It appears that the Massachusetts Supreme Court may rule soon on whether transfers of mortgages were properly done in a case called Ibanez. [UPDATE: The Court has ruled; the banks have lost, and we’ve got a problem. More on this later.] The lower court has already ruled (twice) that the foreclosures were invalid because the … Read more
I continue to try and think through the various issues of foreclosuregate. There are a lot of them. And some of them are petrifying. In my last post, I wondered about title issues. In this one, I wanted to sketch out my understanding of the possible problems to the entire global financial system: systemic risk. … Read more
Were I not driving across this great big nation of ours, I would have been far more productive on blogging about foreclosuregate. As it is, I’m fairly limited to writing at various truck stops in a larger work that hopes to lay out all of the issues and what the real estate industry can and … Read more