The (Cases) of The Faulty Default Letters Going to Trial- BANKS CANNOT WIN TRIALS WHEN THEY IGNORE THEIR OWN CONTRACTS

The issue is very clean, crisp and simple. The banks produced the contracts they wanted to rely upon. They made them long and detailed; they contained page after page and provision after provision….and nearly every one of those provisions were intended to protect the banks. Surprise, surprise, they didn’t spend too much time and energy drafting contracts that would help the consumer….right?

So, the banks….through Fannie Mae and Freddie Mac, all get together and draft a uniform document…the terms in virtually all Florida mortgages are exactly the same.

But here’s the problem….the banks forgot to read their own contract when they set up the third party vendors who sent out their default letters. And in a case study in colossal corporate blunders, the banks used one default letter that was sent out both to judicial states and non-judicial states.

The issue here is real simple….the banks drafted the contract, they must adhere strictly to the terms of that contract…..and……

THE DEFAULT LETTERS THEY SENT OUT DO NOT COMPLY WITH THE CONTRACT THEY DRAFTED

Rest from Weidner here…

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