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

Basic Foreclosure Litigation Defense Manual

Random Repost Blast from the Past. Going to start off each day with a random repost from the archives… Enjoy! Basic Foreclosure Litigation Defense Manual 4closureFraud

Stratigic Default – Finally: Mainstream Press (Intentional Defaults)

Posted by Karl Denninger The Market Ticker I have written about “strategic defaults” many times in The Ticker, with the most recent being right here: Therefore, until the law is changed to prohibit the use of said “Strategic” legal containers and the resulting option of business interests – including the banks that are complaining now – to … Read more

The Equilibrium Distribution of Prices Paid by Imperfectly Informed Customers in the Mortgage Market

This document made my brain hurt. Anyway, good info… Consumers often transact with imperfect information about the best price available for a product. Some examples are mundane, a grocery shopper does not know the price of Kleenex at every other nearby grocery store. Others are more substantial, such as the best available price for a … Read more

MBA Files 2 “Comment Letters” with Federal Reserve on Proposed TILA Changes

On Tuesday, December 22, 2009, the Mortgage Bankers Association (MBA) filed 2 comment letters with the Board of Governors of the Federal Reserve System, both relating to the proposed amendments to Regulation Z, the implementing regulation for the Truth in Lending Act (TILA). The first letter specifically addresses the proposed rules to revise consumer disclosures … Read more

Federal Reserve Bank of New York – The Home Ownership Gap

Homeownership is often thought of as an integral part of the American dream, and encouraging homeownership has historically been an important feature of U.S. public policy. Figure 1 provides a time series of the aggregate homeownership rate published by the US Bureau of the Census. After rising for a decade, the homeownership rate peaked at … Read more