I feel compelled to discuss a few things here. Normally I do not editorialize too much but I’m breaking my rule. Three things:
- Lies about who you are, who you represent, that entity’s interest, lack of personal knowledge, whether a note has already been satisfied, and trumping up fake assignments of a deed of trust years after the note was allegedly transferred in securitization aren’t just “procedural paperwork errors.”
- Why in the hell do judicial foreclosure states (no offense to judicial foreclosure states; they need help too, obviously, with the rocket docket syndrome) need more protection than non-judicial? In non-judicial states, the fraud occurs outside the gaze of a courtroom in the majority of cases, not that the gaze of a courtroom is much protection in Arizona.
- Where is the Arizona Attorney General? Too busy running for governor?
For more than a year, my colleagues and I have been arguing about the fraud that these foreclosure mills, servicers, and investment banks have been perpetrating. We have pled it and pled it and pled it, only to be removed to federal court by the masses of bank attorneys that converge on these cases like locusts. Do you think we might get some discovery? No, these feds are dismissing on the pleadings, betting that most homeowners cannot afford to appeal to the 9th. These cases lay out massive substantive problems in the timelines, the authority of signatories to trumped up assignments, fraud in the recording of these documents, lack of personal knowledge, ad nauseum. These are serious problems, folks. Bad law is being made, with huge changes to hundreds of years of black letter property law, commercial law, and just basic rules of procedure and evidence. When I saw that GMAC claimed these are just “paperwork errors” that will be cleared up soon, I laughed until my side hurt. Except that it is really not funny, especially to the families being kicked out of their homes by strangers to their contracts, strangers that are not owed a dime.
Secondly, this one to the judiciary, non-judicial foreclosure statutes (passed by the Legislature in the 70’s and promoted as consumer friendly)are not a license for intermediaries to steal houses or to spoil evidence, or commit fraud on the court.
Finally, why is easier to steal a house than to repossess or steal a car? Just stick another nail in the coffin of the American middle class.
So this is my rant for now. I have work to do. Stay tuned.