Professor Peterson has written many important articles including Predatory Structured Finance and the still developing The Two Faces of MERS. This is his full post on the foreclosure documentation scandal and the role of MERS, and here is an excerpt: “This is, of course, not to say that the MERS folks cannot win on this question. […]
Yves Smith at Naked Capitalism nails it again, full post here: Even though more and more accounts like these are being reported daily, the denial in the industry remains high. I spoke to one expert who believes that the big white shoe law firms themselves do not understand how badly their clients failed to perform […]
It should not be such a big deal for a consumer’s case to survive dismissal but in Arizona federal district court, it is. This is as rare as a purple unicorn, a shining example of accurate application of basic law in federal district court in an Arizona homeowner case. Judge Sedwick allowed a plaintiff to […]
Decision in In re Fawn Ridge here.
With quotes like this, what’s not to love? News Releases Cordray: Refiling Affidavits is an Insult to the Justice System 10/28/2010 (COLUMBUS, Ohio) — In response to Wells Fargo’s statement acknowledging that it “made mistakes” and that affidavits in 55,000 foreclosures filed by the bank did not “adhere” to the law, Ohio Attorney General Richard […]
I liked this article by RJ Eskow (emphasis added): “Here’s the complete sentence from the Times article: “Even if the paperwork was faulty, the fact remains that most homeowners in foreclosure have not paid their bills, often because they bought more house than they could afford or because they lost their jobs. As a result, […]
I have been citing Professor Porter’s U. Tex L. Rev. article, Mistake and Misbehavior since I started advocating these cases, so I was interested to see Professor Porter speak. An excerpt: “The major unanswered question at this time is the extent and severity of any foreclosure deficiencies. Despite the proclamation of James […]
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Julia Gordon with the Center for Responsible Lending stated: HAMP would have been much more successful if the government had implemented othermeasures, such as changes to the bankruptcy code, to provide a “stick” to complement the HAMP “carrot” and to give homeowners an alternative to relying on servicers who act in their own interest first. […]
From Ted Kaufman’s opening statement: “If these reports reflect a disregard on the part of banks for the legal requirements of foreclosure, that alone would be unconscionable. Yet it is conceivable that the problem is even worse: that banks have failed to follow the legal steps necessary to ensure clear title. If investors lose confidence […]