60 Minutes Exposes Foreclosure Paperwork Fraud

If you are considering fighting a foreclosure, you’ve probably heard a few snears–maybe not directly, but at least in the news or online, directed towards people in your situation.  As a foreclosure defense attorney, I certainly have.  I’ve even gotten them from judges who are skeptical that the banks really were as careless (and flat out fraudulent) with paperwork as we allege they were.

A few days ago, I wrote about the changing sentiment in America about foreclosures and the banks’ paperwork.  Little did I know, at the time I wrote that article, that one of the country’s most respected news outlets, 60 Minutes, would be doing a major piece on the very thing we at The Foreclosure Defense Blog have been preaching for a while–that the banks have been fraudulently creating documents to foreclose on homes, and that in many cases, they simply cannot find any ownship paperwork on the loans they claim to hold.  You can watch the 60 Minutes video here, or read the report here.  Both are very well done and worth a few minutes of your time.

The report investigates the back offices that created literally thousands of fraudulent documents–daily!–that were used to support bank foreclosures.  In one example, a lady named Linda Green was supposedly a vice president of 20 different banks at the same time and had her name signed (and notarized) by many different people.

60 Minutes identified several of the worst offenders–Wells Fargo, Citibank, U.S. Bank, Bank of America (likely in connection with their acquisition of CountryWide), HSBC, and Deutsche Bank.  Not surprisingly, none of the big banks would talk to 60 Minutes.

Of course, none of the news reported by 60 Minutes came as a surprise.  We’ve been saying this for quite some time, and we’ve been making these arguments in court too.

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  1. Bank Foreclosures Direct – Foreclosures and Bank Owned Property Information Site

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