There is a real dust up brewing between foreclosure industry mouthpieces on one side and foreclosure defense warriors on the other side, the latter represented by foreclosure Godfather Tom Cox.
Chris Whalen is a banking industry apologist who clearly does not understand how his industry has devastated entire communities and our nation’s legal system. He asserts that new state and federal regulations that seek to reign in the out of control banks are going to far. Into this fray steps Tom Cox who penned a very thoughtful response:
[Editor’s note: Thomas Cox, the “hero” lawyer from Maine whose work is often credited with leading to the $25 billion National Mortgage Settlement, asked HousingWire to publish his reaction to another blog today where Christopher Whalen called the current regulatory environment “legalized extortion.” While HousingWire is not in the habit of airing personal attacks, Cox’s position and passion will hopefully prompt continued, constructive conversation on the sensitive and national topic of foreclosure. Here are those comments.]