We all need to take a step back and stop beating up on, “The Banks”. “The Banks” are not alone in creating the foreclosure catastrophe that continues to play out. More than anything else, foreclosure is a manifestation of decades of failed government, economic and social policy.
The current phase that we’re in is just a manifestation of all that has gone wrong over years. The horses have all left the barn, the barn is burning, there are no more hinges on the doors, and yet some folks are still focused on how to close a barn door that is nothing but a charred bit of ashes.
I recognize that what’s happening in some foreclosure courtrooms is not good for any of us….not for consumers, not for The Banks and certainly not for the long term stability and integrity of the judicial system. In some areas, we’re seeing a dangerous form of judicial mania…something that goes far beyond judicial activism…with smart, experienced and knowledgeable judges jumping to respond to a tune called by the legislature…but it’s a tune that’s long since passed.
And soon….very soon…the courts and the general public will wake up and recognize that this fury to CLEAR THE FORECLOSURE DOCKET! Is not what this state really need.
There is so much not to like about the National Mortgage Settlement….but there are good parts that have and that will continue to produce favorable outcomes for Floridians. It ain’t great, but it does have elements that are worth respecting.
One of my biggest criticisms is the lack of participation from real consumer justice advocates. Where are the foreclosure defense attorneys? Where are the community leaders? Where are foreclosure judges? Not much involvement….and that’s a problem.
In the context of the NMS, I find myself defending The Banks and their attorneys, as recently quoted in the Palm Beach Post:
Bondi attached a fact sheet about the servicing standards that could impact foreclosure court rulings.
“All across the state, you have bank attorneys who are complaining about the abuses they are suffering at the hands of the court and judges forcing them to go to trial when they have not completed a loan modification analysis mandated by the national mortgage settlement,” said foreclosure defense attorney Matt Weidner.
[advanced-iframe securitykey=”a89b984039fb3b09578b3059dd44d761a319ccc0″ src=”https://blogs.palmbeachpost.com/realtime/tag/pam-bondi/” width=”1000″]
And especially see the letter below: