Written by Beth Findsen AttorneyAugust 23, 2016August 23, 2016

Investors in Commercial Mortgage Backed Securities Nervous About Sharp Tactics of Special Servicers

Investors in Commercial Mortgage Backed Securities (CMBS) are objecting to the aggressiveness of special servicers. Special servicers are transferred servicing rights to loans that are already in default. These complaints were obliquely mentioned in a recent Fitch Ratings press release. Apparently, just as with Residential Mortgage Backed Securities (RMBS), special servicers may be acting abusively […]

Written by Beth Findsen AttorneyJuly 24, 2016

More on Dayen’s Book “Chain of Title”

We did a recent post on “Chain of Title.” I saw this article today and it resonated with me. I have also experienced the weird “blame the victim” vibe in courthouses. Meanwhile, my clients were not just financially decimated, bamboozled, and betrayed, but some were literally dying. They needed medical care they could no longer […]

Written by Beth Findsen AttorneyJune 25, 2016June 25, 2016

Home is Where the Fraud Is

David Dayen is a writer who gifted the public with thoughtful, investigative journalism on the foreclosure crisis as it unraveled. Where most “real estate” journalists stayed firmly perched in the shallows, Dayen waded deeper. He offered an acidic anodyne to the delusional, tepid cheerleading of the Gannett-type newspaper writers, who wrote trite, flack-approved fluff on […]

Written by Beth Findsen AttorneyMarch 31, 2016April 4, 2016

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, […]

Written by Beth Findsen AttorneyMarch 22, 2016April 4, 2016

State Attorneys General Urge U.S. Senate to Do Job: Vote on Supreme Court Appointee

Nineteen State Attorneys General Urge the Senate to Do Their Job and Vote on a Supreme Court Nominee Their letter to Senate leaders stated: The Constitution clearly sets out the process for filling a Supreme Court vacancy. The President has a duty to make a nomination. President Obama, duly elected twice by the American people, […]

Written by Beth Findsen AttorneyFebruary 10, 2016April 4, 2016

The People’s Revenge? Voting their Anger

Post-Iowa and New Hampshire, articles abound regarding populist anger. I am particularly interested in fostering awareness of the strangling hold that a very few hold over so very many. I would particularly like to address the way the rigged system has led us to a place where the American middle class consumer cannot obtain justice but that is […]

Written by Beth Findsen AttorneyJanuary 29, 2016April 4, 2016

Lady Justice Awakens Slowly after Seven Year Coma; Rule of Law Needs Major Overhaul

While we typically think of the rule of law as being designed to protect the weak against the strong, and ordinary citizens against the privileged, those with wealth will use their political power to shape the rule of law to provide a framework within which they can exploit others.They will use their political power, too, […]

Written by Beth Findsen AttorneyJanuary 28, 2016April 4, 2016

Freddie and Fannie Sell Your Home Loans to Vultures for Pennies on Dollar: Vultures Pick the Bones of Distressed American Homeowners

Freddie Mac Kicks Off 2016 with Largest Ever Delinquent Loan Auction article here: The transaction announced on Friday is Freddie Mac’s third bulk NPL sale worth more than $1 billion. The previous two were worth $1.1 billion each. Overall, it will be Freddie Mac’s ninth bulk Standard Pool Offering (SPO) auction since the first sale […]

Written by Beth Findsen AttorneyJanuary 27, 2016April 4, 2016

SIGTARP Reports Servicers Wrongfully Terminating Homeowners from HAMP Modifications

In the newest SIGTARP Report dated January 27, 2016, reviewing the use of bailout TARP money and the shenanigans of your favorite large financial institutions to abuse and damage the people they received money to help, get your smelling salts and vapors because the findings are, wait for it, yes, loan servicers are still abusing homeowners and […]

Written by Beth Findsen AttorneyDecember 28, 2015December 28, 2015

The Big Short Delivers

The movie version of the Big Short exceeded my expectations. It made mortgage-backed-securities not only interesting, but funny. Steve Carell’s acting was genius, as was Christian Bale’s—go see it. It’s based on Michael Lewis’s (Liar’s Poker) biopic of the people who saw the housing bubble, and shorted the market. It nails the revolving door relationship […]