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How a Bloomberg Report and REMIC Analysis Strengthen Your Foreclosure Case

Most people assume that when they are having to deal with foreclosure, the lender has their documents in proper order. In reality, many of today’s mortgage loans are backed by a complicated securitization process that can lead to massive errors in identifying parties to the original mortgage loan documents. In my experience, the Bloomberg Report and REMIC analysis are two very important investigative tools for identifying errors in mortgage documents to help support your foreclosure defense. The Bloomberg report is a very detailed analysis of the financial cycle of a mortgage loan within the secondary mortgage market. The report is based on the data provided by Bloomberg L.P. and is a way to follow the ownership and transfer of your mortgage loan in the secondary market back through securitization to determine who the true owner is, where the loan was transferred, and if it was put into a mortgage-backed security. Homeowners can use a Bloomberg report to determine: Who is the true own...
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What Is a Mortgage Securitization Audit and How Does It Work?

Over the past few decades the mortgage industry has gone through a lot of changes; one such change being the securitization of mortgages, which is a very complicated part of modern day lending. Many homeowners do not realize that their mortgage can be pooled with hundreds or thousands of other mortgages and sold off to investors. Consequently, lending professionals often perform mortgage securitization audits to find out what happened to the mortgage after the loan was issued, and to determine whether the legal documents associated with the loans were processed correctly. Mortgage Securitization is the process of aggregating or pooling a bunch of mortgages (known as "mortgage backed securities") together, and packaging those together into financial instruments such as Real Estate Mortgage Investment Conduit (REMIC) Trusts that can be sold to investors. Investors buy shares of REMIC Trusts and earn returns based on the mortgage payments made by the borrowers. In addition to h...
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Slander of Title in Mortgage Foreclosures: Causes and Legal Consequences

Proper property titles are essential in the legal enforcement of mortgages. In the event that a title to a home is muddled by false, misleading, or improperly recorded documents, the outcome can be slander of title. Slander of title may be quite devastating in the law and economically in the case of mortgage foreclosures, especially when invalid claims are registered against a property. What Is Slander of Title? Slander of title happens when one of the parties documents or prints inaccurate information about the condition or proprietorship of a property, which results in injury to the true owner. In contrast to mere clerical mistakes, slander of title is a set of claims for violation of violating the legal rights of another party to real estate. This normally occurs in a situation involving mortgage cases where parties purport to have an interest in a loan or property but lack legitimate legal power to do so. Common Sources of Slander of Title in Foreclosures Mortgage compliance audit ...
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