Excellent post. A “traditional” mortgage loan never took place. These were NTMs (non-traditional mortgages) wherein there are no statutes that governs quasi-securities transactions – are there?
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There seems to be confusion about what is necessary to file a foreclosure. To start with the basics, the debt is created when the borrower receives the funds or when the funds are disbursed for the benefit of the borrower. This requires no documentation. The receipt of funds presumptively implies a loan that is…
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