MERS Dissected

The most recent edition of the Cardozo Law Review includes an in-depth analysis of MERS and the legal challenges to its foreclosures, including an interesting parallel to 15th-century mortgage abuses and the protections that evolved as a result. Modern foreclosure law developed as a response to the traditionally harsh consequences borrowers faced if they failed to pay their loans on …

More Details on Our New UCC Seminar

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 …

Q & A With Max in Charlotte Observer

Nice write-up on the Boot Camp and the upcoming Memorial Day session in Charlotte in today’s Charlotte Observer.  The article includes an interview with Max, along with some Boot Camp history. Q. What would you say to the argument that this is just a technicality, that these people are behind in their payments, that they deserve to be foreclosed on, …

New York Attorney General Investigates Mortgage Securities Operations

New York Attorney General Eric T. Schneiderman has reportedly requested documents and information from and asked for meetings with three major banks as part of an investigation into those banks’ mortgage securities operations.  The New York Times is saying: The requests for information by Mr. Schneiderman’s office also seem to confirm that the New York attorney general is operating independently …

Bad Securitization Stops Foreclosure

Sometimes a short, simple statement thunders more loudly than a rousing speech. So it was earlier this week, when an Alabama judge issued a brief order declaring that because of faulty securitization, the trust created to hold the defendants’ loan (and others) couldn’t foreclose on the loan.  Abigail Field at Daily Finance analyzes the case in more detail in Court: Busted …