BofA Robo-Signer: "We Were Signing Documents Right And Left" But "I Had No Idea What I Was Signing"

robo signer

Former BofA employee Tam Doan told CNNMoney he spent so many hours endorsing foreclosure documents that his signature transformed into four overlapping circles.

“I had no idea what I was signing,” Doan told CNN, “either you were in or you were out.”

Doan, who worked in one of BofA’s pre-sale foreclosure departments – a unit in Southern California responsible for getting delinquent loans ready for foreclosure sale – was laid off in September.

He said that compared to previous employers, foreclosure administration at Bank of America was “chaotic and stressful” and that he barely had time to read the documents he was signing. He alleges there were too few employees to handle the work, and that those employees received scant training.

From CNN,

In his final weeks on the job, a notary routinely left him stacks of 20-page files, each one with a tab indicating where he needed to sign or initial.

Each signature likely led to a borrower losing his or her home. While he got numb to that fact while he was on the job, he now feels guilty. “I shudder to think how many foreclosure documents have my name on it,” he said.

BofA says that Doan was let go because he failed to follow policy and his story is not symptomatic of everyone who worked on home repos for the bank. They think he’s trying to exploit the press hysteria over foreclosure-gate and the robo-signing scandal.

For the full interview, go to CNNMoney >

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