Monthly Archives: May 2013
Noncompliance with PSA Voids Assignment of Note and Mortgage
May 3, 2013
by David Reiss
Wells Fargo Bank, N.A. v Erobobo, 2013 NY Slip Op 50675(U) (Sup. Ct. Kings, Apr. 29, 2013) reaches a pretty extraordinary result: noncompliance with the assignment provisions of a Pooling and Servicing Agreement voids the assignment of a note and … Continue reading
Read MoreThe Weak Can Never Forgive?
May 2, 2013
by David Reiss
S&P has issued a report, Principal Forgiveness, Still The Best Way To Limit U.S. Mortgage Redefaults, Is Becoming More Prevalent, that asserts that its research “demonstrates the likelihood that servicers will recover a greater portion of their receivables through principal … Continue reading
Read MoreDisney-fied Homeownership Policy
May 1, 2013
by David Reiss
The Census Bureau just released a report indicating that the homeownership rate is 65 percent, which is its lowest in since 1995. (5) While some will greet this news with dismay, it provides an opportunity to ask — what are … Continue reading
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