2701 E Camelback Rd Suite 150 Phoenix, AZ 85016 602.774.3757 www.MortgageMediationGroup.com MORTGAGE MEDIATION GROUP 2201 ...
Mortgage Secruitization, “ Fraud”closure Crisis & How it Affects our Current Real Estate Market   MORTGAGE MEDIATION GROUP
The Mortgage Mediation Group is a practice group of the Law Firm of Thomson Law PLC. We provide Arizona Homeowners with a ...
<ul><li>Our Team has a combined 100+ years of Mortgage Lending experience  specifically in Risk Management, Capital Market...
About Kevin W. Hardin CMB, CMC, CMPS Kevin W. Hardin is a JD Candidate at Concord School of Law and recently passed the Ca...
MORTGAGE MEDIATION GROUP <ul><li>History Lesson Starting with August of 2007  </li></ul><ul><li>$12 Trillion in outstandin...
MORTGAGE MEDIATION GROUP So, what does a government do with the possibility of 700 million pissed off middle class Chinese...
MORTGAGE MEDIATION GROUP Enter the Blind Octopus from Stage Right At the start of the mortgage crisis we had hundreds of t...
MORTGAGE MEDIATION GROUP <ul><li>We are now pushing through 2008 and foreclosures exceed sales and foreclosure defense att...
MORTGAGE MEDIATION GROUP <ul><li>Law suits begin to fly </li></ul><ul><li>Foreclosures increase dramatically </li></ul><ul...
MORTGAGE MEDIATION GROUP <ul><li>GMAC / ALLY Bank halts foreclosures in 23 judicial foreclosure states </li></ul><ul><li>M...
MORTGAGE MEDIATION GROUP <ul><li>The term Fraudclosure and Foreclosure Gate is now coined to describe this mess </li></ul>...
MORTGAGE MEDIATION GROUP <ul><li>So, what does this mean for the market and foreclosures? </li></ul><ul><li>Increased Noti...
MORTGAGE MEDIATION GROUP Questions?
<ul><li>Mortgage Mediation Group </li></ul><ul><li>602.774.3757 </li></ul><ul><li>Visit our blog ( Blog.MortgageMediationG...
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Old republic webinar kevin hardin

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Old republic webinar kevin hardin

  1. 1. 2701 E Camelback Rd Suite 150 Phoenix, AZ 85016 602.774.3757 www.MortgageMediationGroup.com MORTGAGE MEDIATION GROUP 2201 E Camelback Rd Suite 118B Phoenix, AZ 85016 602.631.3700 www.OldRepublicTitle.com
  2. 2. Mortgage Secruitization, “ Fraud”closure Crisis & How it Affects our Current Real Estate Market MORTGAGE MEDIATION GROUP
  3. 3. The Mortgage Mediation Group is a practice group of the Law Firm of Thomson Law PLC. We provide Arizona Homeowners with a unique combination of legal representation and mortgage expertise to protect Client’s legal rights and assets during the resolution of their distressed Real Estate and/or Mortgage situation. MORTGAGE MEDIATION GROUP
  4. 4. <ul><li>Our Team has a combined 100+ years of Mortgage Lending experience specifically in Risk Management, Capital Markets, Compliance, Senior Management, Operations, Underwriting & Funding. </li></ul><ul><li>Legal expertise and supervision of the Managing Partner, Neil Thomson who has nearly 25 years of practicing law in AZ – specializing in RE Law, Contract Law, Corporate Law & Securities Law. </li></ul>MORTGAGE MEDIATION GROUP
  5. 5. About Kevin W. Hardin CMB, CMC, CMPS Kevin W. Hardin is a JD Candidate at Concord School of Law and recently passed the California Baby Bar Exam. Mr. Hardin is the subject matter expert and Specialized Paralegal for the practice group. Mr. Hardin Holds the CMB designation from the Mortgage Banker’s Association, a CMC designation from the National Association of Mortgage Brokers and the Certified Mortgage Planning Specialist designation. Mr. Hardin has spent 18 years working in Capital / Secondary Markets focused on regulatory, statutory and compliance issues. MORTGAGE MEDIATION GROUP
  6. 6. MORTGAGE MEDIATION GROUP <ul><li>History Lesson Starting with August of 2007 </li></ul><ul><li>$12 Trillion in outstanding mortgages in the US </li></ul><ul><li>$60 Trillion in securities and derivatives sold to the world made up of MBS, CMO, REMIC, CDO, CDO squared etc </li></ul><ul><li>Over $40 Trillion of that purchased by China, Asia, Middle East and European capital markets </li></ul><ul><li>Investors in these securities begin to see the risk in them and begin to pay less for them and the market collapses </li></ul>
  7. 7. MORTGAGE MEDIATION GROUP So, what does a government do with the possibility of 700 million pissed off middle class Chinese want their money back? LOAN MODIFICATION, SHORT SALES AND FORECLOSE AS FAST YOU CAN!
  8. 8. MORTGAGE MEDIATION GROUP Enter the Blind Octopus from Stage Right At the start of the mortgage crisis we had hundreds of thousands of trained, experienced loan officers that new how to handle borrower documents . Did we hire them to assist in the modifications? No, we made glorified book keepers at the servicers do this job and put all of the loan officers out of a job. Nothing like talking to a $15 per hour, rivet faced, tattooed assed kid about modifying, short selling or settle a mortgage deficiency to sell confidence.
  9. 9. MORTGAGE MEDIATION GROUP <ul><li>We are now pushing through 2008 and foreclosures exceed sales and foreclosure defense attorneys are attempting every strategy they can to stop foreclosure. </li></ul><ul><li>Foreclosure attorneys and Trustees under pressure by servicers to move quickly begin to grey out the line between right and wrong. </li></ul><ul><li>“ Produce the Note” foreclosure defense strategy becomes reality. </li></ul>
  10. 10. MORTGAGE MEDIATION GROUP <ul><li>Law suits begin to fly </li></ul><ul><li>Foreclosures increase dramatically </li></ul><ul><li>Robo Signers start receiving new BMW’s </li></ul>
  11. 11. MORTGAGE MEDIATION GROUP <ul><li>GMAC / ALLY Bank halts foreclosures in 23 judicial foreclosure states </li></ul><ul><li>Multiple requests by AG’s, agencies, politicians to stop foreclosures proliferate </li></ul><ul><li>BofA announces freeze, Chase announces freeze </li></ul><ul><li>Connecticut and New York stop all foreclosures </li></ul><ul><li>BofA expands freeze to all states </li></ul><ul><li>HR 3808 , a bill that would stop the courts from questioning out of state notary signatures and electronic signatures, passes both houses in voice vote . Wouldn’t want anyone to know who actually voted for it. President Pocket Vetoes it. </li></ul>
  12. 12. MORTGAGE MEDIATION GROUP <ul><li>The term Fraudclosure and Foreclosure Gate is now coined to describe this mess </li></ul><ul><li>Amherst Securities analyzes that we have over $150 Billion in non performing loans covered by the moratoriums in place and the number is rising. </li></ul><ul><li>Public learns that through the use of MERS the Note and the Deed of Trust / Mortgage had been separated at birth and all mortgages under MERS called into question. </li></ul><ul><li>Criminal investigations into the Fraudclosure mess is initiated by all 50 Attorneys General </li></ul><ul><li>Banks announce they are moving ahead with foreclosures anyway </li></ul><ul><li>Title companies agree to insure title on foreclosed homes as long as Servicers indemnify them from losses. </li></ul>
  13. 13. MORTGAGE MEDIATION GROUP <ul><li>So, what does this mean for the market and foreclosures? </li></ul><ul><li>Increased Notices of Trustee Sale but fewer actual foreclosures equals an increase of shadow inventory </li></ul><ul><li>Today with the slow down in foreclosure sales prices will and moved up on the last 30 days </li></ul><ul><li>When the properties being to hit the market, prices will drop </li></ul><ul><li>There will be more Title issues with REO’s and greater scrutiny slowing down sales </li></ul><ul><li>We still have not solved the problem that got us here………Mortgage Default </li></ul>
  14. 14. MORTGAGE MEDIATION GROUP Questions?
  15. 15. <ul><li>Mortgage Mediation Group </li></ul><ul><li>602.774.3757 </li></ul><ul><li>Visit our blog ( Blog.MortgageMediationGroup.com ) for more information on other topical subjects. </li></ul>MORGAGE MEDIATION GROUP MORTGAGE MEDIATION GROUP

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