Missouri has become the first state to file criminal charges against a company because of mortgage fraud.
Missouri Attorney General Chris Koster says the company called DOC-X forged the signatures of bank officials on mortgage documents filed in Boone County. The company, based in Atlanta, and its top executive are charged with forgery.
Banks often hire companies like DOC-X to file paperwork for them. Many are accused of using so-called ‘robo-signing’ on all sorts of mortgage documents including foreclosures.
Dozens of apparently robo-signed mortgage documents were found in Boone County alone.
Koster says allegedly forged signatures could mean thousands of mortgage filings across the country are illegal.