The Mortgage Crisis in a Nutshell - A Video

Abstract

Before becoming a law professor, much of my work was as a litigator and appellate attorney. I became increasingly passionate about the problems that exist in the mortgage industry. I also became increasingly aware that most people, even very educated people, including lawyers, do not have a working knowledge of the big picture with regards to the mortgage crisis. Although people have often heard of “subprime loans,” or “robo-signing” or “securitization,” they are often unaware of how these buzz words fit into the full scheme.

As a result, with the help of a colleague named Erich Vieth, we put together a 52 minute video that covers the mortgage crisis in a nutshell. It is complete with some simple graphics and plain-spoken explanation. I chose to put my scholarship in a video so that 1) it could reach a wider audience, and 2) because the topic lends itself to clear, oral explanation.

I am providing the link to the video, which is publicly available. I have received comments from legislators, the media and other interested parties relating to the video. The video also appears on the National Consumer Law Center’s website. Although it is meant to simplify the mortgage crisis, it represents thousands of hours of reading and learning.

Keywords: mortgage crisis, MERS, securitization, video, robo-signing, trustee, undewriting, subprime, lending, notes, foreclosure