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.

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