Special report: Banks continue robo-signing

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Lawmakers and enforcement agencies called for hearings and further investigation Tuesday after learning that the illegal practice known as robo-signing has continued in the mortgage industry.The Associated Press reported on Monday that county officials in at least three states-Massachusetts North Carolina and Michigan-say they have received thousands of mortgage documents with questionable.

County officials in three states tell The Associated Press that an illegal practice known as "robo-signing" continues in the mortgage industry — months after banks and mortgage companies promised.

Robo-Signing Foreclosure Scandal Could Threaten Financial Stability, government watchdog warns. fact that loan servicers cannot demonstrate the facts required to conduct a lawful foreclosure," the panel said in its report. "In essence, banks may be unable to prove that they own the mortgage.

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In sum, this special report essentially explains why we are so bearish on the stock market. It is due to all these avenues we pursued as a country to stem the decline in assets caused by the bursting of the Dot Com bubble. This left the country with enormous debt which will have to be deleveraged over the next few years.

Technology ReportSpecial report: Banks continue robo-signing. Scot J. Paltrow. for the banks and servicers named in this article said that they halted any wrongdoing after disclosures last autumn of robo.