I’ve written about Thigpen, but not a lot of other people outside of Guilford County, North Carolina have. I wasn’t sure how much penetration he was getting into the larger community. Well, my eyes have been opened. Jeff Thigpen is headed to Washington today.
|By: David Dayen Friday June 17, 2011 12:30 pm|
|By: David Dayen Tuesday June 7, 2011 1:15 pm|
Only now are we beginning to get the investigations showing the extent of the problems, between Field’s findings, the subpoenas and spade work from state AGs, the HUD Inspector General report showing that the banks filed false claims to recoup government-funded insurance on FHA loans, and the recent discoveries from county registers of deeds. One register, Jeff Thigpen of Guilford County, North Carolina, looked through the records in his office and found thousands of instances of fraudulent documents and forged signatures. Another register, John O’Brien of the Southern Essex District in Massachusetts, has decided to reject all robo-signed records coming into his office, forcing the entities wishing to foreclosure under his jurisdiction to file separate forms.
|By: David Dayen Sunday January 16, 2011 7:35 am|
In a major ruling Friday, a coalition of nonprofit defense lawyers and consumer protection advocates in Maryland successfully got over 10,000 foreclosure cases managed by GMAC Mortgage tossed out, because affidavits in the cases were signed by Jeffrey Stephan, the infamous GMAC “robo-signer” who attested to the authenticity of foreclosure documents without any knowledge about them, as well as signing other false statements.
|By: David Dayen Friday December 24, 2010 5:45 pm|
After the robo-signing scandal, the banks are still using automated systems designed not to catch the numerous errors in securitization and document preparation. They aren’t complying with the Supreme Court rule because if they did, they would have to admit fault, and possibly the inability to foreclose on the borrower.
|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.
|By: emptywheel Monday November 15, 2010 1:30 pm|
I guess some deadbeats are more equal than other deadbeats.
|By: emptywheel Monday November 15, 2010 6:06 am|
Chicago Sheriff Thomas Dart’s refusal to enforce foreclosures was based on a sample of foreclosures he reviewed; he found that only 5% of them had all their paperwork in order.
|By: David Dayen Wednesday October 13, 2010 11:45 am|
Ally Financial (the parent company of GMAC Mortgage) expanded their review of their foreclosure processes to all 50 states, the second mortgage servicer to do so after Bank of America; the Obama Administration supports the 40-state investigation by Attorneys General into foreclosure fraud.
|By: David Dayen Friday October 8, 2010 12:50 pm|
Attorney General Cordray is going to need some time to prosecute this case. But he has an election coming up in a little over 3 weeks, against former Senator Mike DeWine. The latest poll shows him slightly behind, 44-38. It is imperative that Cordray and his team be given the time to reach discovery in this case and untangle the crooked web everyone suspects is at the heart of the mortgage lending industry.
|By: David Dayen Wednesday October 6, 2010 2:10 pm|
In addition to seeking penalties from GMAC in the lawsuit for their violations of state laws and perpretration of fraud, Cordray wants a “preliminary and permanent injunction” against all foreclosures by GMAC in any pending case. If he were to file future lawsuits – and I believe he will – he would move to do the same in those cases. That would effectively end all foreclosure proceedings in Ohio, a judicial foreclosure state.