All 50 States Working In Concert To Investigate Foreclosure Fraud Allegations.

Oct. 14, 2010 - PRLog -- Spearheaded by Tom Miller, Iowa's Attorney General, the group plans an across-the-board investigation of the now, infamous, robo-signing policies, allegedly implemented by many mortgage servicers. With staffers reportedly signing upwards of 8,000-10,000 poorly reviewed foreclosure documents a month, the hue and cry over improperly submitted foreclosure paperwork is at an all time high. Several companies are being targeted for extensive reviews.

As reported by: http://savemyhousenow.net, per the new coalition, a comprehensive analysis of affidavit review procedures used by a hand-picked group of mortgage servicers, is already well under way. The group's primary mission, is to find proof of improper foreclosure document verification and whether company employees signed affidavits without confirmation of a notary public, as required by law. The results of these initial queries will set the stage for the group's ongoing strategies.

Prompted by court documented revelations indicating staff workers were sharply cutting corners and ignoring strict foreclosure protocols, as well as  the sudden foreclosure moratoriums of four major lenders: GMAC Mortgage, JPMorgan Chase and Bank of America along with one subprime servicer: Litton Loan Servicing,  the probe's immediate goals include putting a quick stop to improper foreclosure processing. Ultimately, the group intends to implement a system that will both call for stricter guidelines as well as allowing the industry to be more rigorously monitored.

According to Miller, “These are starting points, and it’s possible this group may limit, expand or change its objectives. What’s important here is this is a cooperative and coordinated effort by states to address a serious problem. This is not simply about a glitch in paperwork. It’s also about some companies violating the law and many people losing their homes.”

GMAC announced Tuesday that internal audits were already well under way and, that to date, the company “has found no evidence” of unlawful or improper foreclosure processing.

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Save My House Now is a National Publication dedicated to helping homeowners do everything in their power to prevent their homes from being lost to foreclosure.