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View Diary: Nevada attorney general announces robo-signing indictments (81 comments)

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  •  I'm not sure that was the case. (7+ / 0-)

    I think the robo-signers could have used their own names.  The fraud has to do with verifying they had documents they didn't have.  I listened to Beau Biden explain it and I'm pretty sure that was the issue.  He said the banks didn't want to have to pay to record all the documents as they transferred ownership of the mortgages from institution to institution.  So they created their own recordation agency----MERS.  That agency failed to record all the data, so the banks had to "say" they had documentation they didn't have.  Thus, the fraud.

    Corporations aren't people; they're Republicans. Rev. Al Sharpton

    by HappyinNM on Thu Nov 17, 2011 at 12:30:59 PM PST

    [ Parent ]

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