Katherine Porter’s Dogged Work Helps Get Servicing Standards Implemented in California

By: Wednesday October 3, 2012 8:55 am

Today is the first day that the servicing standards for the foreclosure fraud settlement go into effect.


FDL Book Salon Welcomes Katherine Porter, Broke: How Debt Bankrupts the Middle Class

By: Sunday March 25, 2012 1:59 pm

Katherine Porter’s book, Broke: How Debt Bankrupts the Middle Class, is a group of essays based on the 2007 Consumer Bankruptcy Project. The 2007 CBP collected basic information on substantially all Chapter 7 (liquidation) and Chapter 13 (partial repayment plans) cases filed for five consecutive weeks in early 2007, and selected 1000 cases per week for detailed study. The researchers collected data from a) the petitions filed by the debtors, which contain enormous detail about their financial condition; b) other court records; c) questionnaires from about half of the cases; and d) interviews of about 20% of the filers. That is a wonderful cross-section of Americans whose finances were destroyed just before the Great Crash.

Katherine Porter Named as Enforcement Monitor for California Side Deal in Foreclosure Fraud Settlement

By: Saturday March 17, 2012 4:00 pm

I’ve met Katie Porter one time. She writes at Credit Slips and, back in 2007, did one of the first clinical studies of mortgage servicer misbehavior and abuse, in that case with respect to bankruptcy. She is one of the pre-eminent legal scholars in this field, and she knows every single trick that the servicers have done over the past decade. There are few other people as equipped to handle the job of the monitor than her, in my estimation. And I hope that she uses this pathway, with the evidence she will compile, to make a broader effort to blow the whistle on a broken and corrupt mortgage servicing industry. And that’s likely.

85% of Mortgage Transfers Were No Good

By: Thursday February 16, 2012 3:17 pm

That’s a pretty startling headline, isn’t it? Yet, that was the conclusion reached by study of 400 foreclosure files commissioned by San Francisco County assessor-recorder Phil Ting.

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