Return regurally for the latest articles and featured reprints from some of the most authoratative sources in the foreclosure defense and banking industry.
State AGs target mortgage mess
America’s free markets work only when there is one set of rules for everyone — and everyone plays by those rules.
It is now clear, however, that many in the mortgage finance industry ignored the rules over the past decade. This led to a breakdown in our housing market and in the market for mortgage-backed securities.
MERS COUNTY CLERK LAWSUIT
County and state officials are turning up the heat on MERS, as recent lawsuits filed in Florida and Delaware challenge the validity and accuracy of the mortgage industry-controlled loan registry.
The most recent lawsuit was filed by a county clerk in Florida, and seeks class action status to represent the state's 67 counties. The complaint alleges the use of MERS does not comply with state property laws and has cost municipalities millions in unpaid recording fees.
California Dems blast Obama on Foreclosure Crisis
(Carolyn Lochhead, Chronicle Washington Bureau)
Washington -- California House Democrats ripped the Obama administration Wednesday for inaction on home foreclosures, saying the president could pass all the jobs bills he wants but that won't fix the economy until the housing sector recovers.
Gloom Grips Consumers, and It May Be Home Prices
ORLANDO, Fla. — Ernest Markey lost his stone-cutting business in 2009. He then sold his home for half a million dollars less than its value at the peak of the housing bubble and moved with his wife, Marie, to a smaller home in a less affluent suburb. They gave up two new cars and bought one. Used.