Thorne v. Prommis Solutions.

It seems Prommis Solutions is in a heap of trouble with class action law suits, but they may have an escape hatch in consequence of registering in Delaware. The suit in Mississippi outlines their modus operandi. It’s possible the judge will feel overwhelmed.

Turning lawyers into middlemen and a constant stream of revenue is only particularly pernicious because lawyers are supposed to be ethical. Prommis got almost a monopoly on the foreclosure business by buying up law firms and promising the money men they would take care of all the bankruptcy and settlement proceedings for free. The costs were simply added on to the lawyer’s fees, which would then be ordered to be paid by the court.

It really wasn’t all that innovative. After all, the costs of real estate transactions (realtor, survey, title, appraisal) were routinely incorporated in the sales price and covered by the mortgage loan. Applying the same bundling of costs to the unraveling of the transaction is almost a no-brainer, once one assumes that default and bankruptcy are a legitimate enterprise to be milked for all it’s worth.

I’m still wrestling with how to characterize apparent equity as a fraud. Take Chambliss paying the official appraised value for a lot, or take condominiums having no value assigned to their land or common areas, or mortgage companies getting legal services for free. When privilege involves an absence of deprivations, which are generally applied, how do we classify that as a crime? Is privilege inherently unjust? In the parable of the unjust steward, the steward writes down his master’s debtors’ debts. He, in effect, steals from his master, but because he doesn’t keep the proceeds for himself, it’s not technically a theft. How do we define the deprivation of one person to advantage another? How about advantaging one person to deprive another?

Who does this? The malevolent middleman. The instigator. The snake in the garden. Why don’t we recognize it? Because we don’t expect middlemen to lie. Why not? Is it just a matter of honest people not being aware? The invisible middleman.