Real Estate & Property Law

Was Mortgage Registration System Built on ‘Foundation of Sand’?

A University of Utah law professor is raising questions about a company created to help smooth the process of securitizing mortgages that, if accepted by the courts, could invalidate mortgages throughout the United States. A New York Times column outlines the arguments that call into question mortgages registered by the…

Oct 19, 2010 1:30 PM CDT

Foreclosure Lawyer Under Scrutiny Lived the American Dream, Owns a Bugatti, Yacht and Mansions

Florida foreclosure lawyer David J. Stern lived the American dream before his high-volume operations came under investigation by the Florida Attorney General’s office. Stern’s firm received more than 6,000 foreclosures a month and managed 100,000 at any given time, according to a regulatory filing in the sale of his non-legal…

Oct 19, 2010 12:08 PM CDT

U.S. Attorney Defends Islam in Lawsuit Challenging Tennessee Mosque Permit

The U.S. Attorney in Nashville has filed a brief defending Islam as a religion in a dispute over a Tennessee mosque. U.S. Attorney Jerry Martin said in a press conference on Monday that he would not sit by while mosque opponents contend Islam is a political system rather than a…

Oct 19, 2010 11:27 AM CDT

Bank of America to Resume Foreclosures in 23 States by Next Week

Bank of America Corp., which imposed a 50-state foreclosure moratorium earlier this month, announced Monday that it will resume foreclosures in the 23 states in which it needs court approval to proceed. The decision affects 102,000 mortgages, the Wall Street Journal reported. Bank of America expects new affidavits to be…

Oct 18, 2010 10:56 PM CDT

Law Firm, Paid for Volume, Had 12 People Handling 12,000 Foreclosures at Once

Companies that handled foreclosure paperwork were paid for volume and penalized for delays, creating a system that was vulnerable to errors. The financial incentives extended to virtually everyone involved in the foreclosure process—including law firms, the Washington Post reports. “Law firms competed with one another to file the largest number…

Oct 18, 2010 12:04 PM CDT

Inexperienced, Untrained Workers Hired as Foreclosure ‘Experts,’ Lawyer Says

Financial institutions and mortgage servicing departments have hired hair stylists, retail salespeople, assembly line workers and others with no formal training or experience in the field to work as foreclosure ‘experts’ since 2007, a Florida lawyer says. Peter Ticktin, a Deerfield Beach, Fla., lawyer who is defending 3,000 homeowners in…

Oct 15, 2010 9:52 PM CDT

Foreclosure Lawyer Goes Extra Mile, Helps Clients Break Into Their Former Homes

Amidst a national debate over the extent to which courts and lawmakers need to put the brakes on lenders who reportedly may have filed thousands of defective mortgage foreclosure cases, attorney Mike Pines reportedly is going the extra mile for his clients. As others talk and making court filings, he…

Oct 15, 2010 5:18 PM CDT

After Initial Nix by One County Court, Fla. AG Wins Subpoena for Law Firm Docs From Another

Slapped down by a Palm Beach County Circuit Court judge when he tried to subpoena documents from one “foreclosure mill” law firm, Florida’s attorney general has tried again in Broward County concerning another such law firm and won the ruling he sought. Attorney Jeffrey Tew, who represents David Stern and…

Oct 15, 2010 4:29 PM CDT

Humble Maine Home, Ex-Lender Lawyer at Epicenter of Storm Over Defective Docs in Foreclosure Cases

An unprecedented national furor over a deluge of defective filings in mortgage foreclosure cases largely centers on a single unlikely case. Nicolle Bradbury admittedly can’t afford to pay the $474 monthly mortgage on her humble Maine home after losing her job. But she won the mortgage foreclosure lottery when a…

Oct 15, 2010 3:45 PM CDT

Bankruptcy Trustee Joins Homeowner Suit Over Law Firm Foreclosure Fees

A bankruptcy trustee has joined a Mississippi family in challenging fees charged by a law firm and other companies involved in a mortgage foreclosure, on behalf of all similarly situated families in bankruptcy in the Northern District of Mississippi. The law firm, Johnson & Freedman, has participated in “illegal” fee-splitting…

Oct 15, 2010 10:00 AM CDT

Now Wed to Lawyer, Owner Tries to Give Home Back to Habitat for Humanity, Could Face Suit

After marrying a lawyer and moving into his Indiana home, Yvonne Vanderaa (now Yvonne Parkinson) tried to do the right thing. She probably could have made a profit by selling her own West Lafayette home, which she got from Habitat for Humanity. But instead she tried to give it back…

Oct 14, 2010 10:33 PM CDT

Proposed Leaf-Blower Ban Generates Lots of Noise from Irked Citizens

A proposal to ban most, but not all, leaf-blowing in a South Florida city has generated lots of noise from irate citizens. While some in Coral Gables welcome the green initiative, which is intended to reduce not only the racket from the machines but the mold spores and chemicals they…

Oct 13, 2010 7:09 PM CDT

Layoffs of Perhaps 100 Follow Work Slowdown at Fla. Foreclosure Law Firm

Following news from Bloomberg that a major lender has stopped sending new cases to a South Florida law firm known for its foreclosure work, a lawyer for its chief attorney, David Stern, confirms that it has made layoffs. There were “probably less than 100” workers let go from Stern’s law…

Oct 13, 2010 5:24 PM CDT

Grand Jury Probe of $48M ‘Taj Mahal’ Courthouse Goes Nowhere

A plan to build a lavish new appellate courthouse in Florida was no secret. But now that the $48 million “Taj Mahal” structure is nearing completion in Tallahassee, some are demanding answers about how it came to be and seeking to hold judges and other officials accountable. A grand jury…

Oct 13, 2010 12:52 AM CDT

Freeze Foreclosures in All 50 States, Lawmaker Urges Big Banks, as 40 State AGs Plan Joint Probe

Updated: Following news earlier today that Bank of America has called a temporary halt to foreclosures in all 50 states as it reviews paperwork to make sure it’s accurate, Sen. Majority Leader Harry Reid (D-Nev.) is urging other major mortgage servicers to follow suit, reports the Washington Post. “I thank…

Oct 8, 2010 7:59 PM CDT