Amid New Reports of Continued Robo-Signing, Brown Calls for End to Risky Practices Undermining Housing Market
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Amid New Reports of Continued Robo-Signing, Brown Calls for End to Risky Practices Undermining Housing Market

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WASHINGTON, D.C. – July 21, 2011 – (RealEstateRama) — In the wake of reports that banks and mortgage processors have continued forging signatures and submitting false affidavits, U.S. Sen. Sherrod Brown (D-OH) wrote to federal regulators urging them to better protect consumers by publicly releasing information related to their settlements with 14 mortgage servicers in order to prevent further illegal practices. Also known as robo-signing, this unlawful act has forced thousands of homeowners into foreclosure and raised doubts about the ownership of hundreds of thousands of mortgages. Brown is chairman of the Senate Banking Subcommittee on Financial Institutions and Consumer Protection.

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