Texas Insider Report: AUSTINÂ Texas Texas Attorney General Greg Abbott joined with the Mortgage Foreclosure Multistate Group a coalition of 49 attorneys general state-level mortgage regulators and bank oversight agencies that will jointly review improper foreclosure processing procedures. The Texas Attorney Generals Office will serve on the workgroups Executive Committee.
The Mortgage Foreclosure Groups chief focus will be the accuracy and validity of documents that lenders and servicers used to support foreclosure proceedings. Specifically the states will review whether individuals who confirmed facts supporting foreclosures either in affidavits or other related documents actually had personal knowledge of the facts to which they swore.
In recent weeks some lenders have acknowledged using electronic devices to sign sworn documents.
To the extent so-called robo-signing" was used to sign foreclosure documents questions arise about the actual personal knowledge of employees whose signatures appeared on the affidavits.
Thus because thousands of documents were reportedly signed electronically the states will review whether the signer actually confirmed the facts contained in their affidavits.
The workgroup will also review whether foreclosure paperwork was signed outside of the presence of a notary public contrary to state law.
Both judicial and non-judicial foreclosures will be subject to the workgroups review.
Texas Insider Report: AUSTINÂ Texas Texas Attorney General Greg Abbott joined with the Mortgage Foreclosure Multistate Group a coalition of 49 attorneys general state-level mortgage regulators and bank oversight agencies that will jointly review improper foreclosure processing procedures. The Texas Attorney Generals Office will serve on the workgroups Executive Committee.
The Mortgage Foreclosure Groups chief focus will be the accuracy and validity of documents that lenders and servicers used to support foreclosure proceedings. Specifically the states will review whether individuals who confirmed facts supporting foreclosures either in affidavits or other related documents actually had personal knowledge of the facts to which they swore.
In recent weeks some lenders have acknowledged using electronic devices to sign sworn documents.
To the extent so-called robo-signing" was used to sign foreclosure documents questions arise about the actual personal knowledge of employees whose signatures appeared on the affidavits.
Thus because thousands of documents were reportedly signed electronically the states will review whether the signer actually confirmed the facts contained in their affidavits.
The workgroup will also review whether foreclosure paperwork was signed outside of the presence of a notary public contrary to state law.
Both judicial and non-judicial foreclosures will be subject to the workgroups review.
