Daily Archives: May 23, 2013

Bankruptcy and Robo-Signing?


Robo-signing is the automatic signing of documents, without reading them.

What does that have to do with bankruptcy?  I’m glad you asked me that.

Robo-signing was one of many shortcuts used by the big banks that caused the real estate bubble, the explosion of which is still causing bankruptcy filings, both Chapter 7 and Chapter 13 bankruptcy, in Detroit, Michigan and around the USA.

One of the crooks was convicted recently, in Michigan.  Lorraine Brown was the president of DocX, a company based on robo-signing.  She

established and orchestrated a widespread scheme of ‘robo-signing,’ a practice in which employees were directed to fraudulently sign another authorized person’s name on mortgage documents in order to execute these documents as quickly as possible,” Schuette’s office said in a release.
(from WOOD-TV site)

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