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The reason the dockets are 'crowded' is because nearly 1/2 of all federal cases are about illegal aliens. That seems more significant than the number of judges we have.
Commented Mar 15, 2012 on Senate Deal Allows Confirmation Votes for 14 Judicial Nominees at The BLT: The Blog of Legal Times
Senate Deal Allows Confirmation Votes for 14 Judicial Nominees
After months of backlog and partisan recrimination, Senate leaders reached an agreement to move forward with judicial nominees this afternoon that assures 12 federal district court judge picks and two circuit court selections will get confirmation votes before the summer. Majority Leader Harry...
Most Peculiar, Momma -
The courts are ignoring the Legislature's concern over 'public interest' as the 3rd party to every deed of trust loan. The public interest has a right to be able to determine ownership of a property from public records. The public interest has a right to determine liens against properties in which it may have a legal or fiduciary interest. The borrower has a right to have a clean title history available for the public in order to receive the maximum bid in the case of foreclosure.
A ticking time bomb will be when a foreclosee realizes that 2932.5 mentions 'other encumbrancer', and as it does not apply to deed of trust loans, apparently they aren't encumbranced. If they aren't encumbranced, how can power of sale be invoked?
Strange days, indeed!
Commented Feb 29, 2012 on Pushback on the San Francisco City Assessor-Recorder Foreclosure Audit at Credit Slips
Pushback on the San Francisco City Assessor-Recorder Foreclosure Audit
Not surprisingly, there's been some attempts to downplay the significance of the SF City Assessor-Recorder foreclosure audit. The attacks have come in three flavors: questions about the auditors' own background; questions about the accuracy of the report; and the "who cares, as these are just l...
Even if you have the lender show up with a 'blue ink' promissory note the Fat Lady hasn't sung yet.
When you look at the procedure to extract a defaulted loan from the pool, you may see that if the loan has mortgage insurance, it is declared 'paid in full'. In other words, a third party interest has paid off the note, and there is no contract remaining. The court should just hand you your note, find for you, and say ... "next case".
Commented Sep 26, 2011 on Standing to Invoke PSAs as a Foreclosure Defense at Credit Slips
Standing to Invoke PSAs as a Foreclosure Defense
A major issue arising in foreclosure defense cases is the homeowner's ability to challenge the foreclosing party's standing based on noncompliance with securitization documentation. Several courts have held that there is no standing to challenge standing on this basis, most recently the 1st Circ...
To Indio-
It would in California. Recent Appeal case Gomes v. Country Wide.
“Nowhere does the statute provide for a judicial action to determine whether the person initiating the foreclosure process is indeed authorized, and we see no ground for implying such an action,” wrote Irion, who was joined in her decision by the two other judges on the panel.
Asking MERS to demonstrate it has the right to foreclose “would be inconsistent with the policy behind nonjudicial foreclosure of providing a quick, inexpensive and efficient remedy” and would allow lawsuits to delay foreclosures, the judge wrote.
Commented Mar 7, 2011 on Securitization Chain-of-Title: The US Bank v. Congress Ruling at Credit Slips
Securitization Chain-of-Title: The US Bank v. Congress Ruling
Over on Housing Wire, Paul Jackson is crowing that chain-of-title issues in mortgage securitization are overblown because an Alabama state trial court rejected such arguments in a case ironically captioned U.S. Bank v. Congress. But let’s actually consider whether the opinion matters, what the c...
Not good enough. He and his family still have a roof over their heads.
He has clouded title and reduced the equity of 10's of thousands of homes that won't be discovered until the homes are sold or paid off and original note can't be found to get title insurance.
Commented Feb 3, 2011 on California settles with Countrywide executives at Money & Company
California settles with Countrywide executives
California has reached a $6.5-million settlement with two former Countrywide Financial Corp. executives that the state had accused of predatory lending. The state will create a foreclosure relief fund for troubled borrowers with part of the money, Attorney General Kamala D. Harris said Wednesday...
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