catlady60
Senior Member
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 __
__ No ___
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 __
__ No ___
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