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March 5, 2011 at 3:10 PM #18594March 12, 2011 at 10:52 AM #676370AecetiaParticipant
Good post, patb
“At heart, Judge Schack is scratching at the notion that MERS is a legal fiction. If MERS owned nothing, how could it bounce mortgages around for more than a decade? And how could it file millions of foreclosure motions?”
This should have a huge impact on pending foreclosures.
March 12, 2011 at 10:52 AM #676426AecetiaParticipantGood post, patb
“At heart, Judge Schack is scratching at the notion that MERS is a legal fiction. If MERS owned nothing, how could it bounce mortgages around for more than a decade? And how could it file millions of foreclosure motions?”
This should have a huge impact on pending foreclosures.
March 12, 2011 at 10:52 AM #677035AecetiaParticipantGood post, patb
“At heart, Judge Schack is scratching at the notion that MERS is a legal fiction. If MERS owned nothing, how could it bounce mortgages around for more than a decade? And how could it file millions of foreclosure motions?”
This should have a huge impact on pending foreclosures.
March 12, 2011 at 10:52 AM #677170AecetiaParticipantGood post, patb
“At heart, Judge Schack is scratching at the notion that MERS is a legal fiction. If MERS owned nothing, how could it bounce mortgages around for more than a decade? And how could it file millions of foreclosure motions?”
This should have a huge impact on pending foreclosures.
March 12, 2011 at 10:52 AM #677520AecetiaParticipantGood post, patb
“At heart, Judge Schack is scratching at the notion that MERS is a legal fiction. If MERS owned nothing, how could it bounce mortgages around for more than a decade? And how could it file millions of foreclosure motions?”
This should have a huge impact on pending foreclosures.
March 12, 2011 at 11:37 AM #676375SK in CVParticipant“They didn’t do the deep homework,” said an official involved in those discussions who spoke on condition of anonymity because he has clients involved with MERS. “So as far as anyone can tell their real theory was: ‘If we can get everyone on board, no judge will want to upend something that is reasonable and sensible and would screw up 70 percent of loans.’ ”
They obviously hadn’t had much experience with the bankruptcy court.
March 12, 2011 at 11:37 AM #676431SK in CVParticipant“They didn’t do the deep homework,” said an official involved in those discussions who spoke on condition of anonymity because he has clients involved with MERS. “So as far as anyone can tell their real theory was: ‘If we can get everyone on board, no judge will want to upend something that is reasonable and sensible and would screw up 70 percent of loans.’ ”
They obviously hadn’t had much experience with the bankruptcy court.
March 12, 2011 at 11:37 AM #677040SK in CVParticipant“They didn’t do the deep homework,” said an official involved in those discussions who spoke on condition of anonymity because he has clients involved with MERS. “So as far as anyone can tell their real theory was: ‘If we can get everyone on board, no judge will want to upend something that is reasonable and sensible and would screw up 70 percent of loans.’ ”
They obviously hadn’t had much experience with the bankruptcy court.
March 12, 2011 at 11:37 AM #677175SK in CVParticipant“They didn’t do the deep homework,” said an official involved in those discussions who spoke on condition of anonymity because he has clients involved with MERS. “So as far as anyone can tell their real theory was: ‘If we can get everyone on board, no judge will want to upend something that is reasonable and sensible and would screw up 70 percent of loans.’ ”
They obviously hadn’t had much experience with the bankruptcy court.
March 12, 2011 at 11:37 AM #677525SK in CVParticipant“They didn’t do the deep homework,” said an official involved in those discussions who spoke on condition of anonymity because he has clients involved with MERS. “So as far as anyone can tell their real theory was: ‘If we can get everyone on board, no judge will want to upend something that is reasonable and sensible and would screw up 70 percent of loans.’ ”
They obviously hadn’t had much experience with the bankruptcy court.
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