robo-signing

Discussion in 'Dictionary Additions' started by catlady60, Oct 17, 2011.

  1. catlady60

    catlady60 Senior Member

    Pennsylvania (20mi/36km from the Poconos
    English-US (New York City)
    Term: robo-signing



    Your definition or explanation: the practice of banks hiring people to swear affidavits in foreclosure proceedings, when they have no actual knowledge of the matter.


    Example: America's leading mortgage lenders vowed in March to end the dubious foreclosure practices that caused a bruising scandal last year.

    But a Reuters investigation finds that many are still taking the same shortcuts they promised to shun, from sketchy paperwork to the use of "robo-signers."



    One or more places you have seen the term:
    http://www.focus.com/questions/what-is-robo-signing/
    http://www.dailyfinance.com/2010/10...l-spreads-documents-show-citi-and-wells-also/
    http://www.reuters.com/article/2011/07/18/us-foreclosure-banks-idUSTRE76H5XX20110718

    Have you looked for this term or meaning in dictionaries, and not found it? Yes __:tick:__ No ___
     
    Last edited by a moderator: Oct 29, 2011
     

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