park in Fort Washington.

From his cubicle inside a sprawling beige stucco building, Stephan works as the leader of the document execution team for GMAC Mortgage. He has signed off on as many as 10,000 foreclosures in a month, according to court documents. That’s barely a minute per case, assuming he works a normal eight-hour day…

You can check out the rest of the article here…