Goldman Sachs to stop robo-signing TODAY.

These guys are above the law and should be shot on sight for helping destroy our economy, to wit...

Goldman to stop controversial mortgage practices

As part of the New York deal, the Goldman subsidiary said it will stop the practice of robo-signing mortgage paperwork. Robo-signing came to light last fall when it was revealed that the largest banks had outsourced mortgage paperwork to processing companies that, in turn, hired unqualified people to sign thousands of mortgage affidavits without reviewing loan documents. The practice is illegal. Many documents were also notarized them in a way that violates state law. The findings led to a temporary halt to most mortgage foreclosures in the fall of 2010.

Goldman, Litton and Ocwen also agreed to withdraw pending foreclosures if affidavits were robo-signed or inaccurate. The settlement requires the company to either RETURN PROPERTY that was wrongfully sold back to the original borrowers or provide compensation.

Under Thursday's settlement, Lawsky received a commitment from Goldman Sachs to help troubled homeowners by writing down $53 million in unpaid principal of home mortgages.

The deal also prevents Litton or Ocwen from adding late fees and other servicer fees that make it more difficult for delinquent borrowers to pay back what they owe.

 3 years ago called, it needs its solution back.


thought this was an autotune thread

Is robo-signing legal in the wrong forum, asshole?