March 12, 2013
Untrustworthy?
John Campbell has posted an abstract (and hopefully soon a draft) of Putting the ‘Trust’ in Trustees: An Examination of the Foreclosure Crisis and Suggestions for Reforming the Role of the Trustee. The draft itself proposes legislation for non-judiical foreclosure … Continue reading
March 12, 2013 in Downstream litigation commentary | Permalink | No Comments
March 6, 2013
UCC’s Permanent Editorial Board Reports on Ownership of and Right to Enforce Notes
In Application of the Uniform Commercial Code to Selected Issues Related to Mortgage Notes, the Permanent Editorial Board for the Uniform Commercial Code describes the legal difference between the right to enforce a note (governed by Article 3 of the … Continue reading
March 6, 2013 in Downstream litigation commentary | Permalink | No Comments
February 8, 2013
Mortgage Electronic Registration System (MERS): A Twenty First Century Creation Navigating An Eighteenth Century Legal System
Thomas Kilpatrick of the University of South Carolina School of Law discusses MERS and argues that MERS is emblematic of the systemic problems leading up to the 2008 housing crisis as it was forged out of the environment which ultimately led … Continue reading
February 8, 2013 in Downstream litigation commentary | Permalink | No Comments
February 6, 2013
Dodd-Frank Solutions to Protect Against Wrongful Foreclosures
Christopher Seide wrote an article titled “Consumer Financial Protection Post Dodd-Frank: Solutions to Protect Consumers Against Wrongful Foreclosure Practices and Predatory Subprime Auto Lending” for the University of Puerto Rico’s Business Law Journal, summarizing the various solutions Dodd-Frank offers to … Continue reading
February 6, 2013 in Downstream litigation commentary | Permalink | No Comments
December 6, 2012
Nolan Robinson Argues that MERS Should not be Allowed to Initiate Foreclosure Proceedings in Cardozo Law Review
Abstract: Few American homeowners know much about the small, Virginia-based company that has revolutionized the mortgage industry over the past fifteen years. Yet, Mortgage Electronic Registration Systems, Inc. (MERS) is the named mortgagee on nearly two-thirds of all newly originated … Continue reading
December 6, 2012 in Downstream litigation commentary | Permalink | No Comments
November 19, 2012
More on Hockett’s Eminent Domain Solution for Underwater Mortgage Debt
Bob Hockett has posted this update to his plan by which localities would use their power of eminent domain to take underwater mortgages and reduce the principal amount owed so that the debt would be sustainable for homeowners. The discussion … Continue reading
November 19, 2012 in Downstream litigation commentary | Permalink | No Comments
November 14, 2012
Hurricanes Hitting Underwater Mortgages
A former colleague, Barry Goldberg, raises an important financial issue relating to the devastation that Hurricane Sandy left in its wake. Massive flood, storm and fire casualties on homes with underwater mortgages may make for an odd set of incentives … Continue reading
November 14, 2012 in Downstream litigation commentary | Permalink | No Comments
