Under these programs borrowers are required to  furnish confidential sensitive financial information to lenders prior to mediation, yet the lenders furnish no information regarding their financial stability to the borrowers.  As a result, lenders are armed with extensive information before they begin negotiations, while borrowers are left in the dark. 

 

Florida law has long held that personal finances are among those private matters kept secret by most people.  Additionally, the Florida Constitution protects the financial information of individuals. Florida even has a right to privacy set forth in its own constitution which "expresses a policy that compelled disclosure through discovery be limited to that which is necessary for a court to determine contested issues."

 

At the time of mediation, the borrower's financial solvency and net worth are not being contested nor adjudicated. Moreover, the lenders assumed the risk of initiating a loan at the loan's underwriting stage. Thus, there is nothing in the note or mortgage that requires the disclosure of personal financial information after the loan's inception.

 

The disclosure of financial information by the borrowers is an invasion of privacy and may cause irreparable harm given that the lenders have an unequal bargaining position.

The bizzare story of North Korea's World Cup team continues.  The North Korean soccer team had an unfortunate run at the World Cup tournament this past June losing all three matches played and consequently being eliminated in the first group phase. Since the players and coach's return to North Korea, they have been allegedly punished according to reports from Radio Free Asia and the South Korean media.