This case is important; anyone who wants to get a taste for the issues that lawyers involved in foreclosure defense deal with should read the linked documents. This case really relates to one issue, which is committing a fraud upon the court and then, after you get busted, dismissing the case and getting a do-over without any consequences. I will continue to watch with great interest.
Link to documents.
It appears that Florida is not the only state having these types of issues. In a recent New York Times article, linked below, several New York foreclosure mills were the focus of the discussion.
“The New York investigation appears to center on two of the state’s foreclosure industry giants: the Steven J. Baum firm, headquartered in Amherst, N.Y., and Pillar Processing, a default servicing firm set up by Mr. Baum that was spun off in 2007. Representing JPMorgan Chase, Wells Fargo and other large banks, the Baum firm has handled an estimated 40 percent of foreclosure cases in the state. Pillar Processing provides extensive services to the firm.” See full article HERE.
The article I have linked to addresses one of my big concerns regarding the foreclosure mess. The MERS scheme created a new paradigm. In Florida, there is no law allowing an interest in a mortgage to be severed from an interest in a note, at least none that I have found. I have made this argument, that the contractual language in a MERS mortgage; (1) is a nullity as a matter of law, or (2) it requires that the two separate chains of title must flow to the same plaintiff, and that such a plaintiff must take both the Note through endorsement and the Mortgage through assignment, simply having one will not work to provide standing because the other must be accounted for as well. By having this dialog in the media, my hope is that we will be able to work toward a solution to this problem. Read this article to learn more.
Read entire article here.