Here's a big opportunity for the President to step up

[depakid]

and show people whose side he's on:

Bank foreclosure cover seen in bill at Obama's desk

A bill that homeowners advocates warn will make it more difficult to challenge improper foreclosure attempts by big mortgage processors is awaiting President Barack Obama's signature after it quietly zoomed through the Senate last week.

The bill, passed without public debate in a way that even surprised its main sponsor, Republican Representative Robert Aderholt, requires courts to accept as valid document notarizations made out of state, making it harder to challenge the authenticity of foreclosure and other legal documents.

The timing raised eyebrows, coming during a rising furor over improper affidavits and other filings in foreclosure actions by large mortgage processors such as GMAC, JPMorgan and Bank of America.

Questions about improper notarizations have figured prominently in challenges to the validity of these court documents, and led to widespread halts of foreclosure proceedings.

The legislation could protect bank and mortgage processors from liability for false or improperly prepared documents.

The White House said it is reviewing the legislation.

"It is troubling to me and curious that it passed so quietly," Thomas Cox, a Maine lawyer representing homeowners contesting foreclosures, told Reuters in an interview.

More: http://www.reuters.com/article/idUSTRE6955YX20101006?pageNumber=1

[kenny blankenship]

1. See? A Democratic Senate *CAN SO* act expeditiously!

When it wants to.

[tavalon]

12. On a republican bill that slipped completely under the radar

and is helpful to mortgage companies not home owners.

[FrenchieCat]

2. Ooh! A Depakid Presidential Test!

You know he's gonna fail!

or I know you are crossing your fingers in hoping he does! :woohoo:

And even if he passed, by then, you will have moved the goalpost to something else. :eyes:

[depakid]

4. He'll either do the right thing- or he won't

Based on the secretive process alone, this deserves to be vetoed.

[FrenchieCat]

5. Do we have a copy of this bill.....

or do you only have a reuter story on this bill?

Have you read it? Do you have a link, so that I can read it?
Since it's a presidential test and all,
I would want the teacher administering the test to be "informed".

[Name removed]

7. Deleted message

Message removed by moderator. Click here to review the message board rules.

[FrenchieCat]

8. Do you have a different Link......

Cause the link you provided went to "Library of Congress"...Temporary file not found. Display failed.

[depakid]

9. Works for me on this thread in LBN:

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=102&topic_id=4566941&mesg_id=4567031

Otherwise, you'll have to search Thomas with the bill number and/or title, which is in my post there.

[FrenchieCat]

10. Thanks!

The link there worked.

[glowing]

3. I think we need to contact the white house. he doesn't want to bail them out again this close to an

election. need to make some noise.

[EC]

6. I hope he vetoes

but wouldn't that put us back to Sept. 08? Wouldn't this break all the same banks, since it was all these mortgages that they bundled up into AAA ratings?

[jeanpalmer]

11. "...Senator Robert Casey,

shepherding last-minute legislation on behalf of the Senate leadership..." Hmmm, could that be on behalf of Harry Reid? Senator of the foreclosure capital of the world? I can see why he wouldn't want his fingerprints on it.

[great white snark]

13. Other than resigning, could the President ever do right in your eyes?

Just wondering.

[depakid]

14. So you think he should sign the legislation?

Just wondering.

[FrenchieCat]

16. So Depakid, are you going to start an OP giving some praise

if indeed he "stands up".....?

[depakid]

27. Here's a case where half a loaf is better than no loaf

Could be that forcing debate and putting members of Congress on the record will kill the legislation. Could also be that they go through the process openly and he's satisfied with "the clarifications."

As I suggested to you up thread, he should have killed this on the basis of secrecy alone. Which he did. I think.

Taking a stand would have been better- but in either case he stopped a politically damaging controversy from growing.

So half a props for half a loaf!

Full props when he takes a stand on the issue.

[jenmito]

30. You only give him "half a props for half a loaf"? Please-he refused to sign it! He

effectively vetoed it, but this is the best you can do after you started this thread?

[Vinca]

15. I don't see how he can sign this when it appears documents

were signed and notarized without being read. You could accept a properly notarized document from another state, but apparently people were hired as "signers" and didn't have a clue what was in the papers and could not swear to anything in front of a notary. This is like executing everyone accused of murder without a trial.

[AtomicKitten]

17. He stepped up and vetoed it. Now will you step off?

[CakeGrrl]

18. Seriously. Crickets would be nice right about now. n/t

[PopSixSquish]

19. He Stepped Up and Didn't Sign It

So he's on your side correct?

[depakid]

26. Actually we still don't know on this issue- because the whitehosue didn't take a position

Here's Gibb's statement:

The President will not sign H.R. 3808. Our concern is unintended -- the unintended consequences on consumer protections, particularly in light of the home foreclosure issue and developments with mortgage processors. So the President is exercising a pocket veto, sending that legislation back to Congress to iron out some of those unintended consequences.

So what it looks like, as I suggested above, he didn't sign it based on the basis of the secretive procedures used (which looked really suspected- and were generating outrage). Doesn't mean that he won't sign off on it after public debate and a vote on the record. Doesn't mean he will, either.

[jenmito]

20. Why no comment from you on THIS thread?:

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=433&topic_id=468758&mesg_id=468758

[FrenchieCat]

21. Depakid only comes out at night, right?

:shrug:

[jenmito]

22. That MUST be it!

Otherwise, he'd be there. Wouldn't he? :shrug:

[scheming daemons]

23. Now that Obama is NOT signing this... is it any wonder that the OP has gone silent?

[PopSixSquish]

25. Now, Now - It's Only 9:15am in the Morning in Australia

Maybe the OP hasn't had his morning coffee and logged onto DU just yet...

;)

[Radical Activist]

24. Now we know what side he's on. The side of the people!

It's nice to see the cynics proven wrong, yet again.

[vaberella]

28. Proven wrong and left speechless. I guess your hopes have fallen flat. n/t

[jenmito]

29. Kick.