REFinBlog

November 29, 2012

Florida Court Holds Bank Lacked Authority to Foreclose Absent Substantiation of Note Assignments

In Gee v. U.S. Bank Nat. Ass’n, 72 So. 3d 211 (Fla. Dist. Ct. App. 2011) the court held that summary judgment against appellant/homeowner was inappropriate because U.S. Bank failed to establish its authority to foreclose. A copy of the … Continue reading →

Texas Appellate Court Holds that Formal Transfer of Deed is Not Required to Initiate Foreclosure

In Robeson v. Mortgage Electronic Registration Systems, Inc., No. 02-10-00227-CV (Tex. App. –Fort Worth [2nd Dist.] 2012, pet. denied), the Texas Court of Appeals affirmed a summary judgment motion by MERS and the Midfirst bank granted by the trial court. … Continue reading →

November 20, 2012

Federal District Court in Texas Rules That Third-Party Lacks Standing in Recording-Fee Case

It appears that although courts may be receptive to claims about lost recording fees because of MERS, they won’t hear cases brought by third parties (at least, not in federal court). The citizens of a Texas county brought the claim … Continue reading →

Nevada Supreme Court Unanimously Rejects Irreparable Split Theory and Grants Bank Standing

In Edelstein v. Bank of New York, the Nevada Supreme Court unanimously rejected the irreparable split theory. The theory was brought up to challenge the Bank’s standing to foreclose on the plaintiff’s property. The irreparable split theory provides that a … Continue reading →

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 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 10, 2012

Federal Court in Texas Rules in Favor of Counties in Recording-Fee Case Against MERS

Margaret Cronin Fisk & Tom Korosec report a decision by the U.S. District court in Dallas to not dismiss a case brought by several Texas counties against MERS and Bank of America for lost recording fees. Margaret Cronin Fisk & Tom Korosec, Bank of America, MERS … Continue reading →