He responded with this breathless and breathtaking list of failings (slightly edited for publication): The things I think are critical and badly underreported are: 1. The astonishing amount of mortgage fraud (literally, millions of cases annually) and how it hyperinflated the bubble … Continue reading
But the banks’ “paper problem,” is a “small sub-issue,” relative to the fact there are still $2.7 trillion of residential mortgage-backed securities (RMBS) on the banks’ balance sheets, Alpert says. “Banks are not exactly rushing to foreclose on anyone given … Continue reading
Foreclosure activity may be halted entirely and give homeowners time to coordinate better options for keeping their homes as a result of lenders’ improper foreclosure procedures. As some courts have now ruled against lenders in the robo-signing and MERS cases, … Continue reading
At stake is the ability of homeowners to challenge foreclosure attempts by banks. Recently, several large banks have had to halt foreclosure proceedings in many states when it emerged that their loan officers had taken short-cuts to speed foreclosures. Ordinarily, … Continue reading