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Mon Jan 23, 2012, 12:40 AM

In the news about Robo-signing lawsuits.

Perhaps this can shed SOME light on the timing of the reported deal that the Obama admin may be negotiating with banks..

Massachusetts AG files first 'robo-signing' lawsuit (Dec. 7, 2011)


Lawyer seeks class status for robo-signing lawsuit (Dec. 22, 2011)

10,000 GMAC Foreclosures Stopped in Maryland

In a major ruling Friday, a coalition of nonprofit defense lawyers and consumer protection advocates in Maryland successfully got over 10,000 foreclosure cases managed by GMAC Mortgage tossed out, because affidavits in the cases were signed by Jeffrey Stephan, the infamous GMAC “robo-signer” who attested to the authenticity of foreclosure documents without any knowledge about them, as well as signing other false statements.

The University of Maryland Consumer Protection Clinic and Civil Justice, Inc., a nonprofit, filed the class action lawsuit, arguing that any case using Jeffrey Stephan as a signer was illegitimate and must be dismissed. In court Friday, GMAC agreed to dismiss every case in Maryland relying on a Stephan affidavit. They can refile foreclosure actions on the close to 10,000 homes, but only at their own expense, and subject to new Maryland regulations which require mandatory mediation between borrower and lender before moving to foreclosure. Civil Justice and the Consumer Protection Clinic also want any cases with affidavits from Xee Moua of Wells Fargo, who has also admitted to robo-signing, thrown out, but that case has not yet been settled.

Jamie Dimon and his banker buddies may be saying in public that they aren’t worried about the consequences from future foreclosure fraud cases and repurchases, but in private, they must be going nuts over this.


Ally's GMAC Unit Drops 250 Maryland Foreclosures Tied to Faulty Affidavits
GMAC’s decision comes after a Maryland nonprofit, Civil Justice Inc., agreed to drop a class-action lawsuit on behalf of homeowners whose foreclosure documents were signed by GMAC employee Jeffrey Stephan, Anthony DePastina, an attorney for Civil Justice, said in a phone interview. Stephan said in sworn depositions last year and in 2009 that he signed as many as 10,000 affidavits a month without checking their accuracy in a practice that has come to be known as “robo-signing.”
“Hopefully GMAC’s actions will set a precedent with other lenders where robo-signing has occurred,” DePastina said. “I think there will be a ripple effect throughout the country.”
DePastina said as many as 1,000 foreclosures may be tied to defective affidavits.

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Reply In the news about Robo-signing lawsuits. (Original post)
Bonobo Jan 2012 OP
Ecumenist Jan 2012 #1

Response to Bonobo (Original post)

Mon Jan 23, 2012, 03:27 AM

1. Do you know is this applies to state other than Maryland?

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