Improperly Documented Foreclosures
2/17/2011 - Lindsay Petrone
A case decided by the Massachusetts Supreme Court could have a devastating effect on property acquired by foreclosure if followed by the California courts. In U.S. Bank, N.A. v. Ibanez (SJC-10694), decided on January 7, 2011, the court ruled against foreclosing lenders who improperly documented their assigned mortgage interests and those who purchased the foreclosed properties.
In U.S. Bank, a mortgage was assigned “in blank” (the assignment did not specify the name of the assignee) to multiple successive lenders, eventually becoming part of a mortgage-backed security asset pool. The mortgage-backed security asset pool involved a private placement memorandum (an unsigned…
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This Week - SOMA Parking; Redevelopment; Incentives For Mid-Market
2/9/2011 - John Kevlin
Changes in South of Market Parking Requirements Considered by Planning Commission, Board of Supervisors
For some time, San Francisco has been a national leader in urban planning. Over the past few years, the city has strived to maintain that role through promoting New Urbanism and “livable city” initiatives that make it a more comfortable place to work and live. City officials, planners and public policy advocates have been increasingly emphasizing the need for dense, transit-oriented development, more pedestrian- and bike-friendly streets, and reducing traffic congestion. To that end, one of the major evolutions in the city’s Planning Code has been…
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