Mortgage Doomed to Fail – Judge Allows Suit to Proceed Against Bank of America and Attorneys Accused of Facilitating Mortgage Doomed to Failure

New York Law Journal February 01, 2010 A Brooklyn judge has allowed an action to go forward against two attorneys and others who are accused of facilitating a $629,000 mortgage for a waitress who earned less than $25,000 a year. Plaintiff Portia Joseph alleged Brooklyn attorney Adrian A. Ellis, who represented her in connection with … Read more

DOES ASSET BACKED SECURITIZATION MEAN NO NOTE?

Questions??? Is asset backed securitization the transformation of a single note into multiple pieces? Do these pieces act like a waterfall of cash flow? Are they then distributed as investments, structured finances, accruals, accretions and cash flows set forth into many classes of offerings? If you take a dollar bill and slice it up and … Read more

ALERT – Florida Banksters Move to Dramatically Speed Up the Foreclosure Process by Changing FL to a NON JUDICIAL STATE

If bankers get their way, Floridians facing foreclosure could be kicked out of their homes in as little as three months. The Florida Bankers Association, the 400-member-strong lenders’ lobby, has presented state legislators with a bill to upend decades of Florida law and establish “non-judicial” foreclosures in Florida by July 1. What’s a non-judicial foreclosure? … Read more

Judge Rules in New Orleans – EFFECTS WILL BE FELT IN FLORIDA

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Deutsche Bank National Trust Company, As Trustee for FFMLT 2006-FF13, Plaintiff, v. Terry A. McRae a/k/a Terry McRae, et. al., Defendants.

Decided on January 25, 2010 Supreme Court, Allegany County Deutsche Bank National Trust Company, As Trustee for FFMLT 2006-FF13, Plaintiff, v. Terry A. McRae a/k/a Terry McRae, et. al., Defendants. By way of the September 8, 2009 Order, this court previously determined that Plaintiff lacked standing, because it failed “to submit evidence of proper assignment/delivery … Read more