Monday, January 10, 2011

Tam Doan: I was a Bank of America robosigner - Oct. 28, 2010

It only took him a second to sign each foreclosure document.

That's how good Tam Doan got at his job in Bank of America's pre-sale foreclosure department in Southern California.

Of course, he didn't have time to actually read the paperwork he was signing, he said, and in some cases, he didn't even know what documents he was putting his pen to.

"I had no idea what I was signing," said Doan. "Either you were in or you were out."

The recent revelation that loan servicers had employees sign thousands of documents a month without verifying the information has thrown the foreclosure system into chaos. Judges are increasingly questioning whether the servicers have their paperwork in order.

From: http://ping.fm/fNn5t

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