SederLaw
WORCESTER 508-471-3018
Metro West 508-709-0024

Mortgage documents questioned after robo-signing CEO pleads guilty

Proper documentation is the cornerstone of real estate law. A purchase or sale dispute will often arise if improper or invalid documentation is filed, and court actions that bring the validity of documents into question can have far-reaching consequences. Readers in Worcester, Massachusetts, may have heard about how a guilty plea by the founder of DocX could affect foreclosure documents in the state. Anyone looking to address a real estate dispute should strive to understand about the importance of document validity and how the plea may affect the standing of the property in question.

The CEO and founder of DocX, a "robo-signing" company that created and signed mortgage transfer documents for large banks, pleaded guilty to a charge of conspiracy to commit mail and wire fraud late last year. The plea deal enables the court to force payment of restitution to fraud victims.

The register of deeds for the Southern District of Essex County, Massachusetts, has requested $1.3 million to help it sort and replace mortgage documents that have come into question due to the guilty plea. The district has identified 10,567 documents filed by DocX that may not be valid. These documents involve the sale or transfer of existing mortgages as well as other real estate transactions.

People around the country were negatively affected by banks employing "robo-signing" tactics to quickly process foreclosures and mortgage transfers. It is good that Essex County is doing something about it.

Source: The Salem News, "Southern register seeks $1.3M restitution," Douglas Moser, Jan. 21, 2013

No Comments

Leave a comment
Comment Information
Email Our Team

Contact Us Today To Learn More

The skilled attorneys at SederLaw stand ready to handle even your most difficult legal issues. Turn to us for skilled representation to help you accomplish your legal goals.

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

An Impressive Track Record
Of Achievement In The Law

SederLaw

Worcester Office
339 Main Street
Suite 300
Burnside Building
Worcester, MA 01608

Phone: 508-709-0024
Phone: 508-471-3018
Fax: 508-831-0955
Map & Directions

Metro West Office
1900 West Park Drive
Suite 280
Westborough, MA 01581

Phone: 508-471-3018
Fax: 508-831-0955
Map & Directions