no – not that Cheryl.

Unfortunatly the last five years were all based on fruadulant transactions so I wouldn’t argue with you that you know the “terminology”.

Just because that is the terminology, it does not make it legal.

They got away with it for that long and now it is all starting to collapse.

I know that it’s a common name but are you that Cheryl? If so, you’re like a celebrity here.

As stated previously – I’m not speaking to the legitimacy of the company in question only to the terminology that has peoples knickers in a twist. Having spent the last 5 years looking at mortgage documents and speaking with lawyers, title companies and county recorders – I think I’m pretty well educated on the terminology.

Psst… Have you clicked any of the links in this post about DOCX to educate yourself before making such an uneducated comment?

I think you should before you make another….

For example: you need the bank to provide you with an old credit card stmt so you can prove you paid for something. They would be RECREATING your statement for you. You had the only original and lost it – now they have to go into their digital storage system and print it out again.

Cure is a legal term that is pretty much the same for mortgage transactions as it is for medical situations. If you don’t sign your docs correctly at closing – the CURE is for the bank/mtg company to send you new documents to sign. There are various cures for various situations. None of them illegal.

But why focus only on foreclosure cases? Clearly, the clouded title chains and assignment fraud are not the result of foreclosure proceedings.

Rather they are embedded in the securitization process as a whole. In other words, all notes and mortgages that were securitized since 2005 or earlier contain faults in their title chain and have been subject to illegal conveyances.

Obviously this creates problems for foreclosures as lenders cant prove legal standing. But that endemic problem has implications for all Notes, not just the delinquent ones.

What about PERFORMING notes? Cant non-delinquent borrowers request proof that current lender is rightful owner of note thus having a legal claim over mortgage payment? If the lender or servicer cannot prove ownership or adequate / legal assignment, can not the borrower stop making all payments until title chain is free and clear?

The real question is … why is Wall Street not reacting more than it is? Technicality or not, it seems to be believing that it wont have a material adverse impact.

If performing notes are also impacted … would that still be true?

One of the guests recommended buying LPS because (in his words)…
“with all the robo-signers, the foreclosure mills stock will tank, and the lenders will need to get paperwork done someplace… so I predict that the stock will raise by 40%.. this makes it a WINNER in my book.” (end quote)

WOW, REALLY???!! So Investors should take their money out of one corrupt organization and place it into another corrupt entity!

Is this MIND NUMBING to anyone else?????????????????????????????????????

Gotta love the greed and corruption that is Wall street and all the lovely corporations and banking institutions!