•  
  •  
 

Authors

Kermit J. Lind

Document Type

Article

Media Type

Text

Abstract

This article begins by describing the paradigm shift in mortgage loan servicing produced over the past two decades by securitization and exotic financing products using residential property for collateral. It shows how current mortgage servicing and debt collection practices ignore mortgage collateral and renders conventional housing code compliance procedures obsolete. It then suggests that new strategic thinking is needed to redesign and retool code compliance processes. Residential neighborhoods and communities need to protect themselves against the wanton lending and servicing practices produced in the wake of the mortgage disaster. There is still immanent disaster not only from the new financial practices but also from some of the policies and programs initiated at the national level to protect big financial institutions from the consequences of their mortgage madness.

First Page

445

Last Page

472

Publication Date

6-1-2012

Department

Other

ISSN

0734-1490

Language

eng

Publisher

Northern Illinois University Law Review

Included in

Law Commons

Share

COinS
 
 

To view the content in your browser, please download Adobe Reader or, alternately,
you may Download the file to your hard drive.

NOTE: The latest versions of Adobe Reader do not support viewing PDF files within Firefox on Mac OS and if you are using a modern (Intel) Mac, there is no official plugin for viewing PDF files within the browser window.