Friday, October 1, 2010

Another reason for all counsel in the title industry to take a deep breath.

Today, the Washington Post reported that Bank of America has suspended foreclosures in 23 states, following the admission of a foreclosure processor that she signed thousands of affidavits without reading them. In deposition testimony given in Massachussetts, the employee admitted to signing over 7,000 items per month. She also admitted to mis-identifying herself as an employee of Bank of New York Mellon.

This puts us all in a delicate position with the Circuit Courts. I routinely proffer affidavits from various bank officers, particularly where I seek default judgment orders. I have always relied upon the bona fides and representations of the client when preparing their affidavits. It now appears necessary to ask for further verification of job title and authority, doesn't it?

Add this to the list, right after "prove to me that you are the true owner of the beneficial interest in the trust before I file suit in your name."