Today’s residential mortgage lender faces unprecedented enforcement challenges: by defaulting borrowers, a skeptical and activist judiciary, and regulators. This article examines some of the more serious legal issues mortgage lenders are facing and offers some practical solutions for overcoming these obstacles.
A. Loan Documentation and Chain of Title Defects—Standing to Sue. In recent months, the issue of standing has taken center stage in residential foreclosure proceedings. The issue drew national attention earlier this year when the Massachusetts Supreme Judicial Court issued its decision in U.S. Bank National Association v. Ibanez (and the related case of Wells Fargo Bank v. LaRace).1
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