Investopedia

Continue to Site »

Robo-Signer

Filed Under » , , , ,
Dictionary Says

Definition of 'Robo-Signer'

An employee of a mortgage servicing company that signs foreclosure documents without reviewing them. Rather than actually reviewing the individual details of each case, robo-signers assume the paperwork to be correct and sign it automatically, like robots.
Investopedia Says

Investopedia explains 'Robo-Signer'

In the third and fourth quarters of 2010, a robo-signing scandal emerged in the United States involving GMAC Mortgage and a number of major U.S banks. Banks had to halt thousands of foreclosures in numerous states when it became known that the paperwork was illegitimate because the signers had not actually reviewed it. While some robo-signers were middle managers, others were temporary workers with virtually no understanding of the work they were doing.

Articles Of Interest

  1.

    Homeowners, Beware These Scams!

    If you're in a pinch for money, you're the prime target for con artists and thieves.

  2. Short Sell Your Home To Avoid Foreclosure

    Are you in danger of losing your home? Protect your credit score with a real estate short sale.

  3. Avoiding Foreclosure Scams

    If you want to save your home, avoid bogus offers and take matters into your own hands.

  4. The Pitfalls Of Buying A Foreclosure House

    Find out if the house you're eyeing is really a good deal.

  5. Avoid Foreclosure: How To Handle An Underwater Mortgage

    Foreclosure is the biggest fear of any struggling homeowner. These tips just might save your credit rating.

  6. Foreclosure Opens Doors For Real Estate Investors

    Learn how to spot hot properties that you can turn around for a profit.

  7. Saving Your Home From Foreclosure

    Learn the tactics you can use to prevent your home from being repossessed.

  8. 6 Tips For Selling Your Home Fast

    Find out what you can do to stand out from the competition and make your home an easy sell.

  9. Lessons Learned From the Banking Crisis

    There are lessons to be learned on how to handle severe financial downturns, and while the Fed is learning, politicians may not be.

  10. 5 Smart Ways To Use Your Tax Return

    This year, find out how to stretch your tax refund further to strengthen your future.
comments powered by Disqus
Marketplace
Hot Definitions

  1. Glocalization

    A combination of the words "globalization" and "localization" used to describe a product or service that is developed and distributed globally, but is also fashioned to accommodate the user or consumer in a local market.

  2. Disaster Loss

    A special type of tax-deductible loss, similar to a casualty loss, where a loss has been incurred by taxpayers who reside in an area that has been designated as a federal disaster area by the President.

  3. Fool In The Shower

    The notion that changes or policies designed to alter the course of the economy should be done slowly, rather than all at once.

  4. Pattern Day Trader

    An SEC designation for traders who trade the same security four or more times per day (buys and sells) over a five-day period, and for whom same-day trades make up at least 6% of their activity for that period.

  5. Cost-Push Inflation

    A phenomenon in which the general price levels rise (inflation) due to increases in the cost of wages and raw materials.

  6. Happiness Economics

    The formal academic study of the relationship between individual satisfaction and economic issues, such as employment and wealth.
Trading Center
Array ( )
taggroups(for debug only):
Array ( [0] => Markets [1] => Active Trading [2] => SEG (Investors) [3] => Economy And Economics [4] => Investing [6] => Home Ownership [7] => Home Ownership Family [8] => SEG (Real Estate Shoppers) [9] => SEG (Real Estate Shoppers:Loan-Mortgage) [10] => Credit & Loans [11] => What's New [14] => Health And Home [15] => Personal Finance ) time:9ms