Consolidation v. Concentration: The Real Risk in Default Servicing

BY JAMES E. ALBERTELLI, ESQ. It ain’t what you don’t know that gets you into trouble. It’s what you know for sure that just ain’t so. – Mark Twain Legal and compliance officers representing mortgage servicers often cite concentration risk as a justification for maintaining an expansive network of legal service providers. It “just ain’t so.” …

Court Rules Debtors Who Surrender Property in Bankruptcy Cannot Oppose Foreclosure

Citibank Wins Florida Foreclosure Bankruptcy Appeal The U.S Court of Appeals for the Eleventh Circuit has ruled that a debtor who elects to “surrender” a property in bankruptcy may not oppose a foreclosure action on the same property in state court. According to the Court, to “surrender” a property under the Bankruptcy Code, 11 U.S.C. § 521(a)(2), …