November, 2010:

What is a robo-signer and why did some banks stop foreclosures?

Robo-signing is a media term used to describe the process whereby foreclosure affidavits were (allegedly) executed without being reviewed. As a result of the recent scrutiny, many lenders chose to curtail certain foreclosure processes. This is to allow for additional review to ensure that proper procedures are being followed. The current foreclosure moratorium is both voluntary and temporary. We expect foreclosure filings to resume very quickly.


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