Judges Should Not Engage in Ad Hoc Law-Making to Help Banks Skirt Legal Requirements at Homeowners’ Cost

Should our judges be skewing our laws in favor of after-the-fact relief to the “community of lenders,” as one appellate court judge put it? Yale Law Journal published an interesting comment about judicial law-making in the foreclosure context.  In discussing the context of judicial foreclosure and res judicata finality principles, the authors said: When addressing faulty foreclosures, […]

Nationstar Lawsuit to Watch

A new investor lawsuit filed against Nationstar was reported by Reuters, in an article called, “Securities lawsuit says Nationstar concealed illicit practices,” by Dena Aubin on June 5, 2015. The case is  City of St. Clair Shores Police and Fire Retirement System v. Nationstar Mortgage Holdings et al, U.S. District Court, Southern District of Florida, […]

Arizona Supreme Court Denies Review of Steinberger: Steinberger and Stauffer Stand as Lone Pillars of Hope in a Formerly Hopeless Situation for Arizona Homeowners

Yesterday was a good day for homeowners in Arizona, yet in a very quiet way.  Often in the law, it is the seemingly bone-dry incremental progress that can change the whole chess game.  I think most lawyers have expended some effort trying to explain their exuberance over a seemingly tiny development to  audiences including our […]

Arizona Court of Appeals Refuses to Further Widen the Death Squeeze of the 33-811(C) Waiver of Claims and Defenses to Trustee’s Sales

In Morgan AZ Financial, LLC v Gotses, the Arizona Appellate Court reversed a summary judgment for the “lender,” holding that common-law defenses to a borrower’s liability on the note survive the trustee’s sale, despite the “waiver” provisions of ARS 33-811(c). This is good news for borrowers who are facing deficiency actions because they aren’t covered by […]

Wells Fargo Manual for Fabricating Foreclosure Documents

One of the country’s largest banks designed a specific, formal process for falsifying paperwork when its foreclosure efforts were impeded by missing documents, according to documents filed in a New York court earlier this week. Naked Capitalism: New Lawsuit Alleges Wells Fargo Has Manual for Mass Fabrication of Foreclosure Documents NY Post Article:  Wells Fargo Made Up On-Demand […]

AZ 2nd to Worst State at Getting Aid to Homeowners–WTG AZ

From the Arizona Republic: A newly released federal audit found that Arizona has one of the worst records of any state in dispersing federal housing aid to struggling homeowners. The audit, released late Monday, found that Arizona distributed the second lowest percentage of federal “Hardest Hit” mortgage aid directly to homeowners, despite being one the […]