hat tip Bill Paatalo You can’t pick up one end of the stick without picking up the other end as well. Or, if you like, you can’t eat your cake and still have it. Banks used third party intermediaries all the time, and in non-mortgage loans they are considered as the real lender for purposes …
"True Lender" Lawsuits Causing Business and Legal Headaches for Banks Read More »
Based on the totality of the circumstances, the Court concludes that CashCall, not Western Sky, was the true lender. CashCall, and not Western Sky, placed its money at risk. It is undisputed that CashCall deposited enough money into a reserve account to fund two days of loans, calculated on the previous month’s daily average and …
THE FOLLOWING ARTICLE IS NOT A LEGAL OPINION UPON WHICH YOU CAN RELY IN ANY INDIVIDUAL CASE. HIRE A LAWYER. —————- In an article published by Morgan, Lewis & Bockius LLP, it appears that the evasive true lender argument received new life in an ancillary proceeding before a Federal District Judge in California. By holding …
WHY WE ARE PLANNING 2-3 DAY BOOT-CAMPS AND MANUALS FOR LAWYERS, BOOT-CAMPS FOR FORENSIC ANALYSTS, AND BOOT-CAMPS FOR LAYMEN. IT’S JUST NOT AS SIMPLE AS YOU MAY WANT IT TO BE. NOT EVERYTHING ENDS WELL. THE BATTLE IS ON. THIS JUDGE SAID THE ASSIGNMENT DOESN’T NEED TO BE RECORDED TO PROVE OWNERSHIP. HE’S TECHNICALLY RIGHT, …
