“Joseph Stalin, the grotesque mass murderer, had the answer: ”A single death is a tragedy; a million deaths is a statistic.” Rather than prove Stalin right yet again, law enforcers need to take this mortgage industry’s systematic disdain for our legal system seriously. Bring on the indictments.


The American Home Servicing lawsuit against consummate and prolific robosigner Lender Processing Services is a pretty good read, but if you don’t have the time, I’ve highlighted the best nuggets.

Page 1: American Home Servicing Inc. says that over 30,000 assignments of mortgage in Texas and across America are fraudulent—“improperly executed, notarized and recorded”.

Page 2: American Home renames robosigners “Special Officers” to suggest the robosigners were legitimately signing the assignments of mortgages.

The problem with the concept of Special Officer is that the robosigner’s title on the assignment of mortgage was generally “Vice President”, “Assistant Vice President” or “Assistant Secretary”, all normal corporate officer titles. That is, nothing in the robosigner’s title indicated he or she was a “Special Officer.” And in this context that omission seems deeply deceptive to me. Seems to me the court and the homeowner are supposed to look at the assignment and think a normal Vice President, Assistant Vice President, or Assistant Secretary signed it. Otherwise why not simply have the robosigners sign as “Special Officers”?

Further down page two, American Home says the reason the 30,000+ assignments of mortgage were fraudulent is that LPS used fake robosigners. That is, instead of using the “Special Officers”, LPS had other people forge the “Special Officers” names. The forgers, American Home points out, were not authorized by it.

American Home concludes that the forged robosigned assignments of mortgage have cost it dearly. Part of the cost is “an extensive remediation effort to identify and, where necessary, remedy any surrogate-signed assignments of mortgage.” Get that?  American Home is only replacing fake robosigned documents it says are fraudulent “where necessary.”

Check out the breakdown of the rest of the pages here…