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MERS Standing: Its Impact on Title Insurance
As long as most title underwriters ' the individuals, not the companies ' can remember, mortgages have always been assigned and the assignments were always recorded in the Office of the Clerk or City Register for the county in which the real property is located. With the advent of the Mortgage Registration System (MERS), this procedure changed. Instead of recording mortgage assignments in the local land records, lenders started recording assignments within the MERS computer system, thus eliminating the need for paper assignments with signatures and notaries, a public assignment chain and most of all, recording costs. Within a few years, MERS became a huge success with lenders. Currently, millions of mortgages and their assignments are in the MERS system. Title underwriters (the companies this time) went along and continued, albeit reluctantly, to insure transactions where the mortgage assignment chain was within MERS and not on the public record.
When the Bubble Burst
The DOJ's New Parameters for Evaluating Corporate Compliance Programs
The parameters set forth in the DOJ's memorandum have implications not only for the government's evaluation of compliance programs in the context of criminal charging decisions, but also for how defense counsel structure their conference-room advocacy seeking declinations or lesser sanctions in both criminal and civil investigations.
The DOJ's Corporate Enforcement Policy: One Year Later
The DOJ's Criminal Division issued three declinations since the issuance of the revised CEP a year ago. Review of these cases gives insight into DOJ's implementation of the new policy in practice.
Use of Deferred Prosecution Agreements In White Collar Investigations
This article discusses the practical and policy reasons for the use of DPAs and NPAs in white-collar criminal investigations, and considers the NDAA's new reporting provision and its relationship with other efforts to enhance transparency in DOJ decision-making.
Bankruptcy Sales: Finding a Diamond In the Rough
There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.
A Lawyer's System for Active Reading
Active reading comprises many daily tasks lawyers engage in, including highlighting, annotating, note taking, comparing and searching texts. It demands more than flipping or turning pages.