SC Foreclosure Defense Attorney: Undated, Unnotarized Stamps "Magically Appear When A Foreclosure Plaintiff Needs To Prove Chain Of Title In A Case"

In Columbia, South Carolina, The Washington Post reports:

• A South Carolina attorney is alleging more wrongdoing against homeowners facing foreclosure by Ally Financial's GMAC mortgage unit. In a letter to a state trial court, Robert Rikard accused Judy Faber, a woman who identified herself as a GMAC vice president, of having "fabricated and changed the title in thousands of foreclosure cases."

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• Faber, who is not named as a defendant in the South Carolina case, was the owner of a stamp that was used to authenticate the transfer of titles. In a deposition in Alabama, she said she was a vice president and director of a residential funding corporation in addition to being a GMAC vice president.

• Whether these stamps were used legally is critical in foreclosure cases. To foreclose on a house, a lender needs to not only prove that the homeowner is in default but that the company owns the mortgage.

• In case after case, "these stamps are all undated and not notarized, and they magically appear when a foreclosure plaintiff needs to prove chain of title in a case," Rikard said in a phone interview.

For the story, see Ally disputes charges that another GMAC employee 'fabricated and changed title' in foreclosure cases.