The Mortgage Crisis was created by Mortgage Lenders, Banks, and Financial Institutions through the use of sub-prime lending and mortgage-backed securities. This article explores this crisis within the context of bankruptcy by examining sub-prime lending, mortgage securitization, MERS, and the situations that the U.S. Bankruptcy courts and trustees have dealth with the fallout of the mortgage crisis first hand.
This article was the 2010-2011 National Association of Chapter 13 Trustees Law School Writing Competition Winning article. Its full citation is:
Michael Wennerlund, “The Mortgage Crisis, MERS, and Chapter 13,” NACTT Quarterly, Fall, Vol. 23, No. 4, 28-35
Federal legislation introduced last week is giving credence to a battle being fought in Middle Tennessee by bankruptcy trustee Henry “Hank” Hildebrand.
John Hooge Co-Writes Article Surveying MERS Mortgage Loan Cases
Half the residential loans in this country are MERS mortgage loans and are being given increased scrutiny both in bankruptcy cases and foreclosure actions. John Hooge and Laurie Williams, the Wichita, KS. Chapter 13 Trustee, have co-written an article, “Mortgage Electronic Registration Systems, Inc.: A Survey of Cases Discussing MERS’ Authority to Act “.
GREAT LOOK AT THE BANKS WAY OF TRYING TO GET AROUND THE BANKRUPTCY. HERE IS THE WAY THEY LOOK AT THE ASSIGNMENTS AND TRANSFERS. NOTE THE POOLING AND SERVICING AGREEMENTS ARE IMPORTANT. IT ALSO SCREWS THEM WHEN THEY TRY TO TRANSFER AFTER THE CLOSE OF THE TRUST.
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