Consumer Law

Bogus Mortgage Assignees

By Alan White

Over at 4closurefraud.org there is an interesting story reporting that mortgage assignments are being filed in many states transferring mortgages to "Bogus Assignee".  Literally.  One of my personal favorites is a transfer of a mortgage from M.E.R.S., which arguably already subverts our title recording systems, to Bogus Assignee.  Property records down the rabbit hole.  This practice, if it is indeed widespread, would certainly throw another monkey wrench in the legal system to foreclose mortgages, while layering another coat of murk over efforts to hold lenders and servicers accountable for their misdeeds.

Full post as published by CL&P Blog on February 15, 2010 (boomark / email).