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