The importance of data and the public sector’s need for cash is a marriage of convenience, and necessity. It just will be. (Annie Oakley calls it “natur’lly.”) In the not so distant future, pairing the two will be assumed; and there will be a short diversion in special asset training programs, where the “wise” will… Continue Reading
Tag Archives: database
MERS Playbill: Quick List of Legal Challenges
Posted in Market Trends, Technology (including Green Buildings)This weekend at the Regents meeting of the American College of Mortgage Attorneys, I’ll be joining Dick Goldberg* in a short presentation on MERS – the electronic note and mortgage registry used by @ 50% of all home mortgages and many commercial loan mortgages. Dick will touch on some of the legal challenges facing MERS,… Continue Reading
MERS Update – Legal Act Nears End; Political Fireball Looming
Posted in Market Trends, Technology (including Green Buildings)Much has been reported on the use of the MERS note and lien registry [Wikipedia] in the context of foreclosures – and whether the reliance upon the MERS registry in the foreclosure process is proper. Austin Kilgore with the National Mortgage News is following the MERS situation, and two reports by him last week (first… Continue Reading
Credit Crisis: MERS Under Intense Scrutiny; Will There Be a Federal Solution?
Posted in Market Trends, Technology (including Green Buildings)More on MERS, but reminding you that we need to separate the value & utility of technology from the use of it – The MERS structure is coming under intense scrutiny: – Christopher Peterson has written a paper outlining his perspective on the situation (abstract below); it has an interesting perspective – there is movement… Continue Reading
MERS Under Federal Regulator Scrutiny; But Technology is NOT the Problem
Posted in Technology (including Green Buildings)The hunt for "robo foreclosure" (or "robot foreclosure") lenders and servicers now has seeped out to an investigation of MERS, which is a database registry that keeps track of the owners of residential (and some commercial) mortgages. I was on the MBA committee that implemented MERS into the commercial mortgage (CMBS) space; so, I’m familiar… Continue Reading
Dodd Frank Act Watch: Proposed SEC Rule Points To Greater Transparency
Posted in Good Times for Lenders, Market Trends, Technology (including Green Buildings), Tough Times for LendersMany provisions of the Dodd Frank Act are what I call "delegated legislation" – where Congress authorizes Federal Regulators to craft regulations based upon broad principals or statements contained in the Act. (Here are two helpful summaries; and here is a time line on regulatory implementation of rules covering commercial real estate) One topic that… Continue Reading
Rating Agency Challenges: Wells Letter For Moody’s; New SEC Rule Addresses Conflicts of Interest; Post-Employment Limitations; and Loan Level Focus & Data Needed
Posted in Good Times for Lenders, Market Trends, Technology (including Green Buildings)Rating Agencies continue to be under a microscope. Here are two recent events, and two points that should be of interest: Moody’s Receives a Wells Letter Information Sharing Under New SEC Rule 17g-5 Addresses Conflicts of Interest Needed: Post-Employment Limitations On Rating Agency Employees Deserve Consideration; and Needed: Rating Agency Focus On Loan Level Fundamentals (Using… Continue Reading
Transparency Coming To Commercial Real Estate: Proposed SEC Rule For CMBS Means ‘Private Is The New Public’
Posted in Good Times for Lenders, Market Trends, Technology (including Green Buildings)In an earlier post, I commented on a proposed SEC rule that will require the disclosure of specific loan-level information as data, at CMBS securitization and then during the life of the CMBS pool. In addition, the data will be needed to "support" certain certifications required to be delivered as part of the CMBS securitization process…. Continue Reading
Technology: When and How Will Tech Tools (Finally) Help?
Posted in Market Trends, Technology (including Green Buildings)Earlier this month, the Corporate Executive Board announced (Bloomberg story) that it will collaborate with Legal OnRamp in an initiative to bring new resources to law department members of the General Counsel Roundtable (which is a program of the Corporate Executive Board). The goal of the initiative is to enable in-house counsel to network and… Continue Reading