About | HeinOnline Law Journal Library | HeinOnline Law Journal Library | HeinOnline
LOG IN
LOG IN

40 W. St. U. L. Rev. 31 (2012-2013)
Robosigning Foreclosures: How It Violates Law, Must Be Stopped, and Why Mortgage Law Reform Is Needed to Ensure the Certainty and Values of Real Property

handle is hein.journals/wsulr40 and id is 35 raw text is: Robosigning Foreclosures: How It Violates Law, Must Be Stopped, and Why Mortgage Law Reform Is Needed to Ensure the Certainty and Values of Real Property Gregg H. Mosson* INTRODUCTION............................................................ 32 I. THE RAPID EXPANSION OF MORTGAGE-BACKED SECURITIES, THE HOUSING BUBBLE COLLAPSE, AND THE CHOICE TO ROBOSIGN ......... . 33 II. ROBOSIGNING IN MARYLAND AS A NATIONAL EXAMPLE AND THE AFFECTED VALUES OF REAL PROPERTY .............................. 44 A. Revelations Sweep Across Maryland ........................ 44 B. Affected Values of Real Property ............................... 48 III. LEGAL VIOLATIONS BY ROBOSIGNING ATTORNEYS .................... 50 A. Fraud on the Court............................................. 50 B. Fraud as Officers of the Court .................................. 51 C. Undermining Real Property, Commercial Law, and Committing Crimes ............................................. 53 IV. VIOLATING THE RULES OF PROFESSIONAL CONDUCT .................. 54 A . C om petence.................................................... 54 B . C andor ........................................................ 54 C. Joint Liability . ........................................ 55 D . M isconduct Liability ........................................... 56 E . C onclusion ..................................................... 56 V. REFORMING REAL PROPERTY AND FORECLOSURE LAW ................ 57 A . Proposals for Reform ........................................... 58 1. States Should Enact Real Property Protection and Securitization Transparency Acts........................ 58 2. States Should Enact a One-Year Re-Filing Bar for Any Dismissed Foreclosure................................ 63 3. Mortgage Lending Requires Standards That Boost Stability... 64 4. Courts Must Dismiss Robosigning Cases With Prejudice or Impose Fines ...................................... 66 B. The National Mortgage Settlement and What Remains to Be Done .......................................... 67 C. Plaintiffs' Power and Limits .............................. 70 VI. CONCLUSION ...................................................... 71 * Associate, Lebau & Neuworth, LLC, of Maryland. J.D., Summa Cum Laude, University of Baltimore School of Law; M.A., Johns Hopkins Writing Seminars; Associate Comments Editor, University of Baltimore Law Review (2011-2012). I thank Professors Richard Bourne, John Bessler, and Audrey McFarlane of the University of Baltimore School of Law for their invaluable advice and critique. This article could not have been completed without them.

What Is HeinOnline?

HeinOnline is a subscription-based resource containing thousands of academic and legal journals from inception; complete coverage of government documents such as U.S. Statutes at Large, U.S. Code, Federal Register, Code of Federal Regulations, U.S. Reports, and much more. Documents are image-based, fully searchable PDFs with the authority of print combined with the accessibility of a user-friendly and powerful database. For more information, request a quote or trial for your organization below.



Short-term subscription options include 24 hours, 48 hours, or 1 week to HeinOnline.

Purchase Access

Contact us for annual subscription options:

Contact Us

Already a HeinOnline Subscriber?

Log In

profiles profiles most