Tam Doan, Robo-Signer For Bank Of America: 'I Had No Idea What I Was Signing'

CNN Money:

NEW YORK (CNNMoney.com) -- It only took him a second to sign each foreclosure document.

That's how good Tam Doan got at his job in Bank of America's pre-sale foreclosure department in Southern California...

"I had no idea what I was signing," said Doan. "Either you were in or you were out."

Read the whole story: CNN Money

Comments

[ChasG]

03:55 AM on 11/01/2010

I never denied that there were robo-signers. I've heard they were used by B of A, but the whistle-blower from B of A is not providing a picture of a "robo-signing" boiler room full of people committing fraud. A small number of "over-worked employees" have come forward saying they were hired to review and sign off on the existence of certain foreclosure documents (an entry-level clerical job), but their workload was too large to review everything. Even that has been disputed.

A review of the process found some errors, but none that would alter the foreclosure outcomes.

Fraud is a false representation of a matter of fact—whether by words or by conduct, by false or misleading allegations, or by concealment of what should have been disclosed—that deceives and is intended to deceive another so that the individual will act upon it to her or his legal injury.

Fraud requires five elements: (1) false statement of a material fact,(2) knowledge on the part of the defendant that the statement is untrue, (3) intent on the part of the defendant to deceive the alleged victim, (4) justifiable reliance by the alleged victim on the statement, and (5) injury to the alleged victim as a result.

So far, I have seen no evidence, nor even a credible allegation that includes all the necessary elements of fraud.

[cwkimbro]

11:43 PM on 10/30/2010

I wish this article title could be used for all the political ads lately

--Robo-caller: I had no idea what I was actually saying--

[hellboundtrain]

04:52 AM on 10/30/2010

The banks that engaged in this (Was it all of them?) should be put into receivership immediately.
So their was no employee training or previous experience in this serious business required, and these fools just let 'er rip with no knowledge or feelings for the consequences?!

[take-it-back]

04:20 AM on 10/29/2010

if someone took my house by robo-signing, i would return the favor - because fraud is legal now in the USA , right?

look up the directors of MERS (on wikipedia) , and then go to public records and find out where they live. file your own foreclosure, with your own fake notary. take THEIR house.

then find some like minded people, take phil gramms and his wifes houses, dick fuld, head of Citi, WF, BoA, , blankenfeld, mozilo, right on down the line. take my house ? EFFF U , i'll take yours back. suprised it asn't happened yet.

the previous comments were a joke only, go back to sleep Americans

[Aristofaness]

02:24 AM on 10/29/2010

Why not the FED borrow money to borrowers at 0%APR directly? Why we need the banks? Are they partners in using the taxpayers money?

[DannyGlover]

11:50 AM on 10/29/2010

Why on earth would you loan someone money for free?

[Aristofaness]

01:53 AM on 10/30/2010

The FED is doing that with banks

[anastasiabeaverhousen]

09:12 PM on 10/28/2010

If you haven't already abandoned your closest mega-bank for your closest credit union, I have little sympathy.

[mmike1969]

08:37 PM on 10/28/2010

Dang it! I knew I should of went in on this scam! :p

[LindaLogic]

08:32 PM on 10/28/2010

I'll bet you knew what you were signing when you granted the weak, undeserved, unqualified mortgage loan papers in the beginning!!

[phishphan]

07:36 PM on 10/28/2010

"I had no idea what I was signing," said Doan. "Either you were in or you were out."

You should be in jail then. Why isn't the FBI raiding these banks?

[Reno Fickler]

05:14 PM on 10/28/2010

"I had no idea who I was killing," is not much of a defense at a murder trial, so.................!

[NURREDIN]

04:31 PM on 10/28/2010

Doan is typical of BOFA employees that attempt to act ethically and morally. There's no place at BOFA for you if you have morals,ethics and intergrity.You WILL be terminated if you act in the best interests of your customers and not so that management can receive their monthly bonus checks. Working there is just like working for a legalized Mafia.

[reader1]

08:10 PM on 10/28/2010

They are the legalized Mafia!

[DannyGlover]

11:52 AM on 10/29/2010

Monthly bonus checks? You clearly have no idea what you are talking about, and absolutely no firsthand experience. Try again.

[DustinTime]

04:19 PM on 10/28/2010

Nice!

But just remember, kids, it's not crime when a big bank does it--so don't get any funny ideas, slaves.

You just take it. And cover the bank's losses when necessary.

[FR713]

06:02 PM on 10/28/2010

It is in Texas. Judicial foreclosures are used on homestead lines of credit and homestead equity loans. It requires and affidavit. It is a felony.

§ 37.03. AGGRAVATED PERJURY. (a) A person commits an
offense if he commits perjury as defined in Section 37.02, and the
false statement:
(1) is made during or in connection with an official
proceeding; and

(2) is material.

(b) An offense under this section is a felony of the third degree.

§ 37.04. MATERIALITY. (a) A statement is material, regardless of the admissibility of the statement under the rules of evidence, if it could have affected the course or outcome of the
official proceeding.
(b) It is no defense to prosecution under Section 37.03 (Aggravated Perjury) that the declarant mistakenly believed the statement to be immaterial.
(c) Whether a statement is material in a given factual situation is a question of law.

§ 12.34. THIRD DEGREE FELONY PUNISHMENT.

(a) An individual adjudged guilty of a felony of the third degree shall be punished by imprisonment in the institutional division for any term of not more than 10 years or less than 2 years.

(b) In addition to imprisonment, an individual adjudged guilty of a felony of the third degree may be punished by a fine not to exceed $10,000

[DustinTime]

06:08 PM on 10/28/2010

Good.

Let's have some justice then.

[FR713]

06:07 PM on 10/28/2010

Perjury. An affidavit in a Judicial foreclosure in Texas is a Court Record
§ 37.01. DEFINITIONS. In this chapter:
(1) "Court record" means a decree, judgment, order,
subpoena, warrant, minutes, or other document issued by a court congress or a treaty or other international convention to which the United States is a party;
(E) an Indian tribe recognized by the United States; or
(F) any other jurisdiction, territory, or protectorate entitled to full faith and credit in this state under the United States Constitution.
(2) "Governmental record" means:
(A) anything belonging to, received by, or kept
by government for information, including a court record;
(B) anything required by law to be kept by others for information of government; (C) a license, certificate, permit, seal, title, letter of patent, or similar document issued by government, by another state, or by the United States;

If the attorney representing the Mortgage Holder knows about the perjury that could be a problem for the lawyer.

[1Woman4Obama]

04:07 PM on 10/28/2010

So why weren't you out? No one has any moral compass anymore? A whistleblower should have uncovered this from the get-go.

[FR713]

06:08 PM on 10/28/2010

You are absolutely right.

[msjimmied]

04:02 PM on 10/28/2010

The BIG question.

http://www.zerohedge.com/article/we-can-either-have-rational-resolution-foreclosure-crisis-or-we-can-preserve-capital-structu

[wtf-please]

02:38 PM on 10/28/2010

READ! anybody losing their home to this sham economic systematic meltdown.. Put an arms length long term lease in place..

READ! At the start of the recession, reports of renters being blindsided by foreclosure notices were not unusual. The problem prompted President Obama to sign the federal Protecting Tenants at Foreclosure Act in 2009. It requires tenants receive a 90-day notice if they are being evicted due to foreclosure -- and that most existing leases for renters be honored up to the end of their term.

See full article from DailyFinance: http://srp­h.it/d4y61­2

[IndyFem]

04:14 PM on 10/28/2010

wtf...Excellant Suggestion!