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The Associated Press October 12, 2010, 6:41PM ET

Robo-signers: Mortgage experience not necessary

A Florida lawyer says financial institutions, trying to rush through thousands of home foreclosures, hired hair stylists, Walmart floor workers and former assembly line employees to work as the "foreclosure experts" that have come to be known as robo-signers.

In depositions released Thursday, many of those workers say they barely knew what a mortgage was. Some cannot define the word "affidavit." And somel say they knew they were lying when they signed affidavits allowing foreclosure to move forward.

Lawyer Peter Ticktin of Deerfield Beach, Fla., says he is making the testimony available to state and federal agencies that are investigating allegations of possible mortgage fraud. The testimony is from 150 robo-signers -- so called because some of them signed as many as 10,000 affidavits a month.


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