GMAC Mortgage Now Blames Eviction Halt On "Technical Defect", Says It Meant No "Disrespect" To US Judicial System
GMAC Mortgage has now definitively proven that they are completely unaware that once you are at the bottom of a really deep hole you should, generally, stop digging. In the latest twist in the increasingly more surreal saga of mishandled affidavits and possible outright title fraud, Bloomberg's Dakin Campbell reports that according to Ally spokesman Gina Proia, "the “defect” in affidavits used to support evictions was
“technical” and was discovered by the company. Employees submitted affidavits containing information they didn’t personally know was true and sometimes signed without a notary present, according to the statement. Most cases will be resolved in the next few weeks and those that can’t be fixed will require court intervention." Of course, this assumes a perfect world, in which tens if not hundreds of thousands of foreclosure notice recipients will not get the brilliant idea of hiring a lawyer on retainer and submit a fraudulent foreclosure claim against the servicer and/or mortgage holder (since nobody knows what the difference is anymore, probably both) leading to tens of billions in legal expenses, and the overturn of a like amount of previous eviction orders and rulings. The fact that money may well be owed and due is irrelevant: the fact that someone may have misappropriated billions worth of property that does not belong to them and based on willful fraudulent claims, as Alan Grayson wrote in his letter yesterday, however, very much is.
More from Bloomberg:
“The entire situation is unfortunate and regrettable and GMAC Mortgage is diligently working to resolve the situation,” Proia said. “There was never any intent on the part of GMAC Mortgage to bypass court rules or procedures. Nor do these failures reflect any disrespect for our courts or the judicial processes.”
No, alleged theft and unprecedented crime at never before seen levels, certainly mean no disrpected to the US judicial process. After all, who has any respect for that institution anyway? Let's not forget that in two months the SCOTUS will side with the Federal Reserve in the Pittman case, thereby eliminating any threat that someone who misappropriates hundreds of billions of "other people's money" based on a "technical defect" will ever have any (dis)respect for American laws. Also, let's not foget that the earlier finding of Court Fraud was targetted at JPM/WaMu, we are not sure why GMAC is suddently so defensive.
State officials are investigating allegations of fraudulent foreclosures at the nation’s largest home lenders and loan servicers. Lawyers defending mortgage borrowers have accused GMAC and other lenders of foreclosing on homeowners without verifying that they own the loans. In foreclosure cases, companies commonly file affidavits to start court proceedings.
“All the banks are the same, GMAC is the only one who’s gotten caught,” said Patricia Parker, an attorney at Jacksonville, Florida-based law firm, Parker & DuFresne. “This could be huge.”
Something tells us we know what kind of filings Parker & DuFresne is busy, busy, busy preparing today, on behalf of individual and class action plaintiffs.
Aside from signing the affidavits without knowledge or a notary, “the sum and substance of the affidavits and all content were factually accurate,” Proia wrote in the e-mail. “Our internal review has revealed no evidence of any factual misstatements or inaccuracies concerning the details typically contained in these affidavits such as the loan balance, its delinquency, and the accuracy of the note and mortgage on the underlying transaction.”
Affidavits are statements written and sworn to in the presence of someone authorized to administer an oath, such as a notary public.
Still, perjury would be a fun charge to add to felony embezzlement.
The rest of the article repeats things already discussed previously on Zero Hedge. Readers can find the full thing here.