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Monthly Archives: February 2012

Florida Fair Foreclosure Act? Fair to Whom?

Banks need to get their massive foreclosure backlog off the books. There are over 368,000 cases in Florida. I get that. Getting these properties into the hands of families who can afford them, that is what I want to see. It’s needed to jump start the economy, and no one wants to see the banks out of the neighborhoods more […]

MERS is Dead! Humpty Dumpty Won’t Be Put Together Again!

Humpty Dumpty has had his great fall, thanks to an outstanding bankruptcy judge who has all but dismantled the Mortgage Electronic Registration System (MERS) thanks to his recent ruling.‪​‪ Last week New York Judge Robert Grossman ruled that all of MERS’ business practices are illegal. It’s a staggering blow to the banks and their endless efforts to circumvent due process. […]

Settlement Or No Settlement; Homeowners You Must Stand Your Ground!

If there was anything positive that came out of the prolonged discussions between the states and the banks on the mortgage servicing settlement, it was that banks were reluctant to go full steam ahead in the foreclosure process while talks were ongoing. But even before the settlement was announced, we saw signs that pointed to more foreclosures in 2012. According […]

Friday Round-Up — Settlement Docs Weeks Away, Donovan Hopes Fannie and Freddie Come Around; Citi-Bank Settles Suit; Bank Approves Loan Modification, Then Forecloses

Fri Feb 17, 2012 by on Bank Fraud & Florida Foreclosures

AGs Weeks From Filing Foreclosure Settlement Documents Yesterday we expressed concern because we have yet to see the formal documents behind last week’s landmark $25 billion settlement, and it seems few people actually have. HousingWire reports, through an unnamed source, that federal prosecutors plan to file them in court by the end of the month. But of course herein lies […]

Fannie Mae and Freddie Mac: Past Their Prime

Wed Feb 15, 2012 by on Florida Law News

There were two players conspicuously absent when last week’s $25 Billion settlement was unveiled; two players that absolutely should have been front and center. What are their names? If you’ve followed the housing crisis as closely as we have, then you probably know. Our old and unwanted cousins Fannie and Freddie. Their omission from the settlement was perhaps its biggest […]

Robosigning Settlement Proves Sky Was Falling! Chicken Little Was Right!

Fri Feb 10, 2012 by on Bank Fraud & Roy Oppenheim

Yesterday’s robosigning settlement that all but one state ultimately signed off on, was far from perfect. Let’s make that perfectly clear. Depending on what you have read, you might be outraged, you might be relieved, you might be overjoyed. And the target of your wrath or sympathy might depend on your own personal perspective. But make no mistake about it, […]