Title Crisis
By Daniel Edstrom
DTC Systems, Inc.
If you thought this was a foreclosure crisis brought about by the Mortgage Meltdown, you would be wrong. If this were a foreclosure crisis only those in foreclosure would be the ones having problems. And only those loans in foreclosure would be the ones having title issues and “robo-signer” issues. I cannot say this loud enough: FORECLOSURE IS NOT THE PROBLEM. Homeowners not making payments is not the problem. “Freeing up” credit to stimulate lending is not the problem. If you didn’t get a subprime loan, and yours is a 30 year fixed, you are at risk of a clouded title almost as much as anyone in foreclosure. In fact, if you have refinanced or purchased your house from 2000 or later, you could easily have a defect in title. Since I am not a lawyer and can only give myself legal advice, I will only discuss my own case. And of course these are only my opinions based on my knowledge, education, training and research. Apparently my title company thinks my title is good. I know because somebody asked them and they said it was good. At the end of the article I will explain why they would say that. What they meant to say was “Everything is great because we, as a title company, are not at risk at all based on our review of your title”. Continue reading “Title Crisis” »
L. Randall Wray does it again – Requiem For MERS
By Daniel Edstrom
DTC Systems, Inc.
L. Randall Wray, Professor of Economics and Research Director for the Center for Full Employment and Price Stability, University of Missouri-Kansas City posted an article on the Huffington Post (http://www.huffingtonpost.com) that I somehow missed. The MERS design was woven in fraud. Professor Wray points out the two main issues with MERS. The first is that most foreclosures are illegal because those doing the foreclosing do not have legal standing. Second the practices that create the foreclosure problems also mean that the mortgage backed securities are actually unsecured debt. Professor Wray says that this means the banks must take them back, so they are toast. He also states that it all comes back to MERS business model: it destroyed the chain of title.
Continue reading “L. Randall Wray does it again – Requiem For MERS” »
Foreclosure Mills Continue Down the Wide Path of Destruction
By Daniel Edstrom
DTC Systems, Inc.
We have already talked about the foreclosure mills the Law Offices of David J. Stern PA and Ben-Ezra & Katz PA and NDEx West (owned by Dolan Media) with its doppelgänger foreclosure mill law firm, Barrett Daffin Frappier Turner & Engle. Now we turn our attention to Shapiro & Burson apparently out of Maryland. As stated on livinglies.wordpress.com (and originally from 4closurefraud.org), The Baltimore Sun’s Jamie Smith Hopkins reports that 1,000 or more Maryland deeds are likely forgeries that were created by a foreclosure mill (the law firm of Shapiro & Burson). It turns out that last year two other law firms in Maryland admitted they had forged signatures on foreclosure documents in a similar manner (Bierman Geesing & Ward along with Covahey Boozer Devan and Dore). I have already shown that NDEx West (owned by Dolan Media) along with Barrett Daffin Frappier Turner & Engle does the same thing. This is very easy to show for just about any foreclosure mill. Here is how. Just go down to the recorders office and pull up 20 documents in each of the last 3 or 4 years naming your favorite foreclosure mill (NDEx West or whoever). The chances of you not finding one forgery are probably close to 0%. The chances of you finding multiple forgeries is very high (99%+). Continue reading “Foreclosure Mills Continue Down the Wide Path of Destruction” »
Securitization Workshop for Attorneys March 19th 2011 in San Francisco
By Daniel Edstrom
Join us for our 3rd Securitization Workshop for Attorneys being held in San Francisco on March 19th, 2011. Visit the event website for more information: http://securedocumentresearch.eventbrite.com
This workshop has been approved for Minimum Continuing Legal Education (MCLE) by the State Bar of California. Total credit hours approved are 6.75 hours.
Description of event:
SECURITIZATION WORKSHOP FOR ATTORNEYS
March 19th, 2011 – in San Francisco, CALIFORNIA
Continue reading “Securitization Workshop for Attorneys March 19th 2011 in San Francisco” »
