$35 Million and All is Forgiven

Foreclosure law exists in its own separate universe. Ordinarily the final administrative finding that there were deficiencies in servicing and foreclosure processing would create, at a minimum, a presumption that these institutions could not be trusted to provide accurate information about the simple things like the identity of the creditor, the proper Plaintiff or beneficiary, the amount due and the authority of any of them to pursue foreclosures.

In the regular universe such an administrative finding would be cause enough to prohibit the use of legal presumptions for documents within the care, custody or control of the parties whose conduct was at best negligent and at worst fraudulent.

Such findings should be grounds to allow homeowners who were foreclosed to get the real information about whether their foreclosure was legal and proper — or anything close to that.

see https://www.wsj.com/articles/fed-fines-5-big-banks-35-million-for-foreclosure-mortgage-servicing-issues-1515772840

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