While We Were Sleeping, Idaho Took the Lead: In re Sheridan — Real Party Must Have Actual Pecuniary Interest

 
NOW AVAILABLE ON AMAZON KINDLE

“The real party in interest in relief from stay is whoever is entitled to enforce the obligation sought to be enforced. Even if a servicer or agent has authority to bring the motion on behalf of the holder, it is the holder, rather than the servicer, which must be the moving [...]

TWO Undisclosed Yield Spread Premiums: Why Securitization Changes the Game

LIVINGLIES NOW AVAILABLE ON AMAZON KINDLE!
SIGN UP FOR CLEARWATER, FLORIDA SEMINAR NOW

So called “auditors” will miss the fact that there are two yield spread premiums that were not disclosed to either the homeowner or the investor. Failure to account for the movement of money through the securitization chain and failure to account for appraisal [...]

The Truth Will Set You Free: The Logic and the Law are Simple and Old as Common Law Dating Back Centuries

Thanks to Deontos:
Editor’s Note: The logic is simple, basic and the law is old, accepted and “black letter.” No new law is needed to overturn all the foreclosures since 2001, no fancy footwork is required to throw the bums out of court and sue them for the damage they created when they filed false papers [...]

Human Cost of Economic Skulduggery

Editor’s Note: From Home, to Car to Shelter. It’s a common story and a tragedy. But if that is a tragedy then where is the outrage when we add the component that she was probably wrongly dispossessed, that she probably still owns her house and that if she had proper legal representation in a court [...]

Judge Long Massachusetts Foreclosure Decision Throws Securitization Intermediaries into Chaos, REO Sales Stopped

Editor’s Note: Anyone who underestimates the importance of Judge Long’s decision in Massachusetts and the combined effect with the Kansas and Arkansas Supreme Court decisions does so at their peril. Lawyers wake up! You are not just missing an opportunity, you are missing an important piece of due diligence that makes you vulnerable to claims [...]

What do these case decisions mean?

First, you must realize that they are not “Law” with a capital “L”. Other jurisdictions could return opinions that are completely the opposite of the ones we have seen recently. I consider that unlikely. The reasoning is exactly what I have been saying for 2 years when I predicted the title issues, the enforcement issues, [...]

Judge Long: Principal Must be Disclosed

Who is the lender? This is an abstract from the Judge Long decision. Things in red were done by Max Gardner, in bold by Neil. see entire abstract Judge Long Ibanez Massachuseetts Decision Abstract
Editor’s Note: The “principal” is the “lender” is the creditor” is the “real party in interest” is the “only party that advanced [...]

US Bank v Ibanez: Now They Are Getting the Point

Many Thanks to Max Gardner for this contribution:
See  entire Case at US Bank v Ibanez Memo of Decision Denying US Bank Mts Oct 14 2009Misc 384283 and Misc 386755
See Neil’s Abstract: judge-long-principal-must-be-disclosed
See Boston Globe Article: judge-long-massachusetts-foreclosure-decision-throws-securitization-intermediaries-into-chaos-reo-sales-stopped

See what-do-these-case-decisions-mean

US Bank v Ibanez. Memo of Decision Denying US BankMts. Oct.14.2009 Misc 384283 and Misc 386755.doc “The issues in [...]

TOXIC TITLE: Cloud in Massachusetts: Getting Back Your Home AFTER Foreclosure Sale

Kathleen Engel, professor of law at Suffolk University, said the federal government should step in to help states deal with “toxic titles’’ that are clogging up the system from California to Florida. She said until recently few people were scrutinizing paperwork of foreclosing lenders, whose actions are causing problems for borrowers, investors, and municipalities. No [...]

Why the SPV (TRUST) is NOT THE LENDER: Using MERS Against the Pretender Lenders

the use of nominees or straw men doesn’t mean they can be considered principals in the transaction anymore than your depository bank is a principal to a transaction in which you buy and pay for something with a check. The fact that the money was processed through your depository bank doesn’t make them party to [...]