Supreme Court Directive
Posted by kevin on February 28, 2011 under Foreclosure Blog | 
Comments are off for this article
In December, 2010, the Chief Justice issued a directive concerning the “robo-signing” issue. Submission were to be made by the major banks and by a court appointed representative for the public at large. The return date of an Order to Show Cause was scheduled for early February. It was put off until March 1 and now is off until March 29, 2011.
There is speculation that the delay has been caused by negotiations between the court appointed advocate and the banks dealing with procedures to be implemented to “insure” that the system is operating within the Rules of Court.
At direct issue is robo-signing. In basic terms, this means that the lenders assigned specific employees to sign documents- usually many documents per day. The employee was not involved in the preparation of the documents and did not know anything about the underlying facts set forth in the documents. Many times, stacks of signed documents were then sent to a notary who would notarize the document for filing or submission to the court. The problem with that is that the document is supposed to be signed in the presence of the notary.
