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
Read MoreUtah 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
Read MoreUtah 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
Read MoreRakoff 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
Read MoreMichigan 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
Read MoreD.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
Read MoreD.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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