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New York Versus Freddie Mac: Round One
An investor in Dubai, London or Hong Kong — or in San Diego, Orlando or Cleveland — has no way to oversee lenders in Poughkeepsie, Buffalo or Utica. Personal defenses include lack of consideration, set off and fraud.” In other words, even a mortgage created by fraud becomes legitimatized if the loan is bought in good faith. The worry is that they may be captured under the new state definition of “subprime” loans, a worry which New York Versus Freddie Mac: Round One By Peter G. Miller     It’s fight time in New York.
www.realtytrac.com - Tuesday, February 3, 2009
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  • New York Versus Freddie Mac: Round One
    An investor in Dubai, London or Hong Kong — or in San Diego, Orlando or Cleveland — has no way to oversee lenders in Poughkeepsie, Buffalo or Utica. Personal defenses include lack of consideration, set off and fraud.” In other words, even a mortgage created by fraud becomes legitimatized if the loan is bought in good faith. The worry is that they may be captured under the new state definition of “subprime” loans, a worry which New York Versus Freddie Mac: Round One By Peter G. Miller     It’s fight time in New York.
    www.realtytrac.com - Tuesday, February 3, 2009
    READ MORE