In an earlier posting, I briefly touched on who could be responsible for inaccuracies in the legal documents (or the failure to include necessary information in those legal documents) that assign the loan and the loan documents to the current or real owner of the loan. For example, responsible parties could be the loan servicer… Continue Reading
Tag Archives: Owner and Holder
Initial Lessons from US Bank v Ibanez case: Establish Ownership of the Mortgage Loan (and more)
Posted in Market Trends, Remedies, Tough Times for LendersOn Friday, January 7, 2010, the Massachusetts Supreme Court upheld a lower court’s decision invalidating two foreclosures of adjustable rate, sub-prime home loans – on the grounds that the foreclosing lenders failed to prove they owned their respective mortgage loans at the time of their respective foreclosures (copies of the opinion posted on Scribd; and… Continue Reading
Owner and Holder Issues – Various Sources of Repayment
Posted in Remedies, Tough Times for Lenders, Workout IssuesPromissory Note Historically the owner and holder of negotiable instruments, bearer instruments, etc. have been very important in contractual financial relationships. However, promissory notes contain repayment obligations of the maker that may be contractually limited. Confusion exists as to the legal necessity of "holder and owner" legal requirements. The new structured financial instruments have caused… Continue Reading