Banking,
Appellate Practice,
9th U.S. Circuit Court of Appeals
Jul. 24, 2017
Who is going to mind the banks now?
In the wake of the mortgage crisis, legislatures began enacting statutes to prevent it from happening again. There are now specific rules regarding mortgage transfers and bundling. Yet a recent decision from the 9th Circuit takes the teeth out of these rules.
Polly Estes
Of Counsel
California Appellate Law Group LLP
Email: polly@esteslawgroup.com
California Appellate Law Group is an appellate boutique based in San Francisco. She served for more than a decade as a 9th Circuit law clerk. Find out more at www.calapplaw.com.
APPELLATE ZEALOTS
The 2007 mortgage crisis and resulting recession were some of the worst economic events in modern-day U.S. history. The crisis had many causes, but the indiscriminate bundling of mortgages into trusts for sale to other financial institutions certainly contributed. Bundling was an ideal tool for banks to transfer subprime mortgages that were likely to default onto another bank because each trust often ...
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