The Madeleine Brand Show |

Foreclosure Mess: Excruciating, But Must-Watch Video

We've reported on the program about the mysterious organization called MERS, that ended up holding almost 60% of all the home mortgages written in this country.  And we talked about the so-called robo-signers, workers hired by banks and mortgage companies to check the accuracy of information in foreclosure documents.  Some of these workers say they processed as many as 5000 foreclosure packages a day.  Hence, robo-signers.

Here's a disturbing video deposition of one such worker.  She's Crystal Moore, an employee of Nationwide Title Clearing, a firm hired by many banks to process foreclosures.  Pour yourself a glass of your favorite beverage and watch this, while trying to remain patient. You may note, as others have, that the subject has more than a passing resemblance to Mona Lisa.

Just before the five minute mark, Ms. Moore attempts to explain why she signed documents claiming she was a Vice President of City Residential Lending, Inc.  She claims she was authorized to do so by her supervisor, but then admits she knows no one at City Residential, has never spoken to anyone there, has never been to their offices in Rancho Cucamonga, or ever even visited the state of California.

Excruciating, yes.  But fascinating, too.