Robo-Signing Banks Set to Be Punished?


Is the ever-evolving trend of quickie foreclosures, robo-signing, rocket dockets and more that banks have adopted as of late finally going to cause them to get more than a handslap? According to recent reports, the answer is yes.

Tom Ice of Ice Legal who was profiled in AOL Real Estate however, has a different viewpoint pointing specifically to the serious flaw in the investigation. "I have said it from the beginning that this process was going to take much longer than the months they have projected," he told AOL Real Estate. He points out the article in the Washington Post which highlights a group investigation by the federal government and 50 state attorneys general.

The worst part is the attitude of the courts and the attorneys, who in many cases still don't know who owns the loan on any given home. "In every single affidavit we are signing," says Ice, "it states that the plaintiff and the homeowners are the owner of the note."