Pew family trusts which I am a beneficiary and/or remainderman have maintained
investments in various banks, mutual funds, and other entities that maintain
interests in various shares, mortgage backed securities and/or debt issuances and I
have been a shareholder in many mortgage companies including Fannie Mae,
Bear Stearns, JPMorganChase, Washington Mutual, MGIC, Ocwen and Radian,
many of which are members, owners and shareholders in Mortgage Electronic
Registration Systems, Inc. [MERS].
SALT LAKE CITY, Utah (ABC 4 News) – “They’re foreclosing illegally here in Utah,” those were the words of St. George Attorney John Christian Barlow spoken in early June. Barlow at the time had appeared before a Federal Judge arguing that the Banking Giant, Bank of America, was foreclosing illegally in the State of Utah. The Southern Utah Attorney believed that because B.O.A was not a registered business or corporation in the state, they lacked authority to do business here.
Barlow had succeeded in getting a 5th Circuit Court Judge to agree with him; as a result the judge imposed an injunction on all Bank of America foreclosures. Weeks later, the case went before a Federal Judge where B.O.A. argued that they were regulated by Federal Laws not State. Federal Judge Clark Waddoups heard case, and threw out the injunction therefore Bank of America’s foreclosure company: ReConTrust was allowed to foreclose once again.
After the decision, ABC4 got a tip about the case and started digging. Our tipster said that the Judge may have a conflict of interest in hearing the B.O.A. cases. Why? Because the Judge Waddoups old law firm represents Bank of America.
We checked into Waddoups background and the Federal Judge did work for Parr,Brown, Gee & Loveless for nearly 30 years. And Waddoups, as of 2008, drew a pension from the law firm. We placed a call to the firm, but they wouldn’t comment if the former firm Partner had ever handled B.O.A cases.
Recent Comments