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11-27-2018, 11:28 AM #13
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- Join Date
- Jun 2017
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Part 3 - Probably covers the COJ's again--though seems redundant. Maybe this one will attack the lawyers.
Part 4 - Probably covers 1st Global/Carl Ruderman
This has a similar feel to the investigative pieces in the 2010's after the real estate market collapsed. Stories attacking the lenders, brokers, and courts/law firms that churned out foreclosure cases by the thousands. The fall out lead to some tightening in underwriting and legal process (e.g. additional closing docs and requiring banks to produce an original promissory note). In those cases, the issues were sexy because the "victims" were average consumers/families. In this case, the supposed "victims" are business owners, which is less likely to attract the attention of regulators.
I'm sure the author is on a crusade to crush the MCA industry, but I suspect these stories will add some minor obstacles to the underwriting and legal process.
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