Investigation Reveals GMAC Forged Mortgage Assignment in Foreclosure
In a a foreclosure investigation by watchdog journalist ProPublica, internal records from GMAC reveal that when GMAC employees realized they didn’t have authority to sign a mortgage assignment, they simply forged one.
In an email from GMAC employee Jeffrey Stephen (who continues to be employed by GMAC), he asks the following question:
The problem is we do not have signing authority—are there any other options?
It turns out, they did have another option: to falsely sign an assignment, almost five years after the mortgage was supposed to have been assigned, on behalf of Ameriquest Mortgage, a company that had ceased to exist for over three years.
The investigation reveals that hundreds of other similar mortgage assignments were processed by GMAC. No criminal charges have been issued.
Original story here.