Michael Olenick: Mortgage Industrial Complex Continues Its Push Against Rule of Law
By Michael Olenick, creator of NASTIACO, a crowd sourced foreclosure document review system (still in alpha). You can follow him on Twitter at @michael_olenick or read his blog, Seeing Through Data
The meaning of the word “chutzpah” varies by context. In criminal court, it might refer to murdering one’s parents then asking for leniency because the perpetrator is an orphan. In family court, it might be invoked when abandoning a child, then pleading the child has been alienated from the parent who left.
We now have a property court usage: perpetrating a massive, well documented fraud then complaining that court bottlenecks – which exist solely because of fraud perpetrated by bank lawyers – cause expensive delays. An Oct. 9 article published by Lord, Whalen, LLC “Tail Risk: Kamala Harris Declares War on Lenders, Loan Servicers in CA,” sets forth this nervy argument.
Bank maven Chris Whalen’s analyses are normally top notch but he seems to have fallen under a Svengali spell of the parasitic foreclosure support industry – particularly foreclosure mill lawyers. Like fingernails drawn against a blackboard, foreclosure attorneys, analysts, and even the FHFA relentlessly rant that judicial foreclosure must be eliminated, and that recent legislation expands judicial foreclosures.
Rest here…
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