The Virginia Senate voted Thursday to outlaw the use of false documents or “robo-signing” in the foreclosure process.
Questionable foreclosures were recently in the news with the $120 million settlement between the Virginia Attorney General Ken Cuccinelli and Lender Processing Services, Inc. This case hinged on surrogate signing.
Bill sponsor Sen. Chap Petersen said about the vote, “People are losing their homes in Virginia because someone in a warehouse in Florida is falsely signing documents. That’s wrong. No Virginian should lose her home due to a lender’s fraudulent actions. Those who have been targeted by fraudulent foreclosures need appropriate recourse.”
Approved by the Senate, the bill will now go to the Virginia House of Delegates.
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