Monthly Archives: May 2013
NY Appellate Court Rules Modification Not Enforceable in Foreclosure
May 31, 2013
by David Reiss
The Appellate Division ruled in Wells Fargo Bank, N.A. v. Meyers, 2013 Slip Op. 03085 (2d Dep’t), that a failure to negotiate a loan modification in good faith, which is required under NY foreclosure law, does not support the unilateral … Continue reading
Read MoreStandard & Poor Puffery
May 30, 2013
by David Reiss
The Department of Justice filed its opposition to S&P’s Motion to Dismiss the federal government’s FIRREA lawsuit. At this stage of the litigation, it appears as if the key issue is whether S&P’s alleged misrepresentations about its business practices are … Continue reading
Read MoreRisky Business Model for Homeowners?
May 29, 2013
by David Reiss
The Mortgage Bankers Association issued a report, Up-Front Risk Sharing: Ensuring Private Capital Delivers for Consumers, intended to increase the role of the private sector in the portion of the mortgage market currently dominated by Fannie Mae and Freddie Mac. … Continue reading
Read MoreReiss on Housing Affordability
May 28, 2013
by David Reiss
I will be speaking on the FHA and Housing Affordability on June 11th at the AALS Workshop on Poverty, Immigration and Property will be held June 10-12 in San Diego. The workshop brings together three communities of scholars: poverty, immigration … Continue reading
Read MoreReiss on the Ethics of Subprime Lending
May 24, 2013
by David Reiss
Fordham Law School is sponsoring an event on The Mortgage Crisis – Five Years Later on June 3rd. I will be speaking about the ethics of subprime lending on the second panel. The speakers are Panel 1: The Mortgage … Continue reading
Read MoreWyoming Supreme Court Upholds Assignment to MERS in Bankruptcy
May 23, 2013
by David Reiss
Professor Wilson Freyermuth posted this summary of the Wyoming Supreme Court’s opinion In re Gifford, 2013 WY 54 (Wyo. Sup. Ct. May 8, 2013) to the DIRT listserv and has given us permission to cross-post it here: Synopsis: Wyoming Supreme … Continue reading
Read MoreReiss on Qualified Mortgage Rule
May 22, 2013
by David Reiss
TheStreet.com quoted me in a story, New Mortgage Lending Rule Intended to Protect Borrowers May Hurt Self-Employed. It reads in part, “Lenders are incentivized to originate qualified mortgages, because doing so makes it easier to defend against borrower lawsuits,” says … Continue reading
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