More thoughts and dissection.
This one–the Yvanova decision by the California Supreme Court–was a no-brainer, of course. Had the Court ruled that homeowners cannot challenge a bogus assignment, there would be no point in a bank or other purported holder of California mortgages following the law about assignments at all, because they’d never be challenged. And what would be the result? An absolutely broken system of keeping up with what person owns what property. Which is kinda already the case, but that’s another story.
First, a little background…
Two of the major hallmarks of wrongful, fraudulent foreclosure were present in the Yvanova situation:
1. Zombie assignments: Defunct and/or bankrupt company assigns a mortgage or deed of trust years after said company has been dissolved. In the Yvanova case, New Century was liquidated in 2008 but supposedly assigned Yvanova’s deed of trust to Deutsche Bank in 2011.
2. Closed pools: By…
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