Banks created the Mortgage Electronic Registration System to save themselves a boatload in fees by keeping mortgage transfers off the books of local governments. Now, a New York judge says the whole system violates state law, a…
When the state tightened its foreclosure rules in response to the document crisis, it ordered the six largest servicers to explain why they should be allowed to continue foreclosing on homes. In effect, their response went some…
U.S. Bankruptcy Court Judge Martin Glenn denied Wells Fargo’s request for permission to foreclose on Tandala Mims’s house in the Bronx for a second time on Thursday because he still wasn’t satisfied that Wells — as opposed to…
Most people raising the issue of false mortgage documents are homeowners facing foreclosure. And banks often respond that botched paperwork is a mere technicality — nothing to worry about. Then you find a case like Wells Fargo…
The mortgage industry has created a system meant to simplify the handling of loan documents. Instead, it’s legally shaky, makes tracking mortgage-note ownership extremely hard and may wind up throwing into doubt who actually co…