Q: What do you call someone who completes one semester of college, works for six years as a customer service representative for a company that sells window shades, and then shuffles papers for two years in a bank's document execution department?
A: You call her vice president of loan documentation for Wells Fargo Bank, N.A.
Q: What do you call an operations manager at a Florida law firm who does "a little bit of everything. I hire, fire, do some H.R., a little document execution"?
A: You call her vice president of MERS (Mortgage Electronic Registration Systems), even though she doesn't know where the MERS offices are located. You call her vice president of ABN AMRO, a megabank headquartered in the Netherlands. She doesn't collect a paycheck from either company that she's a vice president of.
Both of these women -- Xee Moua of Wells Fargo and Cheryl Samons of the Law Offices of David J. Stern -- testified in depositions that they regularly spent about two hours each work day, signing foreclosure affidavit after foreclosure affidavit. How many? Samons says on a typical day she signed more than 100 and "definitely not more than a million." Moua says she signed 50 to 100 an hour.
These are two of your much-talked-about robosigners. And in their depositions, they acknowledge that they affixed their signatures to statements that were not true or, at best, were truthy. They said they had personal knowledge that the details in the affidavit were true, when they had no such knowledge. They signed off as vice presidents of companies for which they were not executives.
Two weeks ago I said these bits of dishonesty were no big deal. I wrote that the "overwhelming majority of (homeowners in foreclosure) haven't been making their house payments," and that was the important thing.
But maybe it's more important that we insist that people tell the truth in the legal paperwork that results in foreclosure. The depositions show that the bailed-out behemoth banks and their law firms lied habitually to the courts. Who else did they lie to, and about what?