October 2010

Note to the nation’s lawyers: If you or your colleagues are engaged in work that could justify the prefix “robo” — as in “robo-interrogatories,” “robo-due-diligence,” or “robo-electronic-discovery” — now might be a good time to reevaluate your methods.

Processing errors now plaguing at least three major firms that service mortgage loans — including GMAC Mortgage — may prolong the time it takes to complete foreclosures, raising the chances for deeper losses to bondholders as taxes and insurance payments [...]

If you think the U.S. housing market is in bad shape now, prepare yourself for the “tsunami” that’s coming. That’s what at least one financial expert is saying.

There seems to be a misunderstanding as to why the rampant and systemic foreclosure fraud is so dangerous to American system of property rights and contract law. Some of this is being done by people who are naked corporatists (i.e., [...]

Five days of waiting, hoping, elation and disappointment wrapped up Tuesday night at Cal Expo, and getting a good read on the success of the venue’s massive home loan modification event is a little like hitting a moving target.

A former paralegal with Florida’s largest foreclosure law practice has told state investigators that the firm routinely signed court paperwork without reading it, misdated records, forged signatures and passed around notary stamps in the rush to foreclose on homes.

Image via Wikipedia A coalition of groups led by the SEIU is launching a campaign to help homeowners capitalize on a growing foreclosure fraud scandal that has forced banks to halt foreclosures across the country. The campaign suggests a question [...]

Why do some courts consider a properly prepared document trail for mortgage loans so important? Christopher Peterson, a law professor at the University of Utah, provides part of the answer. He quotes a federal bankruptcy judge:

Image via Wikipedia WEST COVINA – Bree Newton, 12, said she was home alone when a woman from Fannie Mae came in August and handed her the family’s eviction notice. She had just learned what “eviction” meant at school. “I [...]

SAN FRANCISCO, Oct 12 (Reuters) – U.S. lenders already facing intense scrutiny from lawmakers and regulators over questionable foreclosure practices will likely face class-action lawsuits on behalf of thousands of homeowners nationwide.

Potential paperwork errors on as much as $1.34 trillion of securitized home mortgages may give investors an opening to back out of deals, threatening to unnerve financial markets, according to Joshua Rosner, managing director at Graham Fisher & Co.

A breakdown in the nation’s foreclosure process threatens to create billions of dollars in losses for federally controlled mortgage finance companies Fannie Mae and Freddie Mac, highlighting how improper actions by banks could impose new costs on taxpayers, said government [...]

John Stephen Lynch, P.O. Box 136, Bartow, publicly reprimanded following a July 14 court order. (Admitted to practice: 1979) Lynch failed to competently represent a client in a post-conviction relief case. Stanley E. Marable, 677 N. Washington Blvd., Suite 2, [...]

Some significant events are in progress, extremely important developments in the grand pathogenesis that reflects the deep decay and deterioration in the US financial structure. The most recent events pertaining to mortgage loans, home foreclosures, and disclosed fraud carry great [...]

Now, up to this point, this is just another sob story of the Mortgage Mess—and as sob stories go, up to this point, it’s no big deal. But here’s where the story gets ominous—here’s where the Jaws soundtrack kicks in: [...]

Would you buy a foreclosed home now, knowing full well the title may be clouded by mortgage fraud? I wouldn’t. Anyone who would without title insurance is asking for a huge legal mess.

SACRAMENTO —Thousands of homeowners in danger of losing their homes waited for hours for a chance to speak with lenders regarding their delinquent mortgage payments. But many who endured the long lines and hours of waiting say they’d do it [...]