Robo-Signing Lives

That's what American Banker says. Presumably, American Banker knows something about the matter. Here's a succinct summary of what they say:

Several dozen documents reviewed by American Banker show that as recently as August some of the largest U.S. banks, including Bank of America Corp., Wells Fargo & Co., Ally Financial Inc., and OneWest Financial Inc., were essentially backdating paperwork necessary to support their right to foreclose.

Some of documents reviewed by American Banker included signatures by current bank employees claiming to represent lenders that no longer exist.

There are a number of examples in the article.

Mortgages are in the news today. The NY Times believes that the Federal Housing Finance Agency will be filing suits in the next few days against the major banks claiming the banks misrepresented the quality fo the mortgages they sold.