One mortgage mess culprit: Signature mills
Five of the nation's largest lenders reached a $25 billion settlement with the federal government Thursday over fraudulent and abusive lending practices leading up to the financial crisis.
One of those abusive practices was the use of "auto-pens" and signature mills, where workers signed thousands of documents each day paving the way for bank foreclosures. Drawing a small hourly wage, those workers were signing documents as high-level bank executives. Dozens, perhaps hundreds -- including men -- signed off as "Linda Green."
Mortgage paperwork mess: Next housing shock?
Full "60 Minutes" segment
"60 Minutes" investigated these signature mills last year and the "CBS Evening News" took a look back Thursday:
