The Brewing MERS Crisis: Everyone Loses, New York Law Journal

By Adam Leitman Bailey and Dov Treiman In Homer’s Odyssey, the protagonist, Odysseus, is called upon to sail his crew through the Straits of Messina, passing between two legendary monsters, Scylla and Charybdis. To avoid one, the only option was to approach the other, risking a horrible death in either instance. Odysseus was at times  Full Article…

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Moving Beyond the Mistakes of MERS to Have A Secure and Profitable National Title System, ACREL News

By Adam Leitman Bailey and Dov Treiman In Homer’s Odyssey, the protagonist, Odysseus, is called upon to sail his crew through the Straits of Messina, passing between two legendary monsters, Scylla and Charibdis. To avoid one, the only option was to approach the other, risking a horrible death in either instance. Odysseus was at times  Full Article…

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In a Mortgage Foreclosure, Having Possession of the Mortgage Is Not Enough, Real Estate Law & Industry Report

By Jeffrey R. Metz However intuitive it may seem that the party who controls a mortgage should have the right to foreclose, the courts are casting doubt on that assumption. The issue has come to light in connection with mortgages in the Mortgage Electronic Registration System (MERS), which has commonly served as a mortgagee for  Full Article…

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The New Rules of Foreclosure Litigation, New York Law Journal

The New Rules of Foreclosure Litigation By Adam Leitman Bailey and Dov Treiman Since the first loans and mortgages changed hands with cloaks and stone in Israel[1] and Greece[2] thousands of years ago[3], never previously had mortgages caused a worldwide economic collapse of financial markets. Unfortunately, as the federal and state government as well as  Full Article…

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Moving Beyond the Mistakes of MERS to Secure a Profitable National Title System, ABA Probate & Property

by Adam Leitman Bailey, Dov Treiman Adam Leitman Bailey is the principal of Adam Leitman Bailey, P.C., in New York, New York. Dov Treiman is a partner in the New York, New York, office of Adam Leitman Bailey, P.C. In Homer’s Odyssey, Odysseus is called on to sail his crew through the Straits of Messina,  Full Article…

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Growing Fraud: Self-Help Measures Can Head Off Problems, New York Law Journal

By Adam Leitman Bailey and Carly Greenberg Today’s bank robbers rarely use a mask and gun. The crimes are usually completed at a real estate transaction’s closing table. According to the Federal Bureau of Investigation, lenders incurred more than $1 billion in mortgage losses in 2005 as a result of fraud.1 During this same time  Full Article…

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Title Litigation: Expense of Theft Prevention Dwarfed by the Cost of Fraud, New York Law Journal

By Adam Leitman Bailey At the start of this new millennium, the most effective means to rob a bank no longer includes the use of a gun. The real estate closing table has replaced the gun and mask as the most favored and effective tool of theft from financial institutions. As the New York Times  Full Article…

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State High Court Decision Exorcises Ghosts of Liens Past, New York Law Journal

By Adam Leitman Bailey and Dov Treiman Secured borrowing and the transfer of money are the bedrock of the global financial system. However, that system finds itself in crisis. Before the current malaise can end, the system must rebuild in a manner that ensures mutual trust between lenders and borrowers. Rapid repair of the economy  Full Article…

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