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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."

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