Not that many years ago, it seemed like you heard something about robosigning, foreclosure, and foreclosure fraud in the news all the time. These days, not so much. But it's not because foreclosure isn't a problem or banks aren't foreclosing on homeowners with fraudulent documents anymore.
According to a recent article on theintercept.com by journalist David Dayen “Every day in America, people continue to be kicked out of their homes based on false documents.”
Dayen is promoting his new book called Chain of Title: How Three Ordinary Americans Uncovered Wall Street's Great Foreclosure Fraud, which is about victims of foreclosure who “exposed the mass production of false mortgage documents in courthouses and county records offices across the country.”
It's the latest in a long line of articles from the author telling the stories of homeowners who are being kicked out of their homes with fraudulent documents.
Why Banks Need to Fabricate Documents to Foreclose
During the housing bubble mortgages were bundled together, carved up, and sold to investors (which is called securitization) so carelessly that it became hard to tell who the real owner of a mortgage was.