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The Mortgage Fraud Crisis Downstream: Part 1: County Level Issues

October 3, 2010 Leave a comment

ZeroHedge.com has been reporting on the mortgage crisis and how banks such as GMAC, Ally, JPMorgan Chase and Bank of America are halting foreclosures based upon the signing of faulty documents at the county level. The main problem with this is not so much a matter of the people within these organizations being dishonest as much at it is with the workflow processes being inconsistent, both at the county level in which these documents get recorded and with the banks internal workflow processes.

Here are two examples of diverging workflow processes at the county level:

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