Mortgage & Foreclosure
Whether you’re defending a foreclosure, modifying a mortgage or protecting your client against illegal actions or fees, this seminar is for you.
Especially important in light of the recent SCOTUS decision regarding lien stripping, new RESPA and TILA rules took effect in January 2014, imposing significant new obligations on mortgage servicers. These rules have proved to be very powerful for mortgagees and if you’re still not familiar with the rules, now is the time to be. You simply can’t wait any longer! Max, Bobby Rivera and Jay Patterson are teaming up to make sure you have the tools and knowledge necessary to enforce your clients’ rights under these regulations, hold mortgage companies to the letter of the law and maximize recovery. They will take the mystery out of loan modifications, covering every angle, including published and non-published guidelines of Fannie, Freddie, FHA, FDIC, DOJ and MHA.
Special attention will be given to the new Loss Mitigation Rules and what Max refers to as the new “120 day Loss Mitigation Stay” on Judicial and Non-Judicial foreclosures.
For our January Seminar, Max will spend less time on some of the topics below and concentrate on the Regs he believes is most important for you to understand. In addition, he will provide you step-by-step details on drafting RFI’s, NOE’s, Discovery & Complaints.
Foreclosure & Mortgage Litigation Boot Camp
After introducing the program and his guest speakers, Max leads with a discussion of the Mortgage Bankers Association’s presentation on combating Boot Camp attorneys and what this tells us about arguments to expect from the other side and how to respond.
Then, Dick Shepherd leads a discussion (with contributions from all speakers) on securitization and servicing that includes:
- the basics of securitization,
- document custodians and the custodial file,
- the players in the securitization process,
- what Jay Patterson can uncover and how to use it,
- Fannie/Freddie history and status,
- QWR changes,
- adding Fannie/Freddie as a party to your case,
- REMIC structure and tax benefits,
- loan documents to look for in F/F deals,
- payment application issues as pressure point for modifications,
- accounting systems,
- what’s in the note and Deed of Trust,
- impact of servicing standards under the AG settlement, and
- requests for information.
Jay Patterson walks through an MSP life of loan transaction history and the panel discusses the information contained in evaluation reports from rating agencies, what to ask for in discovery, the importance of looking at computer records, new QWR standards and using requests to admit.
An in-depth discussion follows of the negotiability of mortgage notes, uniform documents, relevant case law, applicability of Article 3 and Article 9, standing, terminology under the law, actual transfer processes/endorsements/allonges, the accuracy of loan schedules, chain of title, delivery requirements and the practical upshot of all of these issues.
Max discusses the servicing standards set forth under the AG settlement at some length and how these open doors. Then, all attorneys join in a discussion of the practical application of the strategies and issues discussed and how each approaches them in his/her practice.