Subprime Mortgages Make a Comeback with a New Name and Soaring Demand

“It will allow its borrowers to have FICO credit scores as low as 500. The current average for agency-backed mortgages is in the mid-700s. Borrowers can take out loans of up to $1.5 million on single-family homes, townhomes and condominiums. They can also do cash-out refinances, where borrowers tap extra equity in their homes, up … Read more

Fidelity National Financial: Shocking Numbers Could Kill Title Insurer Merger

“This much seems clear: Premiums are growing fast, to $14.8 billion in 2017  from $9.4 billion in 2011, according to data The Palm Beach Post requested from an industry group, the American Land Title Association. That included more than $1.4 billion in premiums in Florida last year. Yet the share of premiums spent to cover … Read more

A MERGER OF FRAUDS: How LPS Came Back to the Fidelity Family Enterprise

A MERGER OF FRAUDS: How LPS Came Back to the Fidelity Family Enterprise This report is a rewriting and editing of a Delaware judge’s 75-page opinion and other commentator’s thoughts on the opinion issued in the subject litigation. It provides critical insights into the inner-workings of two of the prominent members of the Secondary Market … Read more

FL 2nd DCA: SPENCER v. DITECH FINANCIAL – Some-Evidence, No-Evidence Rule in Foreclosures

Are Florida’s Appellate Courts finally getting fed up with the lower courts allowing inadmissible evidence in foreclosure proceedings? Read Judge Salario’s Specially concurring opinion below, along with the full opinion attached and decide for yourselves. ~ ISAIAH L. SPENCER and SHATIKA L. SPENCER, V DITECH FINANCIAL, LLC CASE NO. 2D16-4817 ROTHSTEIN-YOUAKIM, J., Concurs. SALARIO, J., … Read more

702.12, F.S. – Florida Passes Bill to Stop Bankruptcy Debtors From “Having Their Cake and Eating It Too”

702.12, F.S. – Florida Passes Bill to Stop Bankruptcy Debtors From “Having Their Cake and Eating It Too” 702.12, F.S. – A new Florida law signed Monday will allow documents filed in federal bankruptcy proceedings to be admitted as evidence in foreclosure cases, barring homeowners who have agreed to surrender property in bankruptcy court from … Read more

New Front in MBS Litigation: Pension Funds Claim Ocwen Breached ERISA Duty

I know that there’s an obsessive, ‘My name is Inigo Montoya’ quality to my bringing a claim against mortgage servicers,” Miller said in an email, referring to “The Princess Bride” character who spent half of his life seeking revenge against his father’s killer. “I’m okay with that … The banks recovered and millions of families … Read more