HUD Recommending Sanctions Against Bank 'Robo' Notaries
The U.S. Department of Housing and Urban Development (HUD) is considering sanctions against Notary employees of at least one of the five banks involved in the $25 billion National Mortgage Settlement and may recommend sanctions against Notaries of the other four banks.
HUD’s Office of Inspector General issued reports last week detailing the “robo-signing” practices of the five mortgage lenders that agreed to the Settlement. One report specifically recommended that HUD’s Enforcement Center “pursue appropriate administrative sanctions against Notaries who may have violated state Notary requirements.”
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