The Nine Most "Inconvenient" RoboSigning Admissions BofA Would Love To Disappear

Tyler Durden's picture

As if the fact that the world economy has once again taken a turn for the worse (rising inflation in China, sinking everything in Europe, endless QE in the US) wasn't enough, that pesky problem of robosigning and fraudclosure just refuses to go away. And even though the major banks are doing their best to remove any reference of this problem, which will eventually be the final nail in the coffin sealing the first truly global great depression, from the mainstream media, here is a sampling of some of the choicest admissions by robosigners, which will continue to serve as the basis for thousands of lawsuits (both RICO and otherwise) to come. While we know that BofA's Reps & Warrantees reserve is woefully underfunded (with everyone and their grandmother now seeking to putback RMBS to BofA, anything less than 'infinity' is underfunded), we hope Bank of America has set up a sufficiently large legal expenses reserve. It will need it.


1. 'Just Sign The Documents'

"Do you know specifically what you're authorized to do for MERS?"
"Just sign the documents."
"Do you know specifically what you're authorized to do for City Residential Lending?"
"Just sign the documents."


"Why did you sign this document indicating that your address was in California if that in fact was not your address?"
"Because my name was on the document."
"So it was presented to you to sign and you signed it."


2. A Vice President At More Than 20 Companies

"In addition to notarizing assignments of mortgage, do you ever sign assignments as a vice president of a company?"
"For which companies have you signed as vice president?"
"I couldn't list all."
"Could you give me some examples?"
"Chase Morgan. Wells Fargo. I'm on pretty much every corporate resolution."
"Would it be accurate to say that there are maybe an excess of 20 companies or banks that you sign as vice president?"
"That would be fair to say."


3. "Just Look For My Name, And Then Sign"

"Do you have any understanding as to what that term means, 'for good and valuable consideration'?"
"I don't usually read the docs when I sign."
"So it's not part of your job to review the document. Your job is just to sign it."
"Just look for my name, and then sign."


4. No Experience Necessary

"What did you study [in the one year of college]?"
"Nothin'. It was just the basic."
"General courses?"
"Do you have any other additional training or education in banking or finance?"
"Real estate?"



5. Signing 5,000 Documents Per Day At Less Than A Minute Each

"Can you tell me on any given day how many assignments or other documents you sign?"
"Are you looking for a ballpark average?"
"Ballpark. I certainly don't expect you to remember exactly."
"I'd say 5,000."
"Would that be an average day for you?"
"That would be average."
"Would it be fair to say that during your tenure at NTC you've probably signed an excess of 50 or 60 thousand documents?"
"Could be higher than that?"
"With signing so many on any given day, can you estimate for me the amount of time you spend on any given document?"
"Less than a minute."
"When you're presented with a document to sign or notarize, do you take
any steps to verify any of the information contained in the document?"
"Not in the body."
"When you say 'not in the body' are there any other steps that you take?"
"I'm just looking to make sure it's been fully signed."
"Would it be accurate to say that you are presented with a stack of
documents to sign, and your practice is to look at the document, see if
it's been signed, affix your signature to it and then move on to the
next document?"



6. A Disturbing Lack Of Experience

"When you say 'financial' are you referring to matters relating to banking?"
"No. We don't do mortgages in my country. ... I don't have any idea about mortgages when I started here."



7. A Strange Definition Of A Mortgage

"Did you take any steps to verify any of the information contained in this assignment before you signed it?"
"Do you ever take any steps to verify any of the information in the documents you sign at NTC?"


"What is your understanding of what exactly is a mortgage?"
"When somebody goes to buy a house, they take a loan. And then the mortgage is their paying the banks bank."
"Can you tell me what your understanding is of the term 'promissory note'?"
"That's just the note. Like it says the interest rate and stuff like that on it."



8. Management May Have Electronically Signed Documents For One Employee

"Do you play any role in the creation of the documents to which your signature is electronically affixed?"
"No role."
"Do you have any idea what documents or how many documents your signature has been electronically affixed to?"
"Do you ever review those electronic documents after your signature has been affixed?"
"So would it be accurate to say that entire process takes place outside of your presence and knowledge?"
"That would be fair."


"You play no role in the determination as to whether or not you should
be signing the document physically, or whether your electronic signature
should be inserted?"
"Who makes that decision?"
"That would be someone in management."
"So someone else in management is making a decision as to whether or not
to use your signature to affix it electronically to a document?"
"And you have no role in that process?"



9. Signing More Than 50,000 Documents

"Have you signed assignments or other documents as vice president of any other companies?"
"What companies have you signed as vice president?"
"I don't know."
"You can't recall any?"
"Mm-mm [No]."
"Can you estimate for me the number of different companies that you've signed assignments as vice president?"
"I don't know."
"Can you estimate for me how many assignments or other documents in
total during your tenure at NTC you signed as an officer or a vice
president of a company?"
"I don't know."
"Is it more than 10?"
"More than 500?"
"More than 5,000?"
"More than 20,000?"
"More than 50,000?"
"And out of those 50,000, the only company that you can recall signing
as a vice president or an officer is City Residential Lending?"

Courtesy of Huffington Post

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johngaltfla's picture

But remember what the banksters said:

It's the LENDERS fault that THEY 'had to' commit fraud when foreclosing.

Cursive's picture

And for anyone who did not wade through Matt Taibbi new Rolling Stone piece, please know this:

He interviewed people who contacted the bank to "work out" the loan and were told by the bank to stop making payments.  Problem is, the bank would later use the nonpayments to foreclose, although this is exactly the instructions that bank employees gave the borrower.  Of course, the root of the fraud was the financial engineering of securitized mortgages; it was doomed to fail.

Boba Fiat's picture

Just got my letter from BoA yesterday.... 


They said I do not have legal authority to see "an original copy of the Note," but they sent me instead "a copy of the original Note."  I swear, they think we're stupid.  My closing was with a different bank, who sold the Note to BoA.  I want to know if BoA is the legal owner of the Note, because, if not, I'm paying them a lot of money for nothing.  The original closing bank already got paid by BoA.  But do I have to pay BoA?  Not if they broke the law. 


Failure to execute duties legally on your part does not constitute a conditionless debt on my part.

johngaltfla's picture

Certified letter, return receipt. Make it a final demand letter and threaten to turn this over to your state's AG and contact the FDIC for potential action for fraud.

Bet you get a response.

Boba Fiat's picture

I did the "Where's my Note" website form letter thing.  I'm sure they have 1,000 lawyers on this and this is their standard response.  And I'm also sure 99.9% of recipients will read the letter and say, "Aw, shucks, I don't have 'legal authority' to see my own mortgage note."  So they send you your original closing documents, but not the documents that show transfer of the Note from Bank X to BoA.  Fishy.  Any lawyers around here?  Anyone starting a class action suit?  I never signed a contract with BoA, only with Weststar (the original note holder).

johngaltfla's picture

I'm fairly certain, depending on what state you live in, that any note which you have a financial obligation to service, you have the legal right for a notarized copy of the original.

Of course that was before the United States pissed on the 4th Amendment and said contract law isn't really reflective of private property rights, so you're just going to have to accept the new system where selective application of the law is a power for only those that can afford it.

66Sexy's picture

red handed. good job ZH.

PlausibleDenial's picture

Checck out which has some good info centering on the UCC statutes.

Paul Bogdanich's picture

The people at this organization from the level of any college educated manager on up should be charged with fraud andbanned from the business.  The executives and senior managers should be in a jail cell somewhere.  Just outrageous. 

Clinteastwood's picture

Even (and especially) if you don't have a note with BAC or C or ??, you should write a letter demanding an original copy of your note; in fact, everyone in the United States should write a letter to any bailed-out, extend-and-pretend bank demanding an original copy of your note............even if you rent........even if you're an illegal alien.

What_Me_Worry's picture

"When you say 'financial' are you referring to matters relating to banking?"
"No. We don't do mortgages in my country. ... I don't have any idea about mortgages when I started here."


Well played, BAC.


Hidetora's picture

Wait for it...wait for it...'cause daddy's gettin' a free house...

MeTarzanUjane's picture

Hold your breath till daddy gets his free house and see what happens.

While you're waiting you can get tuned into some of the latest thoughts on string theory:

Wait for it daddy, don't let that breath out, hold it...

xenophobe51's picture

That Crystal Moore chick looks like some kind of stretched-out Mona Lisa.

tip e. canoe's picture

i was thinking the exact same thing...MERSa Lisa.

turds in the punchbowl's picture

wow eerily so - and the background too. paging dr. banzai... 

cowdiddly's picture

I did'nt know Twinkies were around in in Leonardo's time.

Careless Whisper's picture


that comment was hilarious, but i saw the vid and i kinda like her, so maybe we shouldn't go ther.

but this is gettin creepy:

maybe she needs to get an agent's picture

i thought she looked like me in my young ages, with more fat on my face. i swear. you guys are hilarious. but this shit makes me depressed. good thing i got my bro's, to lighten up this room.

pure remorse.

Bananamerican's picture

a supersized amerikan mona lisa, with a penchant for snarfling invisible insects from her upper lip...she is our masterpiece

Oh regional Indian's picture

That is an awfully sad indictment of Amerika.

Such possibilities! I'd come there with such shining eyes...year after year the mask slipped.

Then .Crash, 9/11, Afghanistan, Iraq, Iran, Pakistan....

Not in my name sure failed, eh?


RECISION's picture

she is our masterpiece

many a true word...

LOL, if you didn't laugh, you would be crying...

Problem Is's picture

"That Crystal Moore chick looks like some kind of stretched-out Mona Lisa."

LOL. Yeah, but Dhurata is showing some cleavage so the attorneys go easy on her:

Dhurata: "We don't do mortgages in my country."

Attorney David Alan Grier: "Nice breasteses... So what do you do in your country?"

Xedus129's picture

This is just FUBAR.

kaiten's picture

Interesting, and I thought that Mess-o-potamia was located in the Middle East.

JonNadler's picture

Doko is hot!

Robo my sister, can you find a good picture of her and blow it up for our viewing enjoyment--you're good at that

Orly's picture

Why are you stealing avatars, asshole?

The Rock's picture

I agree with you, Orly. Stealing other people's avatar should not be tolerated.

tmosley's picture

He's just trolling a troll.

He is not honestly impersonating Robo, any more than the Hulk impersonates Johnny Bravo on occasion.

Orly's picture

Answer me that, dickweed.

What? Cat got your tongue? other word...

Fuck you.

Orly's picture

Talking to you, loser.


JonNadler's picture

you're very tough on the internet aren't you? Why don't you come to Kitco's office on Monday and come and see me in person

JonNadler's picture

Orly, what do you think of gold?

Orly's picture

You can take your barbarous relic and stick it where the sun don't shine so you assholes can sink together.

How about I meet you in Dealey Plaza on the 22nd so I can kick your ass in front of God and everybody?

You're not even pathetic.

You're a fucking liar.

JonNadler's picture

Well, well, well

I am liar? Yes am a liar, am Jon Nadler after all, at least when it comes to gold am a lier.

And why do you take such strong offense my dear?

Thinking of getting me thrown out? This ain't Marketwatch bitch!

Orly's picture

Bitch, is it?

Okay.  Maybe this ain't MarketWatch but let's see how fast your shit gets shut down without someone as arbitrare taking sides.  How about we just see how many very knowledgable people even answer for you the time of day?

My call is to black-ball the asshole called JonNadler.

Who's with me?

msjimmied's picture

ME! This is ridiculous juvenile shit that needs to stop. I am having a great time reading the responses till I get to this shit head. Regardless of what a lot of people think of Robo, he/she has been here since the dawn of ZH. That alone counts for a lot. This jenny come lately cunt has got to go.

Sorry for the unladylike language.


The Rock's picture

Look again, that is not Robo.

Spalding_Smailes's picture

Orly your 99% in the green. Your in the top 5 for providing insight on ZH but.......... But, this is the fight club & the rules are the rules.

Maybe hes an ass, but hes with us now.

What if you guys met up and you didn't fight , what if you liked him had 8 black & tans and then bingo,bango,bongo ........ Party time !!!

Orly's picture

Okay, wrong.

He just stole my avatar and attached to it someone named Hulk.  Just proves that you can goad an Indi/Paki into just about anything by talking about his sexuality.  Fucking pussy.

It has been taken care of, I hope, by .  If you see any other avatars being stolen, please inform ZeroHedge.

Seriously, do I care about my photo or RobotTrader's avatar?  Not really.  What I care about is the possibility of some nefarious stuff going on underground and behind the scenes.  ZeroHedge should at least be made aware that someone is using the site for something other than they intended.

No one is "with me" if they steal, even if they think it is "funny," or "just a joke."  Thou shalt not steal is the only commandment ever given from God and I won't stand for some "ass" doing it right in front of my face.

It is not funny.  It is serious.

"bingo, bango, bongo..?"  Boy.

Sounds like you can fuck off, too, Smailes.

Spalding_Smailes's picture

"bingo, bango, bongo..?"  Boy.

Sounds like you can fuck off, too, Smailes.


Waaaaaaaaaaaaaait. I was joking, come on don't black list me, pleeeeeeeeeeeeeease. I'm sorry.

You are pissed.

He just stole my avatar and attached to it someone named Hulk.

What ?

I just came in late didn't read the running battle ... I was just throwing gas on the fire/ joking.


I did not junk you ..... What color eyes do you have ?