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 … Continue reading

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 1-561-880-LIES Florida Foreclosure Defense Law Offices of Carol C. Asbury http://www.FightTheBanksNow.com

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 … Continue reading

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 … Continue reading

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 … Continue reading

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 … Continue reading

Judges Dominate Group’s Year-end “Restore Integrity Award”

The grassroots good government and legal reform advocate known as POPULAR, Inc. (POPULAR) announced the year-end recipients of its bi-annual “Restore Integrity Award”. The award program administrators state “we are delighted that judges comprise half of our year-end award recipients,” noting “judges Lackey, Schack, and Spinner resisted powerful private interests without waiting for a groundswell … Continue reading

“Trashed Out” Las Vegas Woman Victim of Foreclosure Mistake

This madness needs to stop. It’s one thing for these pretender lenders to take properties through illegal foreclosures. Now they are maliciously breaking and entering into any homes they wish with disregard of the laws. No better than common criminals… December 21, 2009 LAS VEGAS —  A Las Vegas woman says she is the victim … Continue reading

Bankster Lobbyists Launch ‘Call To Action’ To Crush Financial Reform

Bank Lobbyists Launch ‘Call To Action’ To Crush Financial Reform CEO Alert December 15, 2009 TO: Bank CEOs FROM: Art Johnson, ABA Chairman RE: Regulatory Reform – An Update and a Call to Action On December 7, I sent you a “Halftime Report” in which I said ABA thought the House would pass narrowly the … Continue reading

“Pretender Lender” IndyMac Defies Court Order in Yano-Horoski Case!!!

Indy Mac claims $474,936.78 still is owed two weeks after Justice Jeffrey Spinner ordered the mortgage canceled. Source: Judge orders parties back to court in mortgage case (requires paid subscription to Newsday) Fri 11 Dec 2009 The state Supreme Court justice who last month lashed out at a bank’s dealings with an East Patchogue family … Continue reading

Toxic Titles – “Pretender Lenders” Walking Away from Foreclosures

Governor Elizabeth A. Duke At the Community Stabilization Symposium, NeighborWorks Training Institute, National Harbor, Maryland December 9, 2009 Keys to Successful Neighborhood Stabilization “Communities with weak underlying economies are characterized by a long trend of population loss, gradual impoverishment, and strained municipal resources. For cities like Cleveland, Detroit, and Indianapolis the increase in foreclosures over … Continue reading

MORTGAGE ELECTRONIC REGISTRATION SYSTEMS, INC., Appellant, v. LISA MARIE CHONG, LENARD E. SCHWARTZER, BANKRUPTCY TRUSTEE

MERS SMACKDOWN in NEVADA!!! Dist. Ct. Case No. 2:09-CV-00661-KJD-LRL Bankr. Ct. Case No. BK-S-07-16645-LBR “This appeal arises from eighteen cases in which MERS filed motions for relief from stay in the Bankruptcy Court. In each case, either a party or the Bankruptcy Court raised the issue of whether MERS had standing to bring the motion.  … Continue reading

A New Foreclosure Tactic – Lenders / Debt Collectors Holding Second Mortgages Freeze Bank Accounts

Priority? What’s That? “If you wondered how ugly things would get in terms of lenders ignoring priority (after the government wantonly did so) here’s your answer: “A new foreclosure tactic, whereby lenders or debt collectors holding second mortgages freeze bank accounts or garnish pay checks of already struggling homeowners, is emerging and making it even … Continue reading

Countrywide Home Loans, Inc. v Gress

NY APPELLATE DIVISION FORECLOSURE MILLS JUST DON’T GET IT Countrywide Home Loans, Inc. v Gress 2009 NY Slip Op 08989 Decided on December 1, 2009 Appellate Division, Second Department Published by New York State Law Reporting Bureau pursuant to Judiciary Law § 431. This opinion is uncorrected and subject to revision before publication in the … Continue reading

Uniform Commercial Code, UCC – The Note, The Transferee and the Wardrobe

“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 delivery of the instrument itself to the transferee. The key issue is transfer. Defense counsel must identify the circumstances … Continue reading