Deceased Woman's Name Was Robo-Signed on Thousands of Affidavits

[dixiegrrrrl]

And she died in 1995!

Martha Kunkle has come back to life.

She died in 1995. Yet her signature later appeared on thousands of affidavits submitted by one of the nation's largest debt collectors, Portfolio Recovery Associates Inc., in lawsuits filed against borrowers.
Some regulators complain that the use of Ms. Kunkle's name reflects an epidemic of mass-produced, sloppy and inaccurate documentation in the debt-collection industry. Lawsuits have surged as more borrowers fall behind on payments and collection firms turn to courts to get what they are owed.

After being sued for fraud, Portfolio Recovery Associates decided in early 2008 that any documents bearing Ms. Kunkle's name had "defects" and shouldn't be used when trying to collect debts, a company spokeswoman said.


( Worse yet, the Minnesota Attorney General called it..."corner-cutting"!!!!
Not FRAUD, but...corner-cutting.)

http://online.wsj.com/article/SB10001424052970204204004576049902142690400.html

[Poll_Blind]

1. That is darkly hilarious and somehow indicative of the corrupt situation on the whole.

:rofl:

PB

[dixiegrrrrl]

3. One of those "dunno whether to laugh or cry " moments, for sure.

[Cassandra]

2. Maybe her family...

should sue for back pay.

[CoffeeCat]

4. How does all of this not collapse the banking industry?

So many banks did business this way. Unfortunately, it was many of the big banks--otherwise known as the "too big to fail" banks.

With so many questionable mortgages out there, and with these types of rampant shenanigans, how on Earth can these mortgages be legal
documents? In effect, they are null and void, are they not?

It seems that many big banks are sitting on a ton of mortgages that are not legally binding.

Is this the next collapse?

[dixiegrrrrl]

5. The challenge to the banks will come from the players who have money and lawyers.

Those players happen to be the Mortgage Backed Securities funds that were supposed to have legal mortgages IN them, and now realize they do not.
So they, and the insurance companies who insured the funds, are suing the banks who have had to admit they do not have the mortgages...never DID have them.

The poor homeowner who is paying for a non-existent mortgage, that is another story. There may be some trickle down
effect from all the rich cats lawsuits.
Maybe.


The big banks are sitting on mortgages that have little legal value, they are sitting on foreclosed houses that have dropped a LOT in value, they are being sued by everybody but God over every part of this.

Buy stock in a law firm, I think.

[Demeter]

7. Only If Eric Holder Gets Off the Pot and Prosecutes

the Obama Justice Department has not impressed me.

[ThomCat]

6. So, they can issue fraudulent affidavits to legally certify

that they own a debt and that you own it to them, a judges will uphold these fraudulent affidavits.

If that doesn't invalidate the entire financial system, and in fact also the entire legal system, then nothing will.

There can be no confidence if the banks can fraudulently manufacture any document or statement that they want, and swear it is true and accurate, and the courts will enforce it. At that point we become slaves to whatever documents the corporations choose to create.

If we aren't enslaved it is merely because corporations haven't chosen to forge those documents yet, telling us that we have permanently chosen to live a lifetime of debt and servitude to one particular corporation.

[northernlights]

8. exactly

I'm waiting for the day when Bank XYZ forecloses with totally forged documents on my home, which I bought for cash 7 years ago from an elderly couple who owned it for 18 years before that...

Really, what's to stop them? (Except that the day a court threw me out in the street would be the day before I burned the place to the ground.)

[dixiegrrrrl]

9. . BOA has done that. They claim it was "accidental" but it has happeend too many times.

I am actually surprised there have not been more "fires" when homes have been illegally foreclosed on.

and if you live in a non-judicial state, they can foreclose leaving you with barely any notice and little time to defend yourself.

[elehhhhna]

10. THIS IS A CLEAR CASE OF FORGERY -- a Federal crime. Fraud and forgery.