econintersect.com
  • 토토사이트
    • 카지노사이트
    • 도박사이트
    • 룰렛 사이트
    • 라이브카지노
    • 바카라사이트
    • 안전카지노
  • 경제
  • 파이낸스
  • 정치
  • 투자
No Result
View All Result
  • 토토사이트
    • 카지노사이트
    • 도박사이트
    • 룰렛 사이트
    • 라이브카지노
    • 바카라사이트
    • 안전카지노
  • 경제
  • 파이낸스
  • 정치
  • 투자
No Result
View All Result
econintersect.com
No Result
View All Result

Robots Now Used for Robo-Signing Mortgage Documents

admin by admin
10월 16, 2012
in 미분류
0
0
SHARES
0
VIEWS

Econintersect:  Robo-signing is the process of lining up documents to be signed one after the other with no examination by the signer.  It was a robot-signingSMALLpractice that was used to sign masses of documents in the mortgage processing back rooms during the height of the housing bubble.  The process may have been robotic but there were real people actually moving the pens and leaving ink marks on the paper.  Now a report from Deadly Clear and Naked Capitalism says that there is another group of American jobs lost to automation:  Robots are now signing mortgage documents.

Here is an excerpt from Deadly Clear‘s article:

Never let it be said that where there is big money invested, there won’t be crooks in the kitchen. It doesn’t matter how big you are there’s always a short cut that can that can potentially create more wealth – if you don’t get caught.

An investigator in the northwest uncovered just such a scam – so big that authorities claim it needs multi-state attention. It appears Green Tree Servicing has been flying under the radar and was hardly noticed until a recordation research team began uncovering similarly signed documents – yup, the old robo-signed Assignment of Mortgage trickery again… but this time new and improved via computer, maybe for speed and precision, ya think?

Naked Capitalism maintains that this is the sort of thing to be expected as a result of the slap on the wrist mortgage settlement that was agreed to by 26 states and the U.S. Department of Justice last year.  If there are not substantial penalties applied, the perpetrators will continue pushing the envelope of fraud further and further.  Here is an excerpt from Naked Capitalism:

Now cynics will correctly point out that Green Tree is a small operator. But that misses the point. Real estate was once a slow, deliberate business precisely because the integrity of property records is an important bulwark of capitalism (cue Hernando De Soto) and housing is most families’ most important asset. As Barry Ritholtz pointed out early in the robosigning scandal, this should be a zero fault business. It used to be that way (ex well constructed, typically local frauds) and the fact that, again and again, the banks have been both given a free pass and not required to clean up their bad practices, is the worst of all possible outcomes.

Pictures of computer signed documents are displayed at both Deadly Clear and Naked Capitalism.

John Lounsbury

Sources: Linked in the article.

Previous Post

Gold and Silver Peaking and Turning Down

Next Post

Infographic of the Day: Skills in High Demand Today

Related Posts

Bitcoin Is Finally Trading Perfectly Like 'Digital Gold'
Economics

Bitcoin Is Finally Trading Perfectly Like ‘Digital Gold’

by admin
Namibia Will Regulate And Not Ban Crypto With New Law
Finance

Namibia Will Regulate And Not Ban Crypto With New Law

by admin
6,746 ETH Valued At $12M Was Just Burned
Economics

6,746 ETH Valued At $12M Was Just Burned

by admin
Bitcoin Is Steady Above $29,000 Awaiting US NFP Figures
Economics

Bitcoin: What Next After Consolidation Ends?

by admin
US Government Offloads Another 8,200 Bitcoin – On-chain Data
Economics

US Government Offloads Another 8,200 Bitcoin – On-chain Data

by admin
Next Post

Infographic of the Day: Skills in High Demand Today

답글 남기기 응답 취소

이메일 주소는 공개되지 않습니다. 필수 필드는 *로 표시됩니다

Browse by Category

  • Business
  • Econ Intersect News
  • Economics
  • Finance
  • Politics
  • Uncategorized

Browse by Tags

adoption altcoins bank banking banks Binance Bitcoin Bitcoin market blockchain BTC BTC price business China crypto crypto adoption cryptocurrency crypto exchange crypto market crypto regulation decentralized finance DeFi Elon Musk ETH Ethereum Europe Federal Reserve finance FTX inflation investment market analysis Metaverse NFT nonfungible tokens oil market price analysis recession regulation Russia stock market technology Tesla the UK the US Twitter

Categories

  • Business
  • Econ Intersect News
  • Economics
  • Finance
  • Politics
  • Uncategorized

© Copyright 2024 EconIntersect

No Result
View All Result
  • 토토사이트
    • 카지노사이트
    • 도박사이트
    • 룰렛 사이트
    • 라이브카지노
    • 바카라사이트
    • 안전카지노
  • 경제
  • 파이낸스
  • 정치
  • 투자

© Copyright 2024 EconIntersect