Tag Archives: robo-signing

The Department of Justice on Feb. 15 announced a $35 million settlement with Lender Processing Services (LPS) subsidiary DocX, stemming from the so-called “robosigning” scandal of 2010. DocX was in the business of helping mortgage servicers file the legal documents required for foreclosures.   Second Settlement, Same Song The settlement follows the government’s allegations that DocX ran a scheme for six years to forge and file more than one million mortgage documents with property recorders around the country. It follows …

If you’ve lost your home to foreclosure  or your home is “underwater” (you owe more on your mortgage than your home is worth), and you believe it’s because your lender messed up, you’ve got just two more months to apply to the federal government for help. The Office of the Comptroller of the Currency and the Federal Reserve Board offer a program called Independent Foreclosure Review to people who have lost money or their homes because of errors by banks …

The foreclosure crisis isn’t over, but a new trend in real estate sales could be the light at the end of the tunnel for many borrowers and lenders. Short sales, which occur when homeowners sell their homes for less than what they still owe, outpaced foreclosures for the first time ever in January, according to a new report from Lender Processing Services, Inc. Another report by RealtyTrac estimates that short sales rose 33 percent between January 2011 and January 2012. …

Last week a federal judge signed off on a $26 billion settlement agreement negotiated between five major banks and attorneys general in 49 states and the District of Columbia. The banks were originally charged with having unlawful and unfair foreclosure practices. Among the allegations: Lenders employed “robo-signers” who signed off on foreclosure affidavits attesting they’d personally reviewed foreclosure documents without actually doing so Because of robo-signers and other shoddy practices, banks improperly foreclosed on homes   Does the Mortgage Settlement …

You’re still more likely to lose your house to foreclosure than to get help from your bank if you miss a mortgage payment, despite national headlines that suggest help is on the way. So far this month: Bloomberg News reported that some banks are paying property owners as much as $30,000 to sell their homes and move out, because that can be cheaper to the bank than foreclosing on the property. The Obama administration announced it would help lower mortgage …