Quote:
Originally posted by sebastian_dangerfield
Has that case where the Fed Judge dismissed a foreclosure action because the owners of the securities couldn't get the original mortgage papers caused any reverberations? I read the ruling and, after cracking up a bit, thought "Wow, what a gift for lawyers. All those billable hours tracking that stuff through the pipeline."
|
I hadn't seen it before. It's just a procedural issue, unless the mortgage originator has filed bankruptcy. Everyone will have their assignments in order next time.
In this case, it seems that the lawyer dug his own hole: "Plaintiff’s, “Judge, you just don’t understand how things work,” argument reveals a condescending
mindset. . .". It's never a good idea to approach a federal judge in a manner which could be percevied as condescending. Whoever represented DB is lucky they didn't get sanctioned.
