Law Commons^™

Consumer Bitcredit And Fintech Lending, Christopher K. Odinet

Christopher K. Odinet

Tmi About Pmi: A Basic Guide To Private Mortgage Insurance, Marie Sarantakis

Marie Sarantakis

Purchasing a home for the first time can be an intimidating and overwhelming experience for the average consumer. In an economic downturn, Private Mortgage Insurance (PMI) is a commonly utilized mechanism that affords homebuyers the ability to purchase a residence with a minimal down payment while insulating the lender as the beneficiary of the policy. PMI is an often dreaded and misunderstood expense. This basic guide provides a rudimentary understanding of PMI for a real estate novice.

Dirty Debts Sold Dirt Cheap, Dalie Jimenez

Dalie Jimenez

More than 77 million Americans have a debt in collections. Many of these debts will be sold to debt buyers for pennies, or fractions of pennies, on the dollar. This Article details the perilous path that debts travel as they move through the collection ecosystem. Using a unique dataset of 84 consumer debt purchase and sale agreement, it examines the manner in which debts are sold, oftentimes as simple data on a spreadsheet, devoid of any documentary evidence. It finds that in many contracts, sellers disclaim all warranties about the underlying debts sold or the information transferred. Sellers also sometimes …

Implementing Dodd-Frank: A Review Of The Cftc‟S Rulemaking Process: Testimony, Michael Greenberger

Michael Greenberger

The Relationship of Unregulated OTC Derivatives to the Meltdown. It is now accepted wisdom that it was the non-transparent, poorly capitalized, and almost wholly unregulated over-the-counter (“OTC”) derivatives market that lit the fuse that exploded the highly vulnerable worldwide economy in the fall of 2008. Because tens of trillions of dollars of these financial products were pegged to the economic performance of an overheated and highly inflated housing market, the sudden collapse of that market triggered under-capitalized or non-capitalized OTC derivative guarantees of the subprime housing investments. Moreover, the many undercapitalized insurers of that collapsing market had other multi-trillion dollar …

Throw The Book At Them: Testing Mortgagor Remedies In Foreclosure Proceedings After U.S. Bank V. Ibanez, Claire Ward

Claire Alexis Ward

This article takes one state, Massachusetts, as its focus for a perspective on the residential mortgage foreclosure crisis. U.S. Bank v. Ibanez, in early 2011, signaled a changing tide which began to hold banks accountable for the shoddy practices they frequently used to foreclose. However, the promise of Ibanez was unfulfilled as successor cases failed to follow through with its vision. Mortgagor actions brought in the trial courts to prevent foreclosure have been unsuccessful with the elemental actions based in consumer protection, contract, and equity. However, this article proposes new and novel solutions to force banks to be held accountable …