Latest News
Mistakes widespread on foreclosures, lawyers say
Paperwork mistakes that led one of the nation's largest mortgage servicers to halt foreclosure evictions in 23 states last week have happened elsewhere and affect tens of thousands of foreclosures, say lawyers for homeowners.
Ally Financial's GMAC Mortgage acted after manager Jeffrey Stephan gave a statement to opposing lawyers that he had signed off on legal documents for 10,000 foreclosure papers a month without following verification procedures. Those lawyers say they've obtained similar statements from employees at JPMorgan Chase and OneWest Bank — formerly IndyMac Federal Bank— that court papers weren't properly verified before being filed.
"We've taken depositions at other servicing companies that take these documents without reviewing them," says Christopher Immel, a lawyer at Ice Legal in West Palm Beach, Fla. "They were filing fraudulently. It's rarely done correctly."
In one case, Erica Johnson-Seck, a vice president at OneWest, said she signed 750 foreclosure documents a week and didn't read each document before signing it, according to a 2009 deposition obtained by Ice Legal. She also said they were signed without a notary present.
In a May 17 deposition, also taken by Ice Legal, Beth Cottrell, a supervisor at Chase Home Finance, a division of JPMorgan Chase, said she was among eight managers who signed off on about 18,000 foreclosure papers a month.
Cottrell said she only reviewed the entire foreclosure document if another employee raised a question about it.
JPMorgan Chase declined to comment.
"How can a judge rely on something when the person who is signing it doesn't even know what they're signing?" says Ice Legal lawyer Dustin Zacks. "I find it very hard to believe it's limited to the few depositions we've taken."
In many states, servicers must file a motion in court to take possession of a home in a foreclosure. To support their motion, a representative has to verify they've reviewed the supporting documents, checked who owns the mortgage note and had a notary public witness their signature.
Ally Financial said Friday that delays in completing foreclosures should be resolved before year's end. It also said it's confident that processing errors did not result in any inappropriate foreclosures.
Fannie Mae and Freddie Mac are reviewing foreclosures on GMAC-serviced mortgages they own and have halted evictions on them until the review is done. Fannie Mae says it is also reminding servicers to follow proper procedures.
Click here to suggest an article
Mike's Blog
-
June 5th, 2013
Here's How We Built a Movie Theater for the People – and Why the MPAA Says It's #1 in the World
This past week, the Motion Picture Association of America (MPAA), the main federation of Hollywood's six major studios, posted on their web site a list of what they believe ...
-
March 23rd, 2013
This evening is going be a big moment in turning our country around on the issue of gun violence. That's why I desperately want you ...
-
March 21st, 2013
I am hosting a nationwide series of house parties this Saturday night where tens of thousands of people will gather together in living rooms to ...
-
March 15th, 2013
The response to my Newtown letter this week has been overwhelming. It is so very clear to everyone that the majority of Americans have had ...
-
March 13th, 2013
America, You Must Not Look Away (How to Finish Off the NRA)
The year was 1955. Emmett Till was a young African American boy from Chicago visiting relatives in Mississippi. One day Emmett was seen "flirting" with ...
-
February 26th, 2013
My Final Word on Buzzfeed and Emad Burnat's Detention at LAX
Thanks to everyone for bearing with me as I spend so much time on what happened to Emad Burnat. It's important to me because he's ...
-
February 26th, 2013
Michael Moore Responds to Buzzfeed Story on '5 Broken Cameras' Co-Director Emad Burnat
On Tuesday, February 19th, Emad Burnat, the Palestianian co-director of the Oscar-nominated documentary '5 Broken Cameras,' was detained with his wife and son at Los ...
-
September 11th, 2010
If the 'Mosque' Isn't Built, This Is No Longer America
OpenMike 9/11/10 Michael Moore's daily blog I am opposed to the building of the "mosque" two blocks from Ground Zero. I want it built on ...
-
December 14th, 2010
Why I'm Posting Bail Money for Julian Assange
Yesterday, in the Westminster Magistrates Court in London, the lawyers for WikiLeaks co-founder Julian Assange presented to the judge a document from me stating that ...
-
May 12th, 2011
Some Final Thoughts on the Death of Osama bin Laden
"The Nazis killed tens of MILLIONS. They got a trial. Why? Because we're not like them. We're Americans. We roll different." – Michael Moore in ...
-
November 22nd, 2011
Where Does Occupy Wall Street Go From Here?
This past weekend I participated in a four-hour meeting of Occupy Wall Street activists whose job it is to come up with the vision and ...
-
September 22nd, 2011
A STATEMENT FROM MICHAEL MOORE ON THE EXECUTION OF TROY DAVIS
I encourage everyone I know to never travel to Georgia, never buy anything made in Georgia, to never do business in Georgia. I will ask ...
-
December 16th, 2010
Dear Swedish Government: Hi there -- or as you all say, Hallå! You know, all of us here in the U.S. love your country. Your ...
-
November 2nd, 2010
This letter contains (almost) no criticisms of how the Democrats have brought this day of reckoning upon themselves. That -- and where to go from ...
Comments
1