We now have the venues and pricing ready for our upcoming Seminar – The ABC’s and UCC—What You Need To Know About the UCC and Foreclosure Defense. You must attack the secured status of the Trustee of residential mortgage backed securitized trusts and you must challenge the mortgage servicer’s standing to foreclose. In order to make these types of challenges …
The ABC’s and UCC
Max Gardner’s Bankruptcy Boot Camp is proud to present an important seminar on the impact of the UCC on residential mortgage securitization and its effect on foreclosure defense. ABC’s In order for a residential mortgage to be properly securitized within a trust, the note needs to have been properly assigned by ALL parties to the transaction. In reality, this rarely occurred last decade …
Max on Nevada Public Radio
Max made an appearance on Nevada Public Radio this morning to talk about the leverage bankruptcy can provide homeowners facing foreclosure and describe some of the most common flaws in the transfer process and actions taken by banks and mortgage servicers to try cover up those problems or repair breaks in the chain of title after the fact. Michael Joe, an …
The full story of the Ibanez case
In pictures.
Boot Camp Graudate David Shaev Fights Fraud
David Shaev is featured in an article titled Why Paperwork Matters: Consider This Mortgage Mess. Judge Shelley C. Chapman, of the U.S. Bankruptcy Court for the Southern District of New York, has ordered HSBC and Litton Loan Servicing (a Goldman Sachs subsidiary) to send officers with some juice — and not low-level types — to her Manhattan courtroom on Feb. …
Why the Massachusetts Supreme Court Voided Two Foreclosures and What It Could Mean for Banks
By Marian Wang via ProPublica, Jan. 20, 2011. When Massachusetts’ highest court ruled against U.S. Bank and Wells Fargo earlier this month and invalidated two foreclosures, the decision was hailed by some as an important precedent for courts seeking to resolve foreclosure disputes. While the decision’s impact isn’t entirely clear, even Wall Street analysts who downplayed its applicability acknowledged its …
Who’s to Blame for the Mortgage Mess? Banks, Not Homeowners
Another excellent article by Abigail Field in DailyFinance. As the foreclosure crisis has escalated over the past several months, one overarching debate has been about who bears the most blame: homeowners or banks? After everything I’ve learned and written about the foreclosure mess, my verdict is: The banks are responsible for 90% of the problem, troubled homeowners 10%. Yes, every …
Past Rulings by New York Judge Schack Reached Ibanez-Like Conclusions
Via Naked Capitalism’s Yves Smith. In another blow to securitization industry efforts to minimize the recent Massachusetts Supreme Judicial Court decision in Ibanez (or perversely, spin it as a victory), some of Judge Schack’s earlier decisions come to conclusions similar to those of Ibanez. This confirms the view of Georgetown law professor Adam Levitin, who has argued that Ibanez has …
Banks Lose Pivotal Massachusetts Foreclosure Case
Big news today in the foreclosure world as reported by Bloomberg. The link to the actual decision is here. U.S. Bancorp and Wells Fargo & Co. lost a foreclosure case in Massachusetts’s highest court that will guide lower courts in that state and may influence others in the clash between bank practices and state real-estate law. The ruling drove down …
Is Kemp v. Countrywide The Case That Will Bring Down Bank Of America (And RMBS)?
Bankruptcy Boot Camp grad Bruce Levitt took the mind-blowing testimony of Linda DeMartini in Kemp v. Countrywide. The Zero Hedge Blog posted an article today asking whether it will bring down BofA and RMBS. He cites a note from Moody’s David Fanger. Check out the the post.