Washington Supreme Court to Weigh Legality of MERS Foreclosures
Washington Supreme Court to Weigh Legality of MERS Foreclosures
By Elliot Njus, The Oregonian, Sept. 2, 2011
Washington state's highest court is set to determine whether thousands of pending foreclosures can proceed out of court, potentially averting months of conflicting and murky rulings. The court will hear arguments over whether lenders can file foreclosures in the name of MERS, a private company that owns a computerized mortgage registry system.
Self Harm
By The Economist, Sept. 3, 2011
As Obama casts around for ways to bolster the American economy, one area of focus is a still-moribund housing market. He could start by taking a closer look at Fannie Mae and Freddie Mac, America’s housing-finance giants.
Robo-signed Mortgage Docs Date Back to Late 1990s
By Pallavi Gogoi, Associated Press, Sept. 2, 2011
Counties across the United States are discovering that illegal or questionable mortgage paperwork is far more widespread than thought, tainting the deeds of tens of thousands of homes dating to the late 1990s.
Struggling Bank of America Shakes Up Exec Ranks
By Christina Rexrode, Associated Press, Sept. 2, 2011
Embattled Bank of America Corp. shook up its management ranks on Tuesday, announcing that two key officers will leave and promoting two others to share the chief operating officer role.