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Full-Text Articles in Law
Why We Need A Comprehensive Recording Fraud Registry, Randall K. Johnson
Why We Need A Comprehensive Recording Fraud Registry, Randall K. Johnson
Journal Articles
This essay argues for a modest expansion of the Nationwide Mortgage Licensing System and Registry (NMLS) in order to detect and deter more recording fraud. It does so, initially, by explaining why this online registry limits mortgage fraud. The essay later describes how the NMLS could detect or deter other crimes, such as deed fraud and lien fraud. Lastly, it deals with concerns about a Comprehensive Recording Fraud Registry.
"Pennies On The Dollar": Reallocating Risk And Deficiency Judgment Liability, Kristen Barnes
"Pennies On The Dollar": Reallocating Risk And Deficiency Judgment Liability, Kristen Barnes
Akron Law Faculty Publications
Many homeowners are unaware that they face the prospect of crushing personal financial liability if they default on their mortgage loans. While owners may appreciate that they can lose their homes to the lender if they fail to make payments in accordance with their loan terms, many do not fully comprehend that the exposure they have under such circumstances does not end with relinquishing the financed property. In what are known as recourse states, if the lender forecloses and the foreclosure sale does not yield an amount sufficient to cover the borrower’s outstanding debt balance, the lender may file for …