Robosigning Revisited: Is the Foreclosure Documentation Crisis Spreading to Bankruptcy Courts?
Jonice Gray Tucker, Lauren R. Randell & Thomas A. Dowell
May 23, 2011
Jonice Gray Tucker, Lauren Randell and Thomas dowell of BuckleySandler LLP discuss how challenges to mortgage servicers' practices are arising in bankruptcy cases, as well as in lawsuits concerning foreclosures.
The foreclosure documentation crisis emerged in late September following the public release of a deposition in which an employee of a major financial institution acknowledged that he had executed affidavits of indebtedness, later filed in court, with little review of the information contained therein.
The alleged practice, now referred to as "robosigning," drew the attention of the national media, borrowers, consumer advocates, legislators, and federal and state regulators alike, suddenly putting the actions of every major mortgage servicer under a microscope.
Published by Thomson Reuters. Reprinted with permission.