When all is said and done the courts come back to the main premise, “Did you pay?”. That is so injudicious on so many levels. The deeper we get into securitization and contract law we soon realize (after dissection) there is one very basic question being ignored – “Is the Promissory Note even enforceable?”

Sheila Bair’s (former FDIC Chairperson) new book, Bull By the Horns, addresses issues that must be taken into careful consideration when considering the validity of foreclosures – and she does it with impressive candor. Sheila separates the MBS into 2 categories:

The commenting period for the proposed amendments to the Consumer Financial Protection Bureau (CFPB)’s TILA/RESPA rules is open until March 16, according to the Federal Register website.
The proposed amendments were first published in the Federal Register on December 15. CFBP’s mortgage rules were first proposed in 2013 and went into effect in January 2014; the proposed amendments to the rules are under the Real Estate Settlement Procedures Act (Regulation X, or REPSA) and the Truth in Lending Act (Regulation Z, or TILA).

via Comment Period for Amendments to CFPB’s TILA/RESPA Rules Open Until March 16 – DSNews.