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Sunday, December 21, 2008
“Securitization Facilitated Predatory Lending”
Professor Kenneth C. Kettering of the New York Law School recently reviewed the legal foundations and product growth of asset “securitization” in his article Securitization and its Discontents: The Dynamics of Financial Product Development, 29 CARDOZO L. REV. 1553 (2008).
Interestingly enough, Professor Kettering lists various articles dating back as far as the year 2002 where critics contended that mortgage securitization facilitates “predatory” lending and misleading disclosures . One of the earliest proponents of this thesis was Kurt Eggert’s article Held Up in Due Course: Predatory Lending, Securitization, and the Holder in Due Course Doctrine, 35 CREIGHTON L. REV. 503 (2002). Other articles cited are Kathleen C. Engel & Patricia A. McCoy, Turning a Blind Eye: Wall Street Finance of Predatory Lending, 75 FORDHAM L. REV. 2039 (2007), Christopher L. Peterson, Predatory Structured Finance, 28 CARDOZO L. REV. 2185 (2007), David Reiss, Subprime Standardization: How Rating Agencies Allow Predatory Lending to Flourish in the Secondary Mortgage Market, 33 FLA. ST. U. L. REV. 985 (2006).
Posted by Jordan E. Bublick, Bankruptcy Attorney at 5:35 PM
Filed under: CDO, CORRUPTION, Eviction, foreclosure, foreign relations, GTC | Honor, Mortgage, politics, securities fraud | Tagged: borrower, disclosure, Federal reserve, foreclosure defense, foreclosure offense, fraud, Lender Liability, lost note, quiet title, rescission, securitization, TILA audit |
Can someone tell me the difference between a gang-banger, Wall Street and the Federal Government????????I need to know………Because I don’t see the difference……….Innocent victims and casualities, of a game of power and control over their lives, of which they weren’t able to be players of the game…………….
kathi
Kathi
Can someone tell me the difference between a gang-banger, Wall Street and the Federal Government????????I need to know………Because I don’t see the difference……….
Kathi
Where is the money?……………….But alas…………….Where was Washington?????????The FTC. HUD and all of those so-called National Consumer Advocates…………What a rip-off………………I know were Madoff was…..In this great country……….where the average Joe and I don’t mean Joe the Plumber, whose 15 minutes of fame reminds me of Kato Kaelin, during the O.J. Simpson ……….trial of the century……….is this what we are to instill to the nex generation of leaders????????????????
Kathi
Kathi
Where is the money?……………….But alas…………….Where was Washington?????????The FTC. HUD and all of those so-called National Consumer Advocates…………What a rip-off………………I know were Madoff was…..
Kathi