Who is Responsible for Who Gets Paid?

Who to pay?  It starts to feel a little like “Who’s on first, What’s on second and I-don’t-know is on third” when we start to look at complicated mortgage transactions these days. We have mortgages, deeds of trust, lenders, assignees, beneficiaries, lender’s servicing...

State of Delaware Sues MERS

In a new twist, the State of Delaware is suing MERS under the Unlawful and Deceptive Trade Practices Act (UDTPA.) The suit claims that MERS has left for borrowers “no public trail by which anyone can identify the principals or verify the propriety of the (mortgage)...

Chicago Title Employees Accused of Fraud

Chicago Title employees together with Rollo “Rick” Norton, a financial planner and leader of a scheme were accused by 19 people who said they lost their investments in a San Diego condominium project because of sham real estate transactions.  Investors claimed...

Some Loan Servicers Run a Scam

A great article by George Mantor at RisMedia points out problems with some loan servicers. It reads in part: “Servicing, the collecting and distributing of mortgage payments, is the land of opportunity…Who is in a better position to exploit a defaulting borrower...