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Foreclosing Modifications: How Servicer Incentives Discourage Loan Modifications, Diane E. Thompson
Foreclosing Modifications: How Servicer Incentives Discourage Loan Modifications, Diane E. Thompson
Washington Law Review
Despite record losses to investors, homeowners, and surrounding communities, the foreclosure crisis continues to swell. Many commentators have urged an increase in the number of loan modifications as a solution to the foreclosure crisis. The Obama Administration created a program specifically designed to encourage modifications. Yet, the number of foreclosures continues to outpace modifications. One reason foreclosures outpace modifications is that the mortgage-modification decision maker’s incentives generally favor a foreclosure over a modification. The decision maker is not the investor or the lender, but a separate entity, the servicer. The servicer’s main function is to collect and process payments from …
The Path Out Of Washington's Takings Quagmire: The Case For Adopting The Federal Takings Analysis, Roger D. Wynne
The Path Out Of Washington's Takings Quagmire: The Case For Adopting The Federal Takings Analysis, Roger D. Wynne
Washington Law Review
A quagmire awaits anyone attempting to understand the analysis Washington courts employ to determine whether government action constitutes a “taking” of property for which compensation is due under the U.S. Constitution. The Washington takings analysis is complex and confounding, especially when compared to the relatively straightforward takings analysis established by the U.S. Supreme Court. This Article argues that the Washington State Supreme Court should reject the Washington takings analysis and adopt the federal analysis. Comparing the federal and Washington analyses underscores how, as a matter of form, the Washington analysis easily stymies those who must work with it. Substantively, the …
The Path Out Of Washington's Takings Quagmire: The Case For Adopting The Federal Takings Analysis, Roger D. Wynne
The Path Out Of Washington's Takings Quagmire: The Case For Adopting The Federal Takings Analysis, Roger D. Wynne
Washington Law Review
A quagmire awaits anyone attempting to understand the analysis Washington courts employ to determine whether government action constitutes a “taking” of property for which compensation is due under the U.S. Constitution. The Washington takings analysis is complex and confounding, especially when compared to the relatively straightforward takings analysis established by the U.S. Supreme Court. This Article argues that the Washington State Supreme Court should reject the Washington takings analysis and adopt the federal analysis. Comparing the federal and Washington analyses underscores how, as a matter of form, the Washington analysis easily stymies those who must work with it. Substantively, the …