Abstract

http://ssrn.com/abstract=2082374
 
 

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Why Mortgage 'Formalities' Matter


David A. Dana


Northwestern University - School of Law

June 8, 2012

Loyola Consumer Law Review, Vol. 24, p. 101, 2012
Northwestern Public Law Research Paper No. 12-14
Northwestern Law & Econ Research Paper No. 12-06

Abstract:     
This Article argues that adherence to mortgage formalities regarding foreclosure is valuable for expressive reasons and also as a potential deterrent to future undesirable underwriting and securitization practices. The Article reviews how some courts have in effect written procedural requirements for foreclosure out of the law, and asks why these courts have done so and whether lenders' behavior might have been improved during this housing crisis had the state courts uniformly afforded equal respect to the legal rights of homeowners and those of lenders.

Number of Pages in PDF File: 20

Keywords: Mortgage, Foreclosure, Courts

JEL Classification: K10, K11, K19,

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Date posted: June 12, 2012  

Suggested Citation

Dana, David A., Why Mortgage 'Formalities' Matter (June 8, 2012). Loyola Consumer Law Review, Vol. 24, p. 101, 2012 ; Northwestern Public Law Research Paper No. 12-14; Northwestern Law & Econ Research Paper No. 12-06. Available at SSRN: http://ssrn.com/abstract=2082374

Contact Information

David A. Dana (Contact Author)
Northwestern University - School of Law ( email )
375 E. Chicago Ave
Unit 1505
Chicago, IL 60611
United States
312-503-0240 (Phone)
312-503-2035 (Fax)
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