NY Times – How the Banks Put the Economy Underwater

Extremely well written, seamless narrative that reads like a script for a special Halloween episode of American Greed ~ This excellent editorial helps make the point that a national moratorium is the only just solution.  Criminal investigations, indictments and imprisonment will go a long way towards helping our country recover.  Allow the economy to recover … Read more

Kenton Kentucky Court Order – Foreclosure Complaints Must be Accompanied by Note and Recorded Mortgage with ALL Allonges, Endorsements, and Assignments

Kenton County’s order will have a wide ranging impact on mortgage servicing clients, including timelines relating to the filing of first legal action in Kenton County, with many other counties throughout the Commonwealth expected to follow suit. The order requires all foreclosure complaints in Kenton County to be accompanied by an affidavit certifying that the … Read more

Naked Capitalism – JPMorgan Chase Plays Fast and Dirty in Florida Loan Mod Waiver

I received this document the other day as well but haven’t had a chance to get to it until now… Since Yves over at Naked Capitalism already did a post on it, why recreate the wheel… JP Morgan Chase Plays Fast and Dirty in Florida Loan Mod Waiver I’ve harbored the sneaking suspicion that JP … Read more

Loan Mod Lies – WAPO – Amid mortgage mess, owners blindsided

Look, it is this simple. All those trial payments you make go into suspense accounts. During the time you are making the payments, late fees are adding up, you are being reported late to the credit agencies and the amounts reduced in your payments are adding up as well. For example, you had an original … Read more

The Market Ticker – MERS Catfight in DC: Parse This One Carefully

MERS Catfight in DC: Parse This One Carefully Heh heh heh…. A noteholder’s security interest in a DC home should normally be reflected in the public land records maintained by the District’s Recorder of Deeds. Under District law, in contrast to the laws of many states, each deed or other document transferring a mortgage interest … Read more