Sep 07, 2011
Goldman Sachs agrees to stop illegal robo-signing
07 Sep 2011
Posted by Andrew Kantor
As part of a settlement with a the New York Department of Financial Services and Banking, Goldman Sachs has agreed to stop robo-signing mortgage paperwork.
As part of the deal, the Goldman subsidiary said it will stop the practice of robo-signing mortgage paperwork. Robo-signing came to light last fall when it was revealed that the largest banks had outsourced mortgage paperwork to processing companies that, in turn, hired unqualified people to sign thousands of mortgage affidavits without reviewing loan documents. The practice is illegal.