Say evidence of 'robo-signers' exists in county deeds of trust
The good news is that
foreclosures are way down, but the bad news according to the Monterey County
Civil Grand Jury is that fraudulent land records in the form of 'title transfers'
and 'deeds of trust' remain in the county recorders office.
This latest report noted that
there is no system in place at the county level to ensure that records are
legally signed. And they believe there are deeds and other county documents
that have noted 'robo-signers' and other forms of fraud on them.
In their investigation the
grand jury says, "Preliminary investigation of selected documents indicate
that 'robo-signing' and other forms of fraud are still issues in Monterey
County that should be addressed to ensure the accuracy and reliability of
County land records. There are currently no systems in place at the County
level to determine the validity of title transfers as authorized by legally
recognized signatures."
The report went on to say,
"An audit of County land recordings by a real estate fraud expert would
determine the extent of the problem in Monterey County."
The grand jury recommends that
the Monterey County District Attorney’s Office use its Real Estate Fraud
Prosecution Trust Fund budget to immediately consult with a Certified Mortgage
Fraud and Forensic Document Analyst to begin a land records audit.
As the audit continues they
suggest the DA's office, in cooperation with the Monterey County Recorder’s
Office, immediately create a current list of known 'robo-signers.' Additionally
they recommend the Recorder’s Office and the D.A. work together to identify
means to catch fraudulent 'robo-signed' documents early and report those for
prosecution.
June 25, 2015
KION
By John
K. Brent, Anchor
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