More on ResCap Ally GMAC Bankruptcy

There has been an inordinate amount of interest in this bankruptcy.  Here are two articles by Julia Kim and Robert Siegel on Mortgage Crisis Watch: Residential Capital Files Bankruptcy Part 1 of 2 ResCap and Ally Will Not Challenge Repurchase Claims Part 2 of 2 And here’s another from Financial Times: US Judge Orders ResCap […]

Degradation of Legal Profession in Foreclosure Fiasco

Abigail Field raises a salient point regarding the whole soup to nuts foreclosure fiasco:  where were the lawyers at all phases?  Here’s an excerpt regarding the foreclosure segment, but the whole piece is here at her blog, Reality Check: Foreclosure Business Model Destroys the Legal Profession The corruption of our legal system is even worse […]

Unseemly is One Word For It

This is a great post on Naked Capitalism from Michael Olenick.  The scenario described is not at all rare, unfortunately. Elements of their case that should surprise have become the new normal. An assignment of their mortgage from Resmae to ACE 2007-HE4 was dated Feb. 27, 2007, notarized Jan. 9th, 2009, and recorded May 22, […]