Friday, November 26, 2010
Wednesday, November 24, 2010
Tuesday, November 23, 2010
101116-Kemp v CountryWide NJ
101116-Kemp v CountryWide NJ: "
Under New Jersey law, the enforcement of a promissory note that is
secured by a mortgage is governed by the UCC. The note, at issue here, made
payable to Countrywide, providing for interest and an unconditional promise to
pay the lender, is a "negotiable instrument" under the New Jersey UCC, which
defines a negotiable instrument as "an unconditional promise or order to pay a
fixed amount of money, with or without interest or other charges described in
the promise or order, if it: (1) is payable to bearer or to order at the time it is
issued or first comes into possession of a holder; (2) is payable on demand or at
a definite time." N.J.S.A. 12A:3-104. A party is entitled to enforce a negotiable
instrument if it is "the holder of the instrument, a nonholder in possession of
the instrument who has the rights of a holder, or a person not in possession of
the instrument who is entitled to enforce the instrument pursuant to
12A:3-309 or subsection d. of 12A:3-418." N.J.S.A. 12A:3-301. In this case,
the creditor may not enforce the instrument under
Under New Jersey law, the enforcement of a promissory note that is
secured by a mortgage is governed by the UCC. The note, at issue here, made
payable to Countrywide, providing for interest and an unconditional promise to
pay the lender, is a "negotiable instrument" under the New Jersey UCC, which
defines a negotiable instrument as "an unconditional promise or order to pay a
fixed amount of money, with or without interest or other charges described in
the promise or order, if it: (1) is payable to bearer or to order at the time it is
issued or first comes into possession of a holder; (2) is payable on demand or at
a definite time." N.J.S.A. 12A:3-104. A party is entitled to enforce a negotiable
instrument if it is "the holder of the instrument, a nonholder in possession of
the instrument who has the rights of a holder, or a person not in possession of
the instrument who is entitled to enforce the instrument pursuant to
12A:3-309 or subsection d. of 12A:3-418." N.J.S.A. 12A:3-301. In this case,
the creditor may not enforce the instrument under
Monday, November 22, 2010
FT Alphaville » That mysterious missing mortgage note
FT Alphaville » That mysterious missing mortgage note: "That mysterious missing mortgage note
Posted by Tracy Alloway on Nov 22 14:12.
Whoops. Securitisation snafu straight ahead.
The New York Times picked up on small court case — with big implications — over the weekend. According to testimony by a Bank of America executive, and presented as part of a New Jersey bankruptcy judge’s opinion, Countrywide (now part of BofA) may have missed out on a rather important bit of the securitisation process.
From John Kemp vs Countrywide (via Scribd):
- Sent using Google Toolbar"
Posted by Tracy Alloway on Nov 22 14:12.
Whoops. Securitisation snafu straight ahead.
The New York Times picked up on small court case — with big implications — over the weekend. According to testimony by a Bank of America executive, and presented as part of a New Jersey bankruptcy judge’s opinion, Countrywide (now part of BofA) may have missed out on a rather important bit of the securitisation process.
From John Kemp vs Countrywide (via Scribd):
- Sent using Google Toolbar"
Monday, November 15, 2010
Live Call: Lowe's Companies Earnings Conference Call (Q3 2010) - Yahoo! Finance
Live Call: Lowe's Companies Earnings Conference Call (Q3 2010) - Yahoo! Finance: "Lowe's Companies Earnings Conference Call (Q3 2010)
Scheduled to start Mon, Nov 15, 2010, 9:00 am Eastern
- Sent using Google Toolbar"
Scheduled to start Mon, Nov 15, 2010, 9:00 am Eastern
- Sent using Google Toolbar"
Subscribe to:
Posts (Atom)
Posts
