No Breaks for Robo-signing Computer Stamping Mortgage Documents

[1776Forever]

No Breaks for Robo-signing Computer Stamping Mortgage Documents
By Prashant Gopal - Nov 15, 2010 12:00 AM ET



http://www.bloomberg.com/news/2010-11-15/no-coffee-break-for-this-robo-signer-as-computer-stamps-mortgage-documents.html

Bryan Bly is a pen-wielding “robo- signer” at Nationwide Title Clearing Inc., inking his name on an average 5,000 mortgage documents a day for companies such as Citigroup Inc. and JPMorgan Chase & Co.

Those are just the ones that cross his desk.

Nationwide Title employs a computer system that automatically inserts a copy of Bly’s signature on thousands of digital files that he never sees. The system even affixes an electronic notary seal.

“The problem with the way these documents are created isn’t because a computer is used,” said Gloria Einstein, a legal aid attorney in Green Cove Springs, Florida, who deposed Bly in a case in which her client faces foreclosure by a unit of Deutsche Bank AG. “It’s because an enterprise has decided to use a computer to create a system where nobody is responsible for the information and the decisions.”

The rush to securitize more than $4 trillion of mortgages as U.S. home sales peaked in 2005 and 2006 inundated loan servicers and contractors like Palm Harbor, Florida-based Nationwide Title that help them handle paperwork. Lawsuits fighting some of the more than 4 million foreclosures since then have exposed sloppy recordkeeping and raised questions about the validity of documents used to seize properties.

(more at link)

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I know you weren't surpised.

[Catherina]

1. Not surprised but still disgusted. n/t

[notesdev]

2. Someone is responsible for those decision

That would be the executive(s) who decided to build such a system. That's why they get paid the big bucks, right?

[DCKit]

3. "The system even affixes an electronic notary seal. "

Illegal, illegal, illegal.

Then again, how can I get my computer a notary license? It could prove very useful.

[tridim]

4. None of this stuff matters really.

I have no signatures, no notary seals and no assignments at all since 2002. The fake bank is still foreclosing.

[1776Forever]

5. I see your side. I also think it is important to realize just how inhuman things have come to be

handled by these present day robber barons. It is almost like they are the robots and they have no consciences at any level. I don't know how they do it but they seem to be happy in what they do and have made enough millions out of it to only loose a few in the process of "defending" their actions. Sad!

This article says it well:

Psychopaths Have No Conscience
Written by Melinda Pillsbury-Foster
Thursday, January 21 2010 08:31 pm

http://lonestaricon.com/index.php?option=com_content&view=article&id=453:psychopaths-have-no-conscience&catid=36:guest-commentary&Itemid=70

How or why would any sane person DO THAT?

He constantly asks for sympathy, takes risks, lies to you and when caught shows no remorse. It is unsettling, frightening. Somehow it is your own fault. But what or why would anyone do these things? There is an answer.

The terms, "psychopathy," "sociopath," "sociopath," and others refer to individuals who look human but, in elemental ways, are not. They harbor a condition which cuts them off from us. Some of the automatic emotional reactions, foundational to limiting wrong behavior, do not seem to exist. These individuals emulate compassion, concern, affection, kindness and love – only to further their purposes. They feel no compunction about stealing, lying, or committing crimes to achieve their goals. They consistently demand sympathy, knowing perfectly well they deserve none.

They do not want or need sympathy. But they do want you to feel sorry for them, to desire to help them. It is all manipulation, emotions simulated to get what they want. They know we feel sorry for them and project the existence of emotions they never feel, just another lie.

People catching their eyes sometimes report feeling a chill of fear, as if looking into the eyes of a predator . Psychopaths are predators among us. The pain and suffering of those around them mean nothing, is pleasure to them. Their motivations seem inexplicable to the emotionally normal, who comprise the vast majority of the population .

Psychopaths have no conscience....

If winning is the only thing that matters there is nothing you will not do. Recognizing no limits, psychopaths ignore the damage to others. As any small, determined group can change the world for the good, as Margaret Mead said, so a small number of individuals could destroy it. We need, therefore to limit the access of psychopaths to power while identifying them to the public.



(more at link)

[struggle4progress]

6. I hope Mr. Bly spends many many years of his life defending himself in court for fraud