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Bank of America Halts Foreclosures After Perjury Exposure: Are Wells Fargo And OneWest/IndyMacNext?

Bank of America logo

by Mike on October 4, 2010

Bank of America official admits perjury

Bank of America is the latest major bank to halt foreclosures after it was exposed as having submitted false affidavits just like GMAC and JP Morgan Chase banks.

Ariana Cha of the Washington Post reports:

A Bank of America official said in a February deposition in Massachusetts that she signed as many as 8,000 foreclosure documents a month without reviewing them. The deposition is similar to those given by document processors at J.P. Morgan Chase and Ally Financial.

That’s perjury. When you sign an affidavit, you swear under oath that you know what’s in that affidavit is true. How are you supposed to do that if you haven’t even read the thing?

Wells Fargo and OneWest/IndyMac may be next

Officials of two other major banks have admitted, under oath, that they signed affidavits without reading them or giving them just a cursory review: Wells Fargo and OneWest (formerly IndyMac).

As for Wells Fargo:

A Wells Fargo executive has acknowledged that he verified only the dates on up to 150 foreclosure documents he signed daily… The executive made his admission in a May deposition involving a Washington state homeowner.

The deposition of the Fort-Mill, S.C.-based Wells Fargo vice president, Herman John Kennerty, was reported over the weekend by AOL Daily Finance and obtained by The Associated Press. Efforts to reach Kennerty were unsuccessful.

Kennerty is a robo-signer well-known to foreclosure defense lawyers.

And OneWest isn’t far behind, if you read the testimony of the infamous Erica Johnson-Seck:

Erica Johnson-Seck, an employee of OneWest Bank, estimated in a deposition taken by Ice Legal that she signs about 750 foreclosure-related documents a week. A team of eight people at OneWest sign about 6,000 a week, she said.

Johnson-Seck said she spends about 30 seconds on each document, according to the deposition.

I would not be at all surprised if both banks had pulled the plug on any foreclosure involving these two characters within the week.

Want to know more? Contact us at Ricardo & Wasylik, PL.

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