Editor’s Note: Bid Rigging is exactly what is happening at the steps of every foreclosure action involving so-called securitized loans. Here BofA admits it but not for home foreclosures. The party submitted the non-cash bid (called a credit bid) is not the creditor, and the title is transferred to yet another party who is also …
Bank of America Pays $137 Million in Bid-Rigging Case Read More »
COMBO Title and Securitization Search, Report, Documents, Analysis & Commentary “… maybe the crisis will make the banks realize that they ought to be doing fewer foreclosures and more loan modifications — sensible adjustments that allow deserving families to stay in their homes. And if this happens, we’ll have the lawyers to thank. “These may …
THANK YOU CITI FOR DOING OUR WORK FOR US TOP READER PICKS FOR SERVICES AND PRODUCTS Submitted by Jon Lindeman, Esq. Florida So with the chain of documentation now in question, and trustee ownership in question, here is one legal scenario, according to Prof. Levitin: The mortgage is still owed, but there’s going to be …
Citi Article —FORECLOSURE GONE WILD— Tells ALL: Use this MEMO to make your case Read More »
TOP READER PICKS FOR SERVICES AND PRODUCTS October 8, 2010 After Foreclosure, a Focus on Title Insurance By RON LIEBER When home buyers and people refinancing their mortgages first see the itemized estimate for all the closing costs and fees, the largest number is often for title insurance. This moment is often profoundly irritating, mysterious and …
REPUBLIC TITLE ANNOUNCEMENT: The Company will not insure title to any property which has been foreclosed by Ally Financial, Ally Bank or GMAC until further notice. This follows a series of similar announcements over the past year from smaller title companies who, recognizing the enormous liability that the banks were attempting to shift to them, …
TITLE COMPANIES REFUSE TO ISSUE POLICIES ON SECURITIZED MORTGAGES Read More »
I HAD A QUESTION FROM ONE OF OUR BLOG READER-CUSTOMERS AND I REALIZED EVERYONE SHOULD SEE THE ANSWER. Chris: Your question is a smart one. Here is the deal. We provide the search capacity and if you want a complete analysis and accounting you’ll need to retain someone for that. we have that available if …
COMBO TITLE and SECURITIZATION Search, Report, Documents and Comprehensive Analysis SUBSCRIPTION MEMBERSHIP WITH BENEFITS Credit Charles Koppa (Poppa Koppa) with putting me onto this. He does GREAT work. poppakoppa@hotmail.com. He’s not lawyer but I trust him more than I do most lawyers to get to the bottom of things. He’s kind like one of those …
From Eaine B Editor’s Note: I have long advocated sending letters, objections to sale and complaints against “trustees” named (or substituted) on deeds of trust who initiate foreclosure proceedings. Indeed, it is highly probable that because of statutes attempting to protect the trustee from liability, the trustee is at best usually named only as a …
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 …
“That’s right. Issuers are essentially paying twice for flawed deals that bestowed great riches on the bankers and advisers who sold them. Taxpayers should be outraged, but to be angry you have to be informed — and few taxpayers may even know that the complicated arrangements exist.” Editor’s Note: At some point, it will become …
The business case for taking, handling and litigating residential “mortgage” cases has been proven over and over again. Unfortunately most lawyers are ignoring this opportunity. The latest estimates are that it will take 6-12 years to clean up this mess and I think that is very conservative. My analysis shows that it will take the …
Michigan, Ohio, Texas Lawyers Wanted: We Know You're Out There Read More »
One of the hidden issues in the mortgage meltdown is the issue of clouded title caused by non-disclosed table-funded loans that were “securitized.” The unquestionable presence of unknown parties, MERS (or MERS like pooling, service and assignment agreements) who at least COULD assert claims on the “borrower’s” obligation, note or mortgage, means that your loan …
Title Carriers Hit the Fan: Their Solvency in Question Read More »
The essential issue remains: who if anyone has a title interest under the security instrument? It would appear that many “lenders” have attempted to make various provisions for transferring the note since they knew they would be either selling it for money or using it to replace a non-performing loan under a pooling and service …
