In the News
"The Supreme Court erred in granting the plaintiff's motion for summary judgment on the amended complaint. "In a mortgage foreclosure action, a plaintiff has standing where it is both the holder or assignee of the subject mortgage and the holder or assignee of the underlying note at the time the action is commenced."
"Moreover, although there was evidence that MERS assigned the mortgage instrument to the plaintiff during the course of the action, such an assignment would not render the plaintiff the holder of the note, since MERS could not transfer that which it did not hold."
"As previously discussed, Chapter 51 of the Texas Property Code defines a mortgagee to include a book entry system such as MERS. TEX. PROP. CODE§ 51.0001(4)."
"MERS does not, however, hold any beneficial interest in the deeds of trust, and it is not a beneficiary of the deeds of trust. It is merely an agent or nominee of the beneficiary. The false assertion of a legal right in property where none exists may constitute a fraudulent lien or claim against real estate in violation of Section 12.002 of the Texas Civil Practice and Remedies Code....
It's fair to say that Bank of America (NYSE: BAC ) is the pariah of the banking world. It found itself at the bottom of the heap in a J.D. Power survey of mortgage customers; it was the worst-performing bank on last year's American Customer Satisfaction Index; and the industry publication American Banker recently announced that it has the lousiest reputationamong both customers and noncustomers of any large lender in the country.
But I was nevertheless surprised at the outpouring of vitriol that our readers heaped on the nation's second-largest bank by assets in a series of articles that I've written of late. In one detailing allegations of abuse under the 2009 Home Affordable Modification Program, or HAMP, readers lambasted the bank for a multitude of slights. "If [Bank of America] were a person it would be in prison," one reader noted. "I hate that my mortgage was sold to these scumbags," says another. And a third expressed the opinion that "[Bank of America] should be shut down for fraud and cheat."...
- Jeff Olson Found Not Guilty On All Charges, Dodges Punishment For Anti-Bank Chalk Protest
- US banks use taxpayer $ to pay lawyers - Yahoo! Finance New Zealand
- Who's Paying For Citigroup's $968M Fannie Mae Settlement? You Are - Forbes
- Worst of principal forbearance losses limited to Ocwen, Nationstar? | HousingWire
- Nationstar's business strategy: Big risks mean great rewards | HousingWire
Page 96 of 965