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Moneywise

Utahns will receive nearly $10.5 million from National Mortgage Settlement this week

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  • Chris B Salt Lake City, UT
    June 11, 2013 12:35 p.m.

    "In the foreclosure process, rather than reviewing the details of each individual case, these "robo-signers" would assume the paperwork was correct and sign it automatically — regardless of its contents."

    So why do a good job in your journalism and tell us whether the contents were correct or not?

    If 95% of the time this robo-signing thing did the correct thing, then those 95% of homeowners who stopped paying their mortgages have nothing to cry about.

  • RBN Salt Lake City, UT
    June 11, 2013 1:53 p.m.

    Come on, Chris. Do you really think that: 1) the journalists have access to the loan and related documents for every foreclosure?; 2) it's their job to do forensic accounting on each loan, particularly given that the Banks have admitted liability? Really?

    The reason for the AGs' action was that our community ought to be able to rely on a system wherein the protocols promote the trustworthiness of evidence, particularly given the potential property losses include a person's home.

  • Chris B Salt Lake City, UT
    June 11, 2013 2:42 p.m.

    RBN,

    I was suggesting that if information is available relating to this settlement in the first place, its very likely there is additional information the journalist didn't include that relates to how much of the time this robo-signer thing actually was in error.

    The article tries to stress that the robo-signer did its function regardless of whether the forms were right or wrong.

    A key piece of information was left out in the article, telling us how much it did err.

    But really RBN, is that too difficult to understand?

    Really?

    Simple concept really.

  • RBN Salt Lake City, UT
    June 11, 2013 5:04 p.m.

    What you apparently don't understand is that all of the financial info is likely protected by a confidentiality agreement.

    Simplicity is your forte'.

  • Chris B Salt Lake City, UT
    June 12, 2013 9:03 a.m.

    RBN,

    What you clearly do not understand is we have yet to hear whether this robosigner thing made a mistake at all.

    And if a robosigner didn't make a mistake on someone's mortgage information, then that homeowner has nothing to cry about.

    Don't want your home to be foreclosed on?

    Pay your mortgage, as you said you would.

    Again, simple concepts really.

    But some people are having a tough time understanding.

    LOL

  • rogerdpack2 Orem, UT
    June 13, 2013 2:04 p.m.

    it mentions 25 billion and 1.5 billion what is the relationship between the 2 here? (as a note, utahns appear to be receiving 0.7% of the total)