Monthly Archives: February 2013

More on Housing America’s Future

February 28, 2013

by David Reiss

I blogged about some of the big themes in the Bipartisan Policy Center’s Housing America’s Future report.  Today, I take a closer look at their position on housing finance in particular: The report states that “it is highly unlikely that … Continue reading

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Utah District Court Holds that MERS Is Authorized to Begin Non-Judicial Foreclosure Despite the Lender’s Sale of the Loan

by Justin Rothman

In King v. American Mortgage Network, Inc., No. 1:09 CV 162 DAK, 2010 WL 3516475 (D. Utah Sept. 2, 2010), the United States District Court of Utah held that MERS and Chase Home Finance (“Chase”) were authorized to begin non-judicial … Continue reading

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Utah District Court Holds that MERS Has the Authority to Initiate Non-Judicial Foreclosure and to Assign Interest to Another Party

by Justin Rothman

In Schmitt v. Stearns Lending, Inc., No. 2:11 CV 00381 DS, 2011 WL 3861609 (D. Utah Aug. 31, 2011), the United States District Court of Utah held that MERS has the authority to initiate non-judicial foreclosure on a property and … Continue reading

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Rakoff Rules for Monoline Insurer Against Securitizer

February 27, 2013

by David Reiss

Judge Rakoff ruled for Assured Guaranty against Flagstar and awarded Assured more than $90 million.  The 103 page order is a pretty compelling read as it is a careful review of a battle of the experts and has lots of … Continue reading

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Michigan Supreme Court Stayed Trial Court Proceedings in Order for the Court in Residential Funding Co. v. Saurman to Decide Whether MERS may commence a Foreclosure-by-Advertisement as Mortgagee of Record

by Robert Huberman

In PB Reit, Inc. v. Debabneh, 801 N.W.2d 380 (Mich. 2011), the Michigan Supreme Court stayed trial court proceedings including attempts to enforce the order of eviction. quick short term loans uk Concurring Judge Markman stated that the Court of … Continue reading

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D.C. District Court Rules Bank Has Standing in Foreclosure Case

February 26, 2013

by Rafe Serouya

In McCarter v. Bank of New York, 873 F. Supp. 2d 246 (D.D.C. 2012), Plaintiff Homeowner was issued a mortgage loan of $270,000 which was reduced to a Deed of Trust and Promissory Note. Plaintiff then applied for a loan … Continue reading

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D.C. District Court Holds Bank Has Right to Record Deed and Deeds of Trust Previously Unrecorded Due to Clerical Error Not Cured By Original Property Owner

by Rafe Serouya

In Wells Fargo Bank, N.A. v. Wrenn, CIV.A. 08-165 (CKK), 2009 WL 1705692 (D.D.C. June 18, 2009), Wrenn purchased property from Stevens, and Wrenn simultaneously entered into a home mortgage loan transaction, pursuant to which she executed two Promissory Notes … Continue reading

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