Ally CEO: Firm ‘Screwed Up’ Using Foreclosure Robosigners

Wednesday, 03 Nov 2010 11:25 AM

 

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Ally Financial Inc., the auto and home lender, said the company was “embarrassed” that it used so-called robosigners to fill out foreclosure documents.

“We screwed up,” Chief Executive Officer Michael Carpenter said today during a conference call on third-quarter earnings. “We had a robosigner affidavit problem. No question about it. We’re embarrassed about it and we fixed it going forward.”

Any errors will be corrected and the company is “confident that we did not foreclose on anybody inappropriately,” Carpenter said. “It’s up to us to prove that.”

“We’ll be the first to say we screwed up on robosigner affidavits, but we’re not going to say we screwed up on foreclosures,” said Carpenter, whose company is based in Detroit.

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