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If a settlement takes place mustn't the mortgage must be released at closing by the current mortgage owner (who’s that?) before a new mortgage with title insurance is issued.

Specifically, if the title company is not satisfied that there is a good release on the old mortgage, won't it refuse to insure a new mortgage?

Same applies if paid in cash – still need title insurance with homeowner as named insured. No?

If they won’t that means bad title and no standing. Title companies are in bad shape already.

The last thing they need is carrying even more bad paper.

These and many other issues will need to be considered...carefully...in the smoky haze of the Unholy Alliance back room.

Are we on the precipice of Great Change?

I hope so; a Special Master may have appeared. One that the Unholy Alliance will have to answer to.

"Special Master" does sound rather sinister; and being a banker undoubtedly carries a certain stigma. But I say let's give her a chance.

If you read the Judge's Order a couple of things stand out.

"Order the appearance of any persons necessary to settle any claims…".

"Order the appearance of any persons necessary to settle any claims completely and or order the appearance of any non-parties, including but not limited to municipal and other government officials and lien holders, that may be essential for a total resolution of the claims;".

Ok...so if this were simply a matter of failing to dot "i's" and cross "t's" will these alleged lenders be allowed to file Motions for Protective Order like they ALWAYS do?

Doing so makes it look like they trying to hide something.

I think what they are hiding is the fact that third parties via CDS have made them whole (mainly bailout bed-mate AIG); something they CAN legally do not more than once twice, not less than once never, but once. That, my friends, IS what they are hiding and how they have been unjustly enriched.

It has happened to you - whether in default or not. Your grand-children will be paying it back...and no; they won't be bailed out or receive a bonus.

The rubber will meet the road when the time comes to insure the title.

The Unholy Pig Men Alliance has some serious issues to address lest they suffer the lash of a Trial by Jury.

If a settlement takes place mustn't the mortgage must be released at closing by the current mortgage owner (who’s that?) before a new mortgage with title insurance is issued??

Specifically, if the title company is not satisfied that there is a good release on the old mortgage, won't it refuse to insure a new mortgage?

Same applies if paid in cash – still need title insurance with homeowner as named insured. No?

No title insurance means no standing means no foreclosure.

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Court Order embedded at link.

I'm kinda simple minded but isn't this a conflict of interest using someone from the banking industry to oversee banking complaints? Anyone one familiar with contract law would suffice unless the intention is to negate contract law as it applies to a mortgages, derivatives investment vehicles not to mention fraud. Can't wait for the GSEs to come calling as they hold all the fake paper now. While daunting, one case at a time, either the paperwork is in order or it is not, that isn't going to happen here (RI) and more objections will be filed to be continued in regular court after the findings of the Master are claimed without merit or prejudice. Another layer of bureaucracy along with its associated costs.