In reality, Bly works for Nationwide Title Clearing, a Palm Harbor company. And he was recently reprimanded by state regulators after acknowledging in a sworn statement that Nationwide Title had him notarizing so many documents that he scribbled his initial instead of signing his full name as required by law.
Such a pace, critics say, shows that Bly and other so-called “robo signers” can’t possibly be sure that what they’re signing is accurate.
“Our entire system of real estate is founded upon the ability of courts to believe in the documents before them,” says Matthew Weidner, a St. Petersburg lawyer who has a blog on foreclosure issues. “What this (Bly’s statement) describes is assembly-line document production with no concern for the facts in front of them.”
Bly’s name has become well known in the foreclosure defense field since the St. Petersburg Times reported last year that he and Crystal Moore signed thousands of mortgage assignments as officers of Option One and other lenders even though both work for Nationwide Title.
Assignments are key in determining who actually owns a mortgage, an all-important matter as banks foreclose on loans that were bundled into securities and sold to investors. To expedite the processing of mortgage assignments, many banks authorize Bly, Moore and others at Nationwide Title to sign on their behalf.
In a statement Friday to the Times, Nationwide Title said it employs “many people” in various departments “to make sure that each and every document is legal, compliant and complete” when it reaches signers like Bly and Moore.
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