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The Foreclosure Mess and Compliance

Why is the foreclosure machinery of our nation's largest banks suddenly grinding to a halt? The "Produce the Note" movement, encouraging consumers to challenge the lender in foreclosure and make them produce the note. It's not about proving you are current on your mortgage. It's...

Directors Beware! Next Crisis is Upon Us

Don't look now public company directors, but the next financial crisis may be upon us and it looks a lot like the 2008 crisis that was borne out of the housing bubble. Apparently, the underlying cause of the collapse of the mortgage-backed securities (MBS) and collateralized debt obligations...

NY Courts’ New Rule Could Slow Down Foreclosures

As reported on Law.com , the New York state court system has directed lawyers moving for foreclosures to file an affirmation that they have verified the accuracy of the papers they are filing in support of the foreclosure. While lawyers regularly operate under ethical obligations to ensure that the...

RoboSigner

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Mortgage Wars Part 2--Attack of the Robo-Signers

The first post in this series discussed successful and (largely) unsuccessful claims brought against mortgage servicers. In Ashley Martins v. BAC Home Loans Servicing, LP , No. 12-20559 (5th Cir. 6/26/13) [ an enhanced version of this opinion is available to lexis.com subscribers ] (also discussed in...