The Massachusetts Ibanez decision highlighted for all of us the fact that judges are increasingly aware…and incredulous…that these big shot lenders with their $1,000 an hour lawyers would be so careless and sloppy with the documentation relating multi million dollar’s worth of assets….
US BANK v. IBANEZ, SJC 10694, MASS 1/2011
What is surprising about these cases is”¦.the utter carelessness with which the plaintiff banks documented titles to their assets”¦
It’s just utter madness and sloppiness and arrogance. These evil machines that are the titans of international finance were so busy shoving all of America’s money into their pockets that they didn’t bother to follow even the most basic terms of their own contracts.
That’s apparently been no real problem for them so far because courts have continued to let them slide, ignoring the fact that they have in fact ignored the basic documentation requirements of their own contracts.
But the fact that they are ignoring their own contracts should be used in our cases to attack their ability to proceed….
Tom Adams also submitted an expert affidavit in the Congress case.
Unfortunately the lower court judge in the case was not particularly interested in ruling based upon these facts and expert witness testimony. Even if he had the decision wouldn’t have been very useful or earth shattering. A lower court decision in a non-judicial foreclosure state just doesn’t have much oomph.
I expect the case to be appealed to Alabama appellate court, and similar to the dynamics in other states, expect the appellate court to render a decision more accurately aligned with the facts.