Sunday, December 11, 2011

Maine Supremes Side w/ Bankster In High Profile Robosigning Case; OKs Lower Court Ruling Finding No Contempt When Lender Filed Faulty Paperwork

In Portland, Maine, The Portland Press Herald reports:

  • By a 5-1 decision released this morning, the Maine Supreme Judicial Court upheld a lower court ruling that allowed loan servicer GMAC Mortgage, despite admittedly flawed practices involved in affadavit signing, to foreclose upon a home in Denmark purchased in 2003 by Nicolle M. Bradbury.

  • Through the work of her attorney, Thomas A. Cox, a retired lawyer who volunteers for Pine Tree Legal Assistance, Bradbury had successfully fended off foreclosure by exposing so-called "robo-signing" practices of lender employees with little or no knowledge of the individual mortgages who nonetheless signed hundreds of affadavits each day.

  • The Bridgton District Court partially sided with Bradbury, in ordering the Federal Naitonal Mortgage Association (Fannie Mae) to pay nearly $24,000 in legal fees. Cox also wanted the lender found in contempt and the foreclosure dismissed, but the state supreme court disagreed.

Source: Court upholds ruling in robo-signing foreclosure (A Denmark woman whose case touched off a national uproar over foreclosures with faulty paperwork may finally lose her home).

For the ruling, see FNMA v. Bradbury, 2011 ME 120 (Me. December 6, 2011).

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