Category Archives: foreclosure crisis

American Banker: New wrinkle in the foreclosure mess

New Point of Foreclosure Contention: Default Notice Last year’s robo-signing scandals delayed tens of thousands of foreclosures in the 23 states where the process is handled in court. A new controversy could complicate foreclosures in the other 27 states. At issue is the notice of default, the first letter that a mortgage lender or servicer […]

New Jersey foreclosure reversed: Reason, lack of standing!

Standing to foreclose rears it’s head, this time in New Jersey In what seems to be playing out more and more often, an already decided foreclosure, this time in New Jersey was reversed because the foreclosing lender, Wells Fargo, could not prove that it had the standing to foreclose. The decision came down on Friday […]

Hallmark Abstract on the radio

Hallmark Abstract on the radio Discussion of foreclosure, robo-signing, standing, MERS and more Michael Haltman will be appearing on The Real Wealth Radio Show hosted by Kathy Fettke on 1220 KDOW in San Francisco. The show will cover some of the many issues surrounding foreclosures, and can be heard live at 1:00 PM EST by […]

Non-securitized mortgage flow chart

Exploring the current foreclosure crisis One of the major issues that will be in the spotlight moving forward will be the foreclosure of mortgages that were bundled and sold as REMIC’s, mortgage backed securities (MBS), and collateralized mortgage obligations (CMO’s). It is likely that for many of these mortgages that were sold and then resold, […]