Foreclosures Gone Wild!: Understanding The Legal Issues Surrounding The Recent Foreclosure Freezes & Investigations

An email authored by South Florida foreclosure defense attorney Michael Wrubel appears on the Livinglies weblog in which Mr. Wrubel gives his take on a recent Citigroup information release entitled “Foreclosures Gone Wild: Understanding the Legal Issues Surrounding the Recent Foreclosure Freezes and Investigations.”

The information is based on a conference call Citigroup recently hosted, featuring speaker Adam Levitin, an Associate Professor of Law at Georgetown University. Levitin's presentation to the attendees is described to have painted "one of the bleaker portraits" regarding the legal issues surrounding the way mortgage loans have been "sliced & diced," "flipped around," and otherwise kept track of.

Based on the information reported, it appears, in my view, that Citigroup may be beginning the process of 'gently' breaking the news to its investors that they have a serious ("FUBAR") problem with the way mortgage loans have been securitized.

For more, see Livinglies: ADMISSION THAT SECURITIZATION TRANSFERS NEVER HAPPENED.

For the Citigroup information, release, see, “Foreclosures Gone Wild: Understanding the Legal Issues Surrounding the Recent Foreclosure Freezes and Investigations.”

Thanks to Deontos .is for the heads-up on the story.