Sentence examples for mortgage documentation from inspiring English sources
KUDOS to the Congressional Oversight Panel for publishing a thoughtful and thorough report last week on the mortgage documentation mess.
"This is not a rich community - we don't have a lot," says Bivens, who says few people read or understood the dense small print in mortgage documentation.
It also questions the view, held by some overseeing the Treasury Department's loan modification effort, that mortgage documentation errors have no impact on the program.
These included problems with court affidavits, notarization, mortgage documentation and oversight of law firms, a spokesman for the lender, which is based in London, said.
AFTER examining their foreclosure practices for flaws in mortgage documentation and other procedures, many of the nation's largest banks have resumed — or will soon resume — trying to evict defaulted borrowers.
"Any market in which a credit card agreement is more than 30 pages long and mortgage documentation runs into the hundreds of pages – none of which is designed to be easily read and understood by the consumer – is a broken market," she said.
The company's documentation practices are stirring questions, including how the same employee can have wildly varying signatures on mortgage documents.
Of course the latest example of the consequences of Wall Street's reckless greed is the mortgage foreclosure documentation disaster.
Failing to ensure the proper transfer of mortgage loan documentation to the securitization
trusts, which may have resulted in the failure of securitizations to own the loans upon which
they claimed to foreclose.
Morgan's Chase Retail Services announced earlier this month that as many as 56,000 mortgages had documentation problems, prompting calls for an industrywide investigation and a nationwide freeze on foreclosures.
And a recent case against Morgan Stanley cited a witness saying that the bank would receive mortgages with documentation of a buyer's income and then shred that documentation so that it could call it a "no doc" loan and pay less for it.
