I wrote here about a month ago promising that I would start including some CDS case law coverage about the securitization industry. Case law remains a bit scant but there are a variety of interesting issues that have already been ruled on such as ownership of notes and mortgages.
Since I no longer have reliable access to Westlaw or Lexisnexis, I have to dig through older law periodicals or ask others for help in providing case names.
Here is one interesting tidbit - In re Foreclosure Cases, 2007 WL 3232420.
Although it is a bit dated (from 2007), the case should still be controlling.
After reading the case though, it seems that the court ruled on narrow and specific terms - specifically on the issue of the lenders recording the deeds ONLY AFTER the case had been filed in court. So, that is an error that can be easily cured depending on whether or not the property is situated in a race notice or notice recording state. The UCC (Uniform Commercial Code) would also seems to support the lenders' contentions as there are provisions w/in that make for a strong lender argument.
See:
http://www.abanet.org/rppt/publications/
ereport/2007/6/OhioForeclosureCases.pdf
For the actual decision
http://www.consumerwarningnetwork.com/wp-content/
uploads/2008/06/judge-boyko-ruling1.pdf
*Thanks Robert for the case name*
Monday, June 29, 2009
blog comments powered by Disqus
Blog Archive
-
▼
2009
(472)
-
▼
June
(70)
- The Debts of the Spenders: States Face Looming Bud...
- The Debts of the Spenders: CDS Case Law Update
- The Debts of the Spenders: Drought in Canada?
- The Debts of the Lenders: Putin Closes All Casinos...
- The Debts of the Lenders: Hong Kong Slashes Mortga...
- The Debts of the Spenders: Primary Dealers, the No...
- The Debts of the Spenders: Dresdner Kleinwort Drop...
- The Debts of the Lenders: China Expands Global Rea...
- The Debts of the Lenders: Indian Monsoon Season Se...
- The Debts of the Spenders: CFTC and Senate Target...
- The Debts of the Spenders: The California Muni Sit...
- The Debts of the World: OECD Issues Mixed Signals ...
- The Debts of the Lenders: Japanese Exports Collapse
- The Debts of the Spenders: Chris Whalen Exposes th...
- The Debts of the Spenders: Soybean Rust Fungus and...
- The Debts of the Lenders: Chinese Reality Check
- The Debts of the Spenders: Eurodollar Futures Remi...
- The Debts of the Spenders: Libor, (Euro)Dollar, an...
- The Debts of the Lenders: J-Reits to Surface (Again)
- The Debts of the Spenders: The Obama Years and Ame...
- The Debts of the World: New Wheat Fungus Has Poten...
- The Debts of the Lenders: Chinese Trade War?
- The Debts of the Spenders: El Nino Odds Greater Th...
- The Debts of the Spenders: Argentina Reaches Deal ...
- The Debts of the Spenders: Wheat Fungus Threatens ...
- The Debts of the Lenders: BRIC Members Issue Call ...
- The Debts of the Lenders: American Creditors Conve...
- The Debts of the Lenders: Russia Talks Up the Doll...
- The Debts of the Spenders: US Retail Import Volume...
- The Debts of the Spenders: Interdisciplinary Appro...
- The Debts of the Spenders: Inflation or Deflation?...
- The Debts of the Spenders: Forward Shipping Rates ...
- The Debts of the Spenders: Banks Pay To Raze Homes...
- The Debts of the Lenders: America's Pacific Allies...
- The Debts of the Spenders: USDA Forecast Wrap-Up
- The Debts of the Lenders: Bond Vigilantes Migrate ...
- The Debts of the Lenders: What China Can Learn Fro...
- The Debts of the Spenders: Boomers Apologize For D...
- The Debts of the Spenders: Forex Traders Believe G...
- The Debts of the Lenders: Chinese Learn Stimulus P...
- The Debts of the Spenders: US Truck Freight Volume...
- The Debts of the World: Soybeans Now Officially Bu...
- The Debts of the Spenders: Treasury Intra-Day Update
- The Debts of the Spenders: Muni Funds Report More ...
- The Debts of the Spenders: Proof of Deflation?
- The Debts of the World: ENSO (El Nino Southern Osc...
- The Debts of the Spenders: A Tale of Two Markets -...
- The Debts of the Spenders: Argentina Wheat Plantin...
- The Debts of the Spenders: Fed Fund Futures Pricin...
- The Debts of the Spenders: Philippines Passes REIT...
- The Debts of the Spenders: Jim Rogers "I am Not Sh...
- The Debts of the Spenders: Temp Jobs Mask Governme...
- The Debts of the Spenders: European Corporate Bond...
- The Debts of the Spenders: CFTC's Gensler Calls Fo...
- The Debts of the Spenders: Central Bankers Confuse...
- The Debts of the Spenders: Agricultural Weather Up...
- The Debts of the Spenders: Corn's Counter Cyclical...
- The Debts of the Spenders: Watch ECB and Fed Comme...
- The Debts of the Spenders: The CME - ICE Wars
- The Debts of the Spenders: US Corn Knee High By th...
- The Debts of the Lenders: South Korea Breaks Recor...
- The Debts of the Spenders: CME and Eurodollar Posi...
- The Debts of the Lenders: America's Pacific Allies...
- The Debts of the Spenders: The SEC Investigates It...
- The Debts of the Lenders: China Warns Geithner Abo...
- The Debts of the Spenders: The Dollar's Big Picture
- The Debts of the Spenders: May 22-29 COTs Data
- The Debts of the Spenders: June 1 USDA Crop Progre...
- The Debts of the Spenders: How to Read the USDA Cr...
- The Debts of the Spenders: Bernanke's Price Fixing...
-
▼
June
(70)