Categorized | Business

Former Bank Employees Admit to Robo-signing

Foreclosure robo-signing in banks

Foreclosure robo-signing in banks

Recent revelations from former bank employees, like Tam Doan, have thrown the American foreclosure system into a state of chaos. Doan has recently come forward in order to give the American public a chance to catch an inside glimpse of what is actually going on with the foreclosure processes at most banks in the country, telling the media that he signed so many papers without knowing exactly what they said, that he called himself a “robo-signer”.

Doan claims that he would often find piles of paperwork on his desk that he was required to sign in order for a foreclosure. He said that there was often not enough time to read through it and that many times he had no idea what exactly he was signing.

After news of the shoddy paperwork processes for foreclosures came to light, Bank of America and JPMorgan Chase have both called a temporary stop to the foreclosures that they have in question in order to go over their standard processes and paperwork that goes along with it. Doan was recently fired from Bank of America after the “robo-signing” came to light, and he approached the media soon afterwards.

Doan says that he feels that he was wrongfully fired, as he was only doing his job under pressure from his superiors. However, he also says that he realizes that every paper he signed could have led to a family losing their home, and that he feels extremely guilty about that. However, he also strongly believes that the banks should be held responsible for the damage that they caused to numerous families across America.

Bank of America has accused Doan of attempting to take advantage of the media storm surrounding the issue, but Doan claims he simply wants people to know the truth.

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