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Articles 1 - 9 of 9
Full-Text Articles in Law
Lending Discrimination, The Foreclosure Crisis And The Perpetuation Of Racial And Ethnic Disparities In Homeownership In The U.S., Aleatra P. Williams
Lending Discrimination, The Foreclosure Crisis And The Perpetuation Of Racial And Ethnic Disparities In Homeownership In The U.S., Aleatra P. Williams
William & Mary Business Law Review
For decades the agencies charged with minding the ‘fair credit and lending’ shop turned a blind eye to those (lenders) who pilfered minority homeownership (and consequently minority wealth) by extending mortgage lending products that were, in many cases, unequal to similarly situated non-minority counterparts. Since the 1950s, when the federal government endorsed homeownership policies for minorities, and the 1960s, when antidiscriminatory D9lending laws were enacted, access to fair mortgage credit has been unattainable. Unbridled lending discrimination culminated in massive foreclosures for a disproportionate number of minority homeowners during the Housing and Foreclosure Crisis. Lenders disparately foreclosed upon upper class, middle …
The Emperor’S New Clothes: How The Judicial System And The Housing-Mortgage Market Have Turned A Blind Eye To The Destruction Of The Negotiability Of Mortgage Promissory Notes, Roy D. Oppenheim, Jacquelyn K. Trask-Rahn
The Emperor’S New Clothes: How The Judicial System And The Housing-Mortgage Market Have Turned A Blind Eye To The Destruction Of The Negotiability Of Mortgage Promissory Notes, Roy D. Oppenheim, Jacquelyn K. Trask-Rahn
William & Mary Business Law Review
This Article examines the common notions of negotiable instruments as they relate to the modern day promissory note in the context of residential mortgage lending. The Article further addresses the destruction of the negotiability of such promissory notes through various undertakings added for the benefit of the banking industry, often to the detriment of a borrower. The use of negotiable instruments commenced in the 1800s in England as a way of ensuring a fluid market between trades as there was no fiat currency system in place. The fundamental purpose behind the concept of negotiability was subsequently abrogated by the modernization …
Property And Mortgage Fraud Under The Mandatory Victims Restitution Act: What Is Stolen And When Is It Returned?, Arthur Durst
Property And Mortgage Fraud Under The Mandatory Victims Restitution Act: What Is Stolen And When Is It Returned?, Arthur Durst
William & Mary Business Law Review
The United States Circuit Courts of Appeals are split on how to calculate restitution in a criminal loan fraud situation where collateral is involved. This trend is best illustrated in cases involving mortgage fraud. The split stems from disagreement over how to account for the lender’s receipt of collateral property. The Third, Seventh, Eighth, and Tenth Circuit Courts of Appeals consider the property returned when the person defrauded receives cash from the sale of collateral property. The Second, Fifth, and Ninth Circuits deem the property returned when the lender takes ownership of the collateral property. This Note argues that the …
Property Title Trouble In Non-Judicial Foreclosure States: The Ibanez Time Bomb?, Elizabeth Renuart
Property Title Trouble In Non-Judicial Foreclosure States: The Ibanez Time Bomb?, Elizabeth Renuart
William & Mary Business Law Review
The economic crisis gripping the United States began when large numbers of homeowners defaulted on poorly underwritten subprime mortgage loans. Demand from Wall Street seduced mortgage lenders, brokers, and other players to churn out mortgage loans in extraordinary numbers. Securitization, the process of utilizing mortgage loans to back investment instruments, fanned the fire. The resulting volume also caused the parties to these deals to often handle and transfer the legally important documents that secure the resulting investments—the loan notes and mortgages—in a careless and sometimes fraudulent manner.
The consequences of this behavior are now becoming evident. All over the country, …
Two Faces: Demystifying The Mortgage Electronic Registration System's Land Title Theory, Christopher L. Peterson
Two Faces: Demystifying The Mortgage Electronic Registration System's Land Title Theory, Christopher L. Peterson
William & Mary Law Review
In the mid-1990s, mortgage bankers created Mortgage Electronic Registration Systems, Inc. (MERS) to escape the costs associated with recording mortgage transfers. To accomplish this, lenders permanently list MERS as the mortgagee of record instead of themselves to avoid the expense of recording any subsequent transfers. MERS’s claim that it is both an agent of the lender and the mortgagee, and the huge gaps left in the public record, give rise to a range of legal issues. This Article addresses whether security agreements naming MERS as a mortgagee meet traditional conveyance requirements and discusses the rights of counties to recover unpaid …
Is Sharif's Castle Deductible? Islam And The Tax Treatment Of Mortgage Debt, Roberta Mann
Is Sharif's Castle Deductible? Islam And The Tax Treatment Of Mortgage Debt, Roberta Mann
William & Mary Bill of Rights Journal
This Article examines the tax treatment of Islamic mortgage alternatives and considers the cultural and constitutional implications of the tax treatment of mortgage debt. Islamic law cannot be separated from the religion of Islam, and one of the primary tenets of Islamic law is the prohibition of riba, which is defined by some Islamic jurists as the payment of interest on any loan. Financing institutions, working with Muslim religious leaders, have developed a number of financing instruments that do not violate the prohibition against riba, thus facilitating home ownership for those Muslims who do not feel comfortable with a traditional …
Bankruptcy And Mortgage Lending: The Homeowner Dilemma, A. Mechele Dickerson
Bankruptcy And Mortgage Lending: The Homeowner Dilemma, A. Mechele Dickerson
Faculty Publications
No abstract provided.
Tax Consequences Of Restructuring Debt On Troubled Real Estate, Stefan F. Tucker
Tax Consequences Of Restructuring Debt On Troubled Real Estate, Stefan F. Tucker
William & Mary Annual Tax Conference
No abstract provided.
Applications Of The Distinction Between Mortgages And Trust Deeds In California, Joseph M. Cormack, James B. Irsfeld Jr.
Applications Of The Distinction Between Mortgages And Trust Deeds In California, Joseph M. Cormack, James B. Irsfeld Jr.
Faculty Publications
No abstract provided.