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Recent Decisions Dismissing Foreclosures

Law360 (July 28, 2008, 12:00 AM EDT) -- Recent years have witnessed explosive growth in the use mortgage-backed securities.

Although their exact structure can vary greatly, these securities typically represent claims to the cash flow from pools of residential mortgage loans. The normal course of mortgage-backed securitization begins with residential homeowners who purchase mortgage loans from individual banks and other lending institutions.

These mortgages are assembled by governmental, quasi-governmental and private entities and are then reissued as securities that represent claims to future principal and interest payments made by mortgagee homeowners.

There is little...
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