Mortgage Foreclosure Mess Two weeks or so into the mortgage foreclosure mess, some of the dust is settling regarding what could potentially be hundreds of thousands of homes improperly foreclosed upon by the big banks. First, what’s not going to happen: people who lost their homes in such fashion are not going to get them...Read More
Make That Four Theories (#4. Overreaction) In my post on Thursday, “National Moratorium on Foreclosures,” I puzzled over the seeming disconnect between the stocks of publicly-traded title insurance companies (barely affected), and the supposed tidal wave of claims headed their way due to defective mortgage foreclosures. I posited three possible explanations: 1) the aforementioned companies...Read More
“I Gave (and Gave) at the Office” It’s awfully hard to buy the line that banks may not have — ahem — strictly complied with the letter of the law in foreclosing upon hundreds of thousands of homes because they were understaffed. Let’s see . . . Take the staggering compensation earned by guys like...Read More
