First, let me just air my biases so you know where I am coming from: Banks only want to screw you out of your money. They aren't there to help YOU anymore than farmers raise sheep because they want a lot of cute pets. They are for fleecing and for consumption.
There... now you know.
On with the show.
Banks ‘hired hair stylists’ to vet foreclosures
No...sorry.... not snark.
Not making it up.
In an effort to rush through thousands of home foreclosures since 2007, financial institutions and their mortgage servicing departments hired hair stylists, Walmart floor workers and people who had worked on assembly lines and installed them in "foreclosure expert" jobs with no formal training, a Florida lawyer says.
In depositions released Tuesday, many of those workers testified that they barely knew what a mortgage was. Some couldn't define the word "affidavit." Others didn't know what a complaint was, or even what was meant by personal property. Most troubling, several said they knew they were lying when they signed the foreclosure affidavits and that they agreed with the defense lawyers' accusations about document fraud.
Somehow, I am not surprised. The banks want the homes to hoard until property values return, several years from now.
So they hired ignorant people to do difficult, tedious work that demands significant training.
EDIT: That was poorly worded, wasn't it? I should have said "people unaware of the complexities" - Doc
We know they did it to save money and steal homes, but what about non-competent people was so alluring to the banks?
"The mortgage servicers hired people who would never question authority," said Peter Ticktin, a Deerfield Beach, Fla., lawyer who is defending 3,000 homeowners in foreclosure cases. As part of his work, Ticktin gathered 150 depositions from bank employees who say they signed foreclosure affidavits without reviewing the documents or ever laying eyes on them — earning them the name "robo-signers."
They specifically wanted people who didn't know what they were doing and who were desperate for jobs that don't exist.
More clarification, though you should not be surprised:
"This was an industrywide scheme designed to defraud homeowners," Ticktin said.
Currently, there is a bobswern diary on who's going to be be paying the foreclosure bill and this story is just a sort of footnote to that. I posted this because I like to poiint out how goddamned ugly these banking fuckers are.
They are out to steal from you anything they can.
They want to fuck you coming, going, and running.
They aren't about to lift a finger to help commoners because, like ranchers and sheep, we aren't their cute pets. We're their product, their source of wool, and we are for consumption.
It's very, very clear.