“Mere” Technicalities?…or Gross Malfeasance
“… maybe the crisis will make the banks realize that they ought to be doing fewer foreclosures and more loan modifications — sensible adjustments that allow deserving families to stay in their homes. And if this happens, we’ll have the lawyers to thank.
“These may be technicalities, but there’s nothing mere about them. For one thing, if borrowers are expected to play by the rules, lenders should be expected to do the same. For another, there can’t be a functioning real estate market without the ability to establish clear title. Lawyers probing this aspect of the foreclosure crisis are doing the system a favor.
“Sharp-eyed attorneys, representing delinquent homeowners, have unearthed cases in which high-volume “robo-signers” submitted affidavits attesting that they reviewed all the loan files personally — when, in fact, they had not. This is just the sort of thing that puts judges in a really bad mood.