The article Why All the Robo-Signing? Shedding Light on the Shadow Banking System by Ellen Brown finally provided me with the details about why the Robo-signing is such a big deal. I’ll try to give you a clue as to what is in the article with this teaser.
The robo-signing largely involved assignments of mortgage notes to mortgage servicers or trusts representing the investors who put up the loan money. Assignment was necessary to give the trusts legal title to the loans. But assignment was delayed until it was necessary to foreclose on the homes, when it had to be done through the forgery and fraud of robo-signing. Why had it been delayed? Why did the banks not assign the mortgages to the trusts when and as required by law?
This has nothing to do with signing documents without reading them as the lame stream press has reported. This has everything to do with forgery and back dating of documents to perpetrate a fraud that the lame stream media has not bothered to mention.
Having read Ellen Brown’s articles before, I have learned that she has a thing against fractional reserve banking. I fully expected her to go completely off the rails in this article in her usual way. I was pleasantly surprised to see that she relegated her prejudice to one small paragraph that can be easily ignored. It does not affect the veracity of the rest of the article.