In case you were wondering whether Nevada’s indictment of a couple Lender Processing Services employees on robo-signing charges would be the end of the fraud prosecutions, with a Lynndie England-like prosecution of the low-level grunts and not the higher-ups, you can wonder no more. Today, Nevada’s Attorney General, Catherine Cortez Masto, filed suit against LPS itself for document fraud.
|By: David Dayen Wednesday November 30, 2011 12:45 pm|
Tracy Lawrence, a whistleblower who robo-signed tens of thousands of foreclosure documents and then aided the state of Nevada in their eventual indictments over the scheme, turned up dead yesterday. Police have reportedly ruled out homicide.
|By: David Dayen Thursday November 17, 2011 8:50 am|
A grand jury in Nevada yesterday indicted two title officers, Gary Trafford and Gerri Sheppard, on 606 counts of robo-signing between 2005 and 2008, a scheme that resulted in the fraudulent filing of tens of thousands of other documents with the Clark County register of deeds. This has the potential to be a groundbreaking case; it’s the first I can think of which actually indicts a robo-signer on criminal charges for fraud. And by going after the title officers, the Attorney General of Nevada, Catherine Cortez Masto, appears to be laying out a strategy to go up the chain and hollow out the entire industry and their illegal document fraud.
|By: David Dayen Monday August 15, 2011 7:01 am|
I’ve written about June Clarkson and Theresa Edwards, the two foreclosure fraud investigators at the Florida Attorney General’s office fired for being too competent in their investigations. This appeared to be a US Attorney-like scandal at the state level, but I wasn’t hopeful that much would come of it.
Boy, was I wrong.
|By: David Dayen Thursday March 31, 2011 5:45 pm|
Negotiators with the proposed mortgage servicer settlement sat down with leaders of the biggest banks for the first time. The state Attorneys General and federal regulators set out their position with a 27-page term sheet; the banks responded days before the talks with their own offer. It included two of the major policy changes in the AG term sheet. But it did not include any of the monetary penalties for commissions of fraud and abuse, and the third-party overseer it recommended could potentially be a way to get the unending foreclosure cases being fought by attorneys with clear knowledge of the fraud out of the hands of the courts. So this is a proposal from the banks to essentially do the job of servicing that’s within the bounds of the law, with no consequences for past lawbreaking.
|By: David Dayen Wednesday November 24, 2010 6:00 pm|
One reason why lawyers were so quick to see the patterns in robo-signing and mortgage documentation problems was that the same names kept cropping up on every single mortgage assignment. And the names would be listed as a Vice President and Assistant Secretary of one mortgage company in one note, and another mortgage company in another. And the handwriting on the signatures would vary wildly. And the assignment dates would be wrong.