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“The pure volume of foreclosures has a tendency perhaps to encourage sloppiness, boilerplate paperwork or a lack of thoroughness” by attorneys for banks, said Judge Tepper of Florida, in an interview. The deluge of foreclosures makes the process “fraught with potential for fraud,” she said.
At an unrelated hearing in a separate matter last week, Anthony Rondolino, a state-court judge in St. Petersburg, Fla., said that an affidavit submitted by the David Stern law firm on behalf of GMAC Mortgage LLC in a foreclosure case wasn’t necessarily sufficient to establish that GMAC was the owner of the mortgage.
“I don’t have any confidence that any of the documents the Court’s receiving on these mass foreclosures are valid,” the judge said at the hearing.
A spokesman for GMAC declined to comment and a lawyer at the David Stern firm declined to comment.
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Hi Sara, here’s a better link...
Oh wow! That is the pontential for a bailout in the “wrong” direction! The banksters better grab their “bonuses” fast before the courts put an end to the party! Even though they got their mitts into the Treasury for a bailout; their incompetence might crash the banks anyway. We are so screwed.
Thanks so much for taking the time to give me a better link.