Bad Robot: Big Banks Are Still Faking Home Loan Documents

After getting caught last year falsifying legal documents as part of conducting illegal foreclosures, big banks promised never to do it again. In April, more than a dozen large mortgage servicers also signed agreements with financial regulators pledging to stop “robo-signing,” as the practice is known, and to fix their foreclosure procedures. The result, Reuters reports:

[S]ome of the biggest U.S. banks and other “loan servicers” continue to file questionable foreclosure documents with courts and county clerks. They are using tactics that late last year triggered an outcry, multiple investigations and temporary moratoriums on foreclosures.

In recent months, servicers have filed thousands of documents that appear to have been fabricated or improperly altered, or have sworn to false facts.

At least five of those banks and servicers — Bank of America (BAC), GMAC Mortgage, HSBC Bank USA, OneWest and Wells Fargo (WFC) — have recently filed documents of “questionable validity,” according to the wire service. Same goes for other major servicers that didn’t sign on to the government settlement.

Read the rest of the article at BNET