The lawsuit filed by Guilford County Register Deeds Jeff Thigpen against lenders for robo-signing mortgages has been dismissed:
Thigpen said robo-signing let mortgage industry employees sign assumed names to financial documents.
That makes it hard to trace land titles, he said. Banks failed to keep proper paperwork on loans as they were traded and bundled as securities, Thigpen said.
“We’ll be talking to our attorneys and looking at what options we have in the days ahead,” Thigpen said Wednesday.
The complaint alleged that banks injured Guilford County citizens by creating legal uncertainty with titles; making it difficult to find and correct title irregularities; committing illegal foreclosures; decreasing real estate values; and decreasing the public’s ability to buy and sell property.
Thigpen alleged that defendants filed numerous fraudulent documents with the Register of Deeds releasing debts.
Judge John R. Jolly Jr. said said the county can’t sue on behalf of landowners.
Thigpen’s lawsuit attracted national attention.
