SELLOUT TO MERS MEMBERS — AMNESTY!?: FANNIE MAE ISSUES NEW GUIDELINES ON RECORDING ASSIGNMENTS

MOST POPULAR ARTICLES GET COMBO TITLE AND SECURITIZATION ANALYSIS – CLICK HERE EDITOR’S NOTE: It appears as though Fannie Mae is trying to give some wiggle room to banks and servicers under the guise of new guidelines. But State law prevails and the guidelines are only effective as a matter of contract between FANNIE and [...]

JUDGE MARGERET MANN (SO. CA BKR) PLUNGES INTO DETAILS AND COMES UP WITH WELL-REASONED DECISION

MOST POPULAR ARTICLES GET COMBO TITLE AND SECURITIZATION ANALYSIS – CLICK HERE SEE 42-in_RE_Cruz_vs_Aurora AURORA LOAN SERVICES LLC, SCME MORTGAGE BANKERS INC, ING BANK FSB, MORTGAGE ELECTRONIC REGISTRATION SYSTEMS ALL BITE THE DUST, SUBJECT TO LIABILITY AND NO ABILITY TO FORECLOSE WITHOUT COMPLYING WITH LAW. Salient points of Judge Mann’s Decision: TRUTH IN LENDING  was [...]

REGISTER OF DEEDS JEFF THIGPEN (NC) AND JOHN O’BRIEN (MA): REQUIRE ALL PAST AND PRESENT MERS ASSIGNMENTS TO BE FILED

SEE LIVINGLIES LITIGATION SUPPORT AT LUMINAQ.COM GET COMBO TITLE AND SECURITIZATION SEARCH, REPORT, ANALYSIS ON LUMINAQ SEE 60-minutes-securitization-property-titles-are-a-train-wreck GETTING CLOSER TO THE TRUTH EDITORIAL COMMENT: Every day we take a little more lipstick off the pig and discover, of all things, A PIG! This is a basic challenge to Wall Street that is so simple [...]

BANKS HITTING THE WALL

TOP READER PICKS FOR SERVICES AND PRODUCTS EDITOR’S NOTE: This is not just a paper crash, which old-timers like myself will remember from the Wall Street paper-crash of the late 1960′s. Simple logic leads to the inevitable conclusion that property rights and contracts, mortgages, notes and obligation are all about paperwork and recording. The trail is [...]

PACER CITED FOR ALLOWING IMPROPER DOCUMENTATION ON LINE

I MERELY REPORT THE FOLLOWING AS A POSSIBLE “HEADS UP”. I HAVE NOT HEARD OF THIS PROBLEM WITH PACER. IF ANY OF YOU KNOW SOMETHING ABOUT IT, PLEASE POST YOUR COMMENTS. Editor’s Note: Like MERS, garbage in, garbage out. Without a referee the players do whatever suits them. Here PACER enables litigants to submit questionable [...]

BOA Suits Claims Credit Reports Used Instead of Title Searches

BofA Title claims BofA Wants $535M From Title Insurers By DAN MCCUE CHARLOTTE, N.C. (CN) – Bank of America claims mortgage insurers owe it more than $535 million for losses it suffered when the housing bubble burst. BofA, which bought the poster boy of the subprime lending fiasco, Countrywide Financial, 2 years ago, says title [...]

Financial Double Jeopardy and Illegality of Securitization

Editor’s Note: to most Judges and most lawyers the thought that a home could be foreclosed by the wrong party, or that there could be a declaration of default on a satisfied mortgage, and that these things could lead to sale of a home by a bank or other party that doesn’t own it to [...]

MERS ARTICLE REVEALS INHERENT FLAWS

see FORECLOSURE_SUBPRIME_MORTGAGE_LENDING_AND_MERS1 Editor’s Note: This appears to be public domain. The article is excellent in its analysis of MERS. Here is the Table of Contents: FORECLOSURE, SUBPRIME MORTGAGE LENDING, AND THE MORTGAGE ELECTRONIC REGISTRATION SYSTEM Christopher L. Peterson* TABLE OF CONTENTS I. THE AMERICAN REAL PROPERTY RECORDING SYSTEM II. THE ORIGIN AND OPERATION OF MERS [...]

Ohio Appeals Court Bangs BONY For Not Owning the Loan

see 2010-ohio-542 After-acquired interest not good BONY v Gendele Significant Excerpts: By the way this is why we need title and escrow agents to act as experts or forensic analysts. A simple title chain analysis reveals the defect and now  Trial Judges in Ohio have a rule to follow. Will the real party in interest [...]

Walking Away and Keeping Your House: Strategic Default Strategy

A provocative paper by Brent White, a law professor at the University of Arizona, makes the case that borrowers are actually suffering from a “norm asymmetry.” In other words, they think they are obligated to repay their loans even if it is not in their financial interest to do so, while their lenders are free [...]

Foreclosure Defense: UCC on Delivery of Note

From: Whitman, Dale …. UCC amendments that require a secondary market purchaser of a note to give credit for any payments made to the original payee of the note, if they were made before the maker of the note was notified that the note had been transferred. [Editor's Note: This is exactly what happened in a [...]