Tuesday, October 12, 2010

Were Obama's own mortgage documents signed by a 'robo-signer'?


To display the level of corruption built into the financial system, President Obama's own mortgage loan documents were probably fraudulent.

A consumer advocacy Web site has obtained some mortgage paperwork for President Obama and first lady Michelle Obama's home in Chicago.

The documents, which show that the couple's mortgage of $210,000 was fully paid on May 10, 2005, are signed by a Chase Home Finance vice president Marshe Craine.

The interesting thing about the documents is that Craine's signature on court documents related to other people's homes looks radically different from the version on the Obamas' paperwork. In other, unrelated cases, attorneys for homeowners have accused loan processing companies of allowing employees to forge other people's signatures.

Craine has also signed documents on behalf of Mortgage Electronic Registration Systems Inc. -- the Reston, Va.,-based company that was set up by the financial industry to help track securitized mortgages and that is being targeted in foreclosure lawsuits around the country.

A Chase spokesman declined to comment.

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