Archive for the ‘Mortgage Bankers Association’ Category

Support of Florida foreclosure bill holds narrow lead in Tallahassee

Wednesday, June 5th, 2013

Real estate defense attorney Roy Oppenheim includes excerpts in the following article, written by Kimberly Miller, Palm Beach Post, Friday, May 31st, 2013, and republished in The South Florida Law Blog.

foreclosure bank ownedFlorida Gov. Rick Scott is facing heavy lobbying from both sides of the fast-track foreclosure bill that arrived on his desk this week.

Response in support of the plan, HB 87, narrowly outpaces those fighting the bill, which passed both chambers during the 2013 legislative session after years of debate and compromise.

Calls in favor of the legislation stood at 632 on Thursday, with opposition calls at 563.

Scott has until June 12 to take action on the bill, or he can allow it to become law without his signature. He’s been asked by homeowner advocates and Sen. Darren Soto, D-Orlando to veto the legislation on grounds that it violates historic property rights laws and puts more onus on the homeowner to prove why he or she shouldn’t lose their house.

“In the middle of the game this law would change the rules of current engagement of existing trials before judges,” said Oppenheim Law, South Florida real estate [foreclosure] defense attorney Roy Oppenheim, who opposes the bill. “This will only create more uncertainty and a host of new issues will ultimately arise.”

Proponents of the bill say it will streamline Florida’s meandering foreclosure process, making it easier to foreclose on abandoned and vacant homes while helping homeowners by reducing the amount of time a bank can pursue a borrower for unpaid debt from five years to one year.
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Eric Schneiderman: This Millennium’s Elliot Ness?

Sunday, January 29th, 2012

New York Attorney General Eric Schneiderman

We here at the South Florida Law Blog decided to clock in a few hours this weekend, because if we didn’t we’d probably fall behind President Obama’s new man-in-the trenches Eric Schneiderman.

The New York Attorney General, only days into his appointment as the head of the newly-formed Residential Mortgage-Backed Securities Working Group has already issued subpoenas to 11 financial companies.

President Obama only announced this new investigative unit during Tuesday’s State of the Union, yet the “check”, or in this case the subpoena, is already in the mail.

If you were skeptical that Obama was still interested in the status-quo when it comes to the banks and doing business, may we present Exhibit A.

Eric Schneiderman is turning himself into a modern-day Elliot Ness.

You remember Ness don’t you?

The federal agent whose team of “Untouchables” couldn’t be bought off and helped bring down Al Capone?

Schneiderman too has the era of a man who will not be co-opted. If anyone can stay above the fray and not be reeled in by the banks and their money, he can.

Investigation Going After Cause of Housing Crisis

Schneiderman has stood up to the President before, openly opposing the settlement agreement that we here at the South Florida Law Blog have railed against. And now he is Obama’s point man for placing blame and creating accountability for causing the worst economic crisis in the US since the Depression.

Elliot Ness

The Huffington Post is reporting that outside of claims directly relating to robo-signing fiasco, the banks will not be released from the threat of prosecution for the vast majority of securities-related crimes.
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Roy Oppenheim Says Florida Bank COO Mortgage Not a Sweetheart Deal

Thursday, September 15th, 2011

 

 

The South Florida Business Journal caught up with Weston Title and Oppenheim Law to get Roy Oppenheim’s opinion on a recent mortgage deal.
Banks giving their employees sweetheart deals on financial products is nothing new. Recently, Great Florida Bank COO, Masood Ghomeshi experienced one of the perks of being a bank employee by landing a loan modification that many consider to be a good deal. According to sources, Ghomeshi’s was able to change the terms of his $652,000 home loan with Great Florida Bank so that he is only required to pay the interest on the loan for the next three years. This will effectively reduce his monthly mortgage bill by $1,500 every month.
But foreclosure defense and real estate attorney, Roy Oppenheim, disagrees that Ghomeshi got as good a deal as everyone thinks. He has seen other people get better interest rates than those afforded to Masood Ghomeshi. Additionally, “Many people can’t get this deal because they can’t get the attention of banks,” says Oppenheim. In order to get their bank to work with them, Oppenheim says most people have to default on their loans. This doesn’t appear to be the case with Ghomeshi.
Terrence Brown, a spokesperson for the bank, stated that Great Florida Bank has a loan modification program available for their customers. However, according to banking attorney Andrew Hall, the bank must make the same terms they gave Ghomeshi available to all of their customers. Additionally, since it is an insider loan over $25,000, the deal must be approved by the bank’s board.
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Then and Now: Florida Judge Says: Shut up and mind your own business!

Monday, January 10th, 2011

If we digress for one moment and go back to the end of 2007 or the beginning of 2008 here is the story I will share with you all. I was attending a hearing on behalf of one of our earlier foreclosure clients in the area of foreclosure defense before a prominent Broward County Circuit judge. I witnessed the judge was signing hundreds of summary judgments where people were not being defended. In the case that I was defending there was clearly a mistake in who the bank was and a standing issue concerning the court’s and judge’s jurisdiction along with the authority to rule on this case.

The full Power point is available by clicking here

The full Power point is available by clicking here

It was at that time that I indicated to the judge that even though he was dismissing my case he was continuing to sign the summary judgments against individual borrowers/homeowners who probably had the same meritorious defenses.

The judge looked me in the eye and said, “Do you represent those individuals?”

I looked back and quietly said, “No.” So he told me to “shut up and mind my own business.”

We then engaged in a subsequent conversation where I questioned whether or not he had any obligation whatsoever under the Constitution of Florida and under his oath of office to evaluate the documentation that was being submitted as truthful to him upon which he was signing summary judgments.

He initially engaged me in a conversation and then in the middle and in open court said, “Counselor, if you continue to proceed with this discussion I will hold you in contempt.”
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