Was foreclosure process flawed by “robo-signer”? Also, analysis of the Redskins victory over the Eagles

October 4, 2010 - 01:47 PM
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Today we spoke with banking industry analyst Bert Ely about the recent decision of three of the country’s largest banks to suspend foreclosures in the wake of the discovery that a mid-level executive signed-off on foreclosure approvals without actually reading them.

Ely, president of Ely & Company, talked about flaws in the current system of making and re-packaging loans that he’d like to see occur:

Maryland Rep. Elijah Cummings (D) has asked Gov. O’Malley and Attorney General Doug Gansler to order a 60-day freeze on foreclosure activity pending a review of the actions of the so-called robo-signer, who is reported to have approved 10,000 reports a month without reading them.

Also today, we spoke with TBD sports reporter Sam Chamberlain about the Redskins’ big win over Philadelphia Sunday:

 

Tuesday at 10am on NewsTalk: a discussion of the suicide of Rutgers University student Tyler Clementi.

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