Robo-Signing is a Crime … Only in Nevada
For years, I’ve known that banks robo-sign documents to facilitate their prosecution of foreclosure lawsuits. For years, I’ve lamented the absence of any sanction – criminal or otherwise - for this misconduct. Today, the sanction arrived. Sort of.
Nevada’s Attorney General has filed a criminal indictment against two supervisors of Lender Processing Services. You can read the indictment for yourself, but the misconduct is easy to understand – these LPS employees were executing and notarizing documents, then recording them in the Public records, yet the notary was not present when the documents were signed. That’s notary fraud, plain and simple, and it’s a crime.
Why Nevada, you ask? Well, that’s a darn good question. I have zero doubt – zero – that this misconduct has transpired on a widespread basis in Florida and many other states. So why aren’t there any criminal prosecutions in Florida, or anywhere besides Nevada?
The best way to answer that question is to explain how charges were filed in Nevada. In the eyes of Catherine Cortez Masto, Attorney General of the State of Nevada, the conduct by the LPS employees was criminal in nature and merited criminal prosecution. The Nevada AG had the discretion to file charges or not file charges and chose, obviously, to file charges.
In other states, like Florida, Attorneys General have chosen not to file charges. The conduct, undoubtedly, is the same, yet Pam Bondi and other Attorneys General have chosen to look the other way.
This is why the 99% are upset.
This is why people are Occupying Wall Street.
This is why Matt Taibbi laments the imprisonment of a woman for food stamp fraud but the absence of punishment for bank fraudsters.
This is why I write this blog.
Everyone needs to understand the widespread criminality transpiring in the foreclosure arena. And more people – far more people – need to act like Catherine Cortez Masto, Attorney General of the State of Nevada, and have the courage to do something about it.