It has been a few days since Massachusetts' highest court repudiated two foreclosures in the state, sending servicers (and financial journalists) into a frenzy trying to figure out what it all means. According to one press report the ruling "could scuttle other foreclosure cases statewide and may portend similar blows to the industry elsewhere." Indeed, the ruling will hurt foreclosures in Massachusetts, at least over the short-term, but according to a new report from Credit Suisse, "While this ruling represents legal precedence which may serve to influence future court rulings, we do not necessarily look to other states to follow this interpretation." Of course, it's all guesswork at this point…
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