I am amazed at the lack of outrage at the alleged problems in the mortgage industry. Or am I just missing it?
It seems like the mortgage industry may be going to sail through and come out the other side of this storm with very little to show in the way of change. The foreclosure and bankruptcy procedures followed (allegedly) by the mortgage companies include forcing lawyers to speed through their filings with little or no time to review anything; insisting on such speed that many law firms are using paralegals or secretarial help to create documents; having people creating assignments to cover the requirements of courts months or years after the fact; creating assignments to back up their allegations in pleadings; creating assignments that don't ever get attached to the original mortgage; not even having the original mortgage and/or note; having employees sign affidavits at the rate of one ever 2 or 3 minutes - with no time to confirm the contents; having affidavits notarized at another time and/or location from when/where they are signed....and on and on.
You would think this would cause an outcry among the attorneys practicing in the fields affected if not among the general public, but there is no real outcry that I am aware of. Oh sure, there are some out there that are posting every news article on the subject on facebook, twitter and linkedin (myself included), but the responses are few and far between.
The government regulators are absent. They even suggest that slowing down foreclosures might be a bad thing. Of course this is the same government that has been giving these major mortgage companies lots of our tax money, but hey - they are impartial, right?
So am I just missing something? I'd sure like to hear from those of you that are being affected by these issues.
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