Monthly Archives: May 2013
Bankruptcy Court for the District of Massachusetts Finds Bank had Failed to Prove it was Present Title Holder of the Mortgage, Denies Relief from Automatic Stay
May 10, 2013
by Joseph Kelly
In In re Moreno, 08-17715-FJB, 2010 WL 2106208 (Bankr. D. Mass. May 24, 2010), the Bankruptcy Court for the District of Massachusetts found that creditor/Property Asset Management, Inc. (“PAM”) had failed to prove its burden that it had standing to … Continue reading
Read MoreMichigan Federal District Court Finds that Holder of Unsigned Note Can Enforce
by David Reiss
The District Court for the Eastern District of Michigan affirmed the Bankruptcy Court in Mentag v. GMAC Mortgage LLC, No. 12-13350 (Feb. 8, 2013), finding that the holder of the note was entitled to enforce it and has standing to … Continue reading
Read MoreFIRREA Flies
May 9, 2013
by David Reiss
Law360 interviewed me about the federal government’s continuing reliance on FIRREA in Prosecutors Get Last Laugh In $1B BofA Fraud Case (behind a paywall): A controversial legal theory at the heart of a $1 billion mortgage fraud suit against Bank … Continue reading
Read MoreReiss on CFPB Muscle
May 8, 2013
by David Reiss
Law360 interviewed me in CFPB Flexes Enforcement Muscle In 1st Criminal Referral (behind a paywall) regarding the prosecution of an alleged debt relief scam: unsecured personal loan rates Criminal charges filed Tuesday against a New York debt settlement firm based … Continue reading
Read MoreReiss on FIRREA!
May 7, 2013
by David Reiss
Law360 quoted me in a story, Rakoff Ruling In $1B BofA Case May Halt DOJ Hot Streak, that reflects some judicial skepticism about the federal government’s broad reading of FIRREA: Prosecutors have seized on an obscure 1989 law to launch … Continue reading
Read MoreReiss on New Limits on Lending for Fannie and Freddie
by David Reiss
Law360 interviewed me in Fannie, Freddie Will Only Buy Qualified Mortgages, FHFA Says (behind a paywall) about the new limits on lending imposed on Fannie and Freddie: The Federal Housing Finance Agency on Monday said that Fannie Mae and Freddie Mac … Continue reading
Read MorePrincipled Forgiveness
May 6, 2013
by David Reiss
The Congressional Budget Office issued a report, Modifying Mortgages Involving Fannie Mae and Freddie Mac: Options for Principal Forgiveness, that reviews where we are with principal-forgiveness loan modifications. It notes that “Fannie Mae and Freddie Mac have not been allowed … Continue reading
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