The depositions of forclosure mill robo-signers which are now available on Youtube are must see viewing. It’s hard to grasp exactly how bad the situation is without watching the depositions. All of the depositions are informative. But if your time is limited, I’d recommend viewing the Dhurata Doko deposition.
I used to think that the forclosure mills rushed the process and did some fudging/forging as need be. But that’s not it all all. Not even close.
It’s not that the robo signers are signing forms as fast as thier hands will allow. But they are. It’s not that inaccuracies in the process are not caught. Though they aren’t. And it’s not that the robo-signers are fudging/forging. Though they are.
So what is it? It’s that the robo signers know absolutely nothing. It’s not possible for them to verify the accuracy of the information in the documentation because they do not have even a limited knowledge of what the forms/documents mean. They can’t even give a reasonable definition of the word ‘mortgage’. And when a title such as ‘VP Wells Fargo’ appears in print next to thier name and signature, they cannot explain in what capacity they provided the signature. Even a simple thing such as the meaning of the dates provided within the forms is beyond thier comprehension. If one form says they are located in Ohio and the next form says they are located in Nevada… they’ll sign them both(from thier desk in Florida). Pop a couple death warrants in thier in-box, they’ll sign those too!(Actually please don’t) All they know is… I sign where ever I find a printed version of my name on the form. Third graders could perform the exact same function as these robo-signers. And the depositions of the robo-signers provide a flash back to the old Sergeant Schultz line from Hogan’s Hero’s: “I know nothing-nothing! I hear nothing, I see nothing, I know nothing!”
Under what hiring practices do the forclosure mills operate? After watching the deposition I’m forced to believe that they intentionally hire the unqualified: People who are incapable of asking uncomfortable questions about the entire operation.
What type of due diligence did the banks perform when choosing which forclosure mills to employ?
How can the documents have any meaning when the process behind thier creation is so utterly mindless? Aren’t the signatures required for a reason?
We are throwing many millions of people out into the cold with the mindless flick of a pen. And that’s before even considering all the fraud in the ‘origination -> securitization&MERS -> ratings’ pipeline. But I suppose that’s the whole point of the robo-signing exercise, bury that fraud ASAP.
Every time a robo-signer signs, a banker gets his horns.
Welcome to Pottersville America!