http://jacksonville.bizjournals.com/jacksonville/stories/2010/04/05/story3.html
It's hard not to believe that the banks did know that MERs was against federal law, when you see the crap they were pulling behind the scenes to not have to be able to go in front of a judge to repossess a property.
Their greatest hope was that the Senate would set them free before the shit hit the fan, and they were publically exposed for their fraudulent behavior..
Lenders will be able to foreclose faster on property owners who opt for a process that sidesteps Florida’s clogged court system, according to a bill being proposed by state lawmakers.
The Homeowner Relief and Housing Recovery Act being proposed in the Florida House allows lenders a nonjudicial foreclosure option where the lender can foreclose by an auction, a short sale or an appraisal without going to the courts. But there’s a catch: The homeowner must agree to the option beforehand and has the right to object in court during the process.
A similar bill is also being proposed in the Senate. The bill “would help us get these properties out and resold” to be productive properties, which would restore neighborhood values, said Alex Sanchez, president and CEO of The Florida Bankers Association. “It also helps us bottom out faster so we can recover faster.”
There are 37 other states that have nonjudicial foreclosure,” Sanchez said. “It shows that’s the norm and it works in other places and it can work in Florida.”
Read more: Banks backing Florida fast-track foreclosure bills - Jacksonville Business Journal
Read more: Banks backing Florida fast-track foreclosure bills - Jacksonville Business Journal
