I agree. The “fraud” seems to be that officers of banks have been signing off on foreclosure documents,without properly reviewing the files.
Right or wrong, this sort of thing is common in all areas of business. Does anyone think the CFO of some Fortune 500 company actually reviews all the checks his signature gets printed on?
In essence, what the robo-signers were saying is “I trust that the the professionals working for me properly checked the documentation I am signing.” Not a wise practice, but not “fraud” in the sense that they are trying to rip anyone off.
Now, the shoddy record keeping may cause huge losses for banks, give a huge break to thousands of deadbeats, and directly or indirectly taint or put a shadow on nearly every home title in the country, but this is NOT a massive effort to seize homes that don’t rightfully belong to the banks.
You are absolutely right. This whole “fraud” and “scandal” hysteria is just ridiculous.