Banking Law
Posted Sep 2, 2011 7:20 AM CDT
By Debra Cassens Weiss
The problem of robo-signed mortgage documents is more widespread and stretches back more years than originally thought.
Registers of deeds in counties across the country are finding suspect signatures on mortgage paperwork as far back as 1998, the Associated Press reports.And the problems aren’t confined to affidavits that banks file when a mortgage is issued. All sorts of mortgage documents have been improperly notarized, signed by people forging executives' names, or signed without an accuracy review, the story says.
In Guilford County, N.C., for example, a review of 6,100 mortgage documents filed since 2006 revealed that 74 percent have questionable signatures. In Salem, Mass., more than 25,000 mortgages dating back to 1998 had suspect signatures.
The problems can complicate home sales and mortgage applications. The findings have also hindered a settlement deal between state attorneys general and banks accused of improper mortgage practices, the story says.
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