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On the Show today Bill and I will address the following:
How MERS misused the transfer of Aurora servicing rights to Nationstar, all starting out of the Lehman Brothers BK following the Mortgage Meltdown.
How borrowers can use these servicer bankruptcies, particularly the one of Ditech, to advance the following:
- Using notices (of the Ditech) of stay to manage litigation options;
- Ditech's non-judicial foreclosure auctions are apparently on hold, due to the automatic stay rules and restrictions on recording documents, in their BK. Judicial actions by Ditech should be on hold too. These restrictions even limit Ditech's ability to direct the removal of Lis Pendens in lawsuits in which they received a judgment.
How Ocwen may be using a recent merger with PHH to shore up their book of business, to ameliorate credit issues or avoid bankruptcy.
