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Channel: Comments on: Banks “Nothing to See Here” Versus Grim Reality on Foreclosure Front
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By: Pascal Blacque

Well OK … but for all his moderation, at least Professor Levitin clearly said PERFORMING notes were clouded as well, which –if true– could bring the whole housing financing market to its knees… and all...

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By: Yves Smith

I suggest you bone up on Constitutional law. The reading I got from DC is that this would be the mother of all constitutional battles, one Congress would be very loath to enter into. You’d need to...

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By: Robert M. Armstrong

I believe that in the past the mortgage holder held title to the property and could regain title in case of default. This is what allowed the resale of the property. Unfortunately the original...

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By: Pascal Blacque

So… what is to be done? Do you believe the States will commit economic/political suicide (a near certainty if all hell breaks loose) rather than agree/negotiate to put their constitutional power on...

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By: Psychoanalystus

It is amazing how bad this is getting as time passes. I am not referring only to the foreclosure mess, but to the entire unraveling of the American financial and economic system. It feels like the...

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By: ZADOOFKA FLORIDA

They kicked the can down the road by bailing out the TBTF banks 2 yrs ago. The can is now at the end of the cul de sac.

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By: readerOfTeaLeaves

I see the odds that the problems are “merely technical” as zero. Yves, it’s just been breathtaking to follow this blog the past few months. But this week has been a jaw-dropper. I am deeply grateful...

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By: KAH

Yves, Freddie and Fannie owns/backs at least 50% of all mortgages in the U.S. How does that fact affect this situation?

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By: AndyC

Yves I don’t know, you saw that “voice vote” which would have done a whole lot to paper this over, sure Obama vetoed it but I suspect that was merely done to push the decision off until after the...

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By: Dark Entropy 646

So, IMO the question is? MERS, no MERS or a hyper-MERS. It is known that power corrupts, while absolute power corrupts absolutely. Now, irresponsible and rogue persons inside the big (or I should say...

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