LPS’ April Mortgage Monitor Report: Stabilization Clouded by Elevated Pool of Distressed Loans and Rate of New Delinquencies

90-day Default Rate Stable; Eight States Still Exceed Foreclosure Inventory National Average JACKSONVILLE, Fla., June 1 /PRNewswire-FirstCall/ — The Mortgage Monitor report released today by Lender Processing Services, Inc. (NYSE: LPS), a leading provider of mortgage performance data and analytics, indicated that signs of stabilization in the nation’s home loan delinquency and foreclosure rates remain … Read more

M E R S Training Bulletin – Re: Identifying Investors on MERS® System

This should make the whole game of hide the note much more interesting… Number 2010-05 To: All MERS Members May 26, 2010 Re: Identifying Investors on MERS® System MERS® System Release 19.0 on June 14, 2010, will include Phase II of MERS® InvestorID. Phase I was introduced on June 19, 2009, to help our Members … Read more

Humpty Dumpty is Broken – The Secured Debt

We need to look at this issue with secured debts, like Humpty Dumpty. The rhyme does not explicitly state that the subject is an egg because it probably was originally posed as a riddle. HUMPTY DUMPTY – The Secured Debt We shall include Fannie Mae as Fannie Mae and Freddie Mac are brother and sister … Read more

Enough is Enough – Owners Stop Paying Mortgages, and Stop Fretting

From the lenders’ standpoint, people who stay in their homes without paying the mortgage or actively trying to work out some other solution, like selling it, are “milking the process,” said Kyle Lundstedt, managing director of Lender Processing Service’s analytics group. LPS provides technology, services and data to the mortgage industry. These “free riders” are … Read more

Excellent Appellate Brief on Assignments, Indorsements, Standing and MERS

STATEMENT OF THE CASE AND FACTS This appeal is taken from the Circuit Court’s decision to render Summary Final Judgment against the Appellant. The Appellate Court of Florida has jurisdiction to consider the issues raised in this appeal under authority of the Florida Rules of Appellate Procedure, Rule 9.130 et seq. The nature of the … Read more

Uniform Commercial Code, UCC – The Note, The Transferee and the Wardrobe

Random Repost. Blast from the Past. Going to start off each day with a random repost from the archives… “The Florida Uniform Commercial Code speaks of the transferable right of enforcement of the secured obligation, commonly referred to as the “promissory note”. Generally, the right of en-forcement of the promissory note is transferable only by … Read more