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Stan Burman:

Good blog post by Neil Garfield discussing the Uniform Commercial Code and the Truth in Lending Act as well as the bias in some Courts.

Originally posted on Livinglies's Weblog:

Our legal history has many examples of enormous errors committed by the Courts that were obvious to some but justified by many. The result is usually mayhem. The cause is a bias toward some underlying fact that was untrue at the time. Some examples include
  1.  the infamous Dred Scott decision where the Supreme Court ruled that a black man is not a person within the meaning of the constitution and therefore could not sue to protect his rights because he was not a citizen by virtue of the FACT that his ancestors had been brought to America as slaves. The underlying bias was considered axiomatically true: that “negroes” were fundamentally subhuman. It took a civil war that took 500,000 casualties and a constitutional amendment to change the results of that decision. We are still dealing with lingering thoughts about whether the color of one’s skin is in any way related…

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Stan Burman:

Good blog post from the Clouded Titles blog on forensic loan audits and their limitations. Every homeowner in foreclosure should read this blog post.

Originally posted on Clouded Titles Blog:

The author of this post conducts forensic examinations and chain of title assessments at the request of homeowners, when necessary, for use in case development. This posts seeks to clarify today’s issues in a world of “promises” that mislead homeowners.  It also seeks to identify issues where foreclosure defense law firms are also being targeted because of their involvement with such audits.  The author is also a consultant to attorneys on various mortgage foreclosure defense issues. 

It is no secret that tens of millions of homeowners got into trouble with predatory home mortgages.  Tens of millions of them have MERS-originated Mortgages.  If you asked the average mortgagor on the street if they knew what a “MERS-originated Mortgage” was, they couldn’t tell you.  They don’t know because they weren’t told at closing that the “funds” they were receiving to buy their (generally over-appraised) home may NOT have come from the source named…

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Ocwen Violated TCPA With 218 Calls, Fla. Jury Finds

Originally posted on Justice League:

What else is new…

Law360, Los Angeles (September 23, 2015, 11:01 PM ET) — A Florida federal jury found on Wednesday that Ocwen Loan Servicing Inc. violated the Telephone Consumer Protection Act by making 218 unauthorized calls to a woman’s cellphone in an alleged attempt to collect a mortgage loan debt that had been discharged in bankruptcy.
The jury unanimously decided on the third day of trial that Ocwen willfully or knowingly violated the TCPA by making the calls with an automatic dialing system to Rolena Drew. Ocwen allegedly called Drew’s cellphone multiple times per day and on back-to-back days.

The plaintiff claimed the roughly $92,500 delinquent debt that Ocwen was trying to collect had previously been discharged in Chapter 7 bankruptcy. Ocwen claimed it hadn’t known the debt had been discharged and would have handled the matter differently had it known.

Read on.

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Stan Burman:

That foreclosure mill law firm must be getting worried to have sent that letter. Either that or they just like to bluff by sending “boilerplate” letters like that one in an attempt to intimidate the recipient of the letter.

Originally posted on Clouded Titles Blog:


(OSCEOLA COUNTY, FLORIDA) — In what appears to be a “cut and paste” and “fill in the blanks” form type of Correspondence from Gilbert Garcia Group, P.A., one of the alleged suspect “actors” that was named in the OSCEOLA COUNTY FORENSIC EXAMINATION has sent a letter, dated September (fill in the blank, handwritten), 2015, ordering the Clerk to remove the Forensic Examination conducted by DK Consultants LLC and all related links to the website, including the Clerk’s warnings about committing document fraud on the land records, under threat of libel per se.

The letter also acknowledges that the Report contains “unsupported defamatory rumors about the Gilbert Garcia Group, P.A. and other law firms actively engaged in default servicing and foreclosure litigation.”  The Circuit Clerk of Osceola County, Hon. Armando Ramirez, vows to take this fight all the way to the Department of Justice in Washington and has asked…

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The Foreclosure Crisis

Stan Burman:

Excellent blog post on the foreclosure crisis.

Originally posted on Rcooley123's Blog:

What happened to all the homes foreclosed on when the housing bubble burst? Millions of people lost their homes and most of their life savings when the value of their homes plummeted during the most recent financial collapse. Many found they could not keep up with mortgage payments, either because they lost their jobs during the recession or because they were overextended financially for some other reason. Some would say many never should have been offered the loans in the first place. The fact remains that many people went from pursuing the “American Dream” of home ownership to struggling just to keep a roof over their heads by renting in a very short span of time.

The banks lost tons of money on loans that would never be paid in full, but they did have something very tangible in place of the money – the property. The real estate still…

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The Real Problem in the Wall Street Crisis

Stan Burman:

Another good blog post by Neil Garfield.

Originally posted on Livinglies's Weblog:

see Anh N. Tran, et al. v. Bank of New York COMMENTARY Mortgage Securitization and Lender’s Ability to Foreclose_SRCH

A fairly well written and well-reasoned article. But absent from the article is the fact that homeowners are not just asserting some technicality. If the Trust actually paid real money for a legally binding loan contract with an enforceable promissory note and enforceable mortgage then it would seem to be the kind of internal affair that some courts have tried to fashion by reading the word “voidable” into a statute that clearly says “void.”

But if there was no transaction and the Trust stands to lose nothing by losing a case in which it had no standing, ab initio, then you would find the same courts — that are looking for a way out of the void transaction — instead accepting the idea that the whole thing was a sham transaction…

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Stan Burman:

Great blog post from the Clouded Titles blog regarding the right time and the wrong time to file a quiet title action.

Originally posted on Clouded Titles Blog:

This op-ed piece is not legal advice, just the poster’s observations!

Within the last few months, I’ve been receiving emails and phone calls from people who are either contemplating filing a quiet title action to clear title to their property or have actually filed one and are wondering if they did the right thing.

I say (in non-lawyer-like fashion), “It depends on what attorney you talk to.”

Many attorneys across the country have won numerous quiet title actions, trespass to try title actions and suits to remove a cloud; however, this quasi in rem realm now supports a different type of quiet title action … those involving securitized mortgages, which mean the involvement of Mortgage Electronic Registration Systems, Inc. (MERS).  There are few attorneys that understand quasi in rem actions and fewer have not won them let alone satisfactorily addressed them in a court of law or of equity.


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