RISING TIDE OF JUDGES ORDER SANCTIONS AGAINST BOTH PRETENDER LENDERS AND THEIR LAWYERS

Nov 19, 2010

COMBO Title and Securitization Search, Report, Documents, Analysis & Commentary

I keep receiving reports that pretender lenders and their lawyers are getting hit with sanctions for, well, pretending they are lenders. I saw an order from Judge Holloway in August in Tucson Bankruptcy Court against Saxon Mortgage and Tiffany and Bosco and a few others, but I haven’t actually seen the final orders levying sanctions. Thank you readers for sending me the information. Could you please give me the copies of orders in which sanctions were imposed?

These orders are enormously important because of two things. First it shows that not only are Judges getting the point, they are getting angry. AND second for a Judge who still is resisting your defenses, showing them the wording of the orders from someone else on the bench might give that judge some pause to think. It is very persuasive, when a Judge, like the case in Tucson lays out the facts that Saxon pretended to be the owner and holder of the loan when they knew and their lawyers knew that it had been purportedly sold to a trust. The Judge is saying that the lawyers and the client lied directly to the court. Judges don’t like that.

By giving details, the Tucson Judge was giving a warning to other Judges that something is not right here and that the borrowers might be on to something much more important than either the technical requirements of mortgage transfers or even the validity of the encumbrance itself — this Judge was saying, much as others in Ohio, Massachusetts, California and other states have said, that the integrity of the court system is priceless, in Ohio Judge Boyco’s words, and that any effort to tamper with it is an attack on the court system itself.

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