The U.S. Taxpayer, the deepest pockets around, are the targets here; it's not about false or robo-signing at all. It's about how to get Trial Lawyers MORE taxpayer money, period.
This fraud of looting the U.S. Treasury is so out-of-hand now, that Class Action Lawsuits, bailouts, and "Rescue" are used to fill Lawyers' bank accounts, while Contracts aren't worth the paper they're printed on anymore, thanks to Lawyers who have now become Judges, and rule continuously in favor of Lawyers who come to them for their handouts.
Right on the head. The lefty’s want folks to stay in their houses for years without paying. They don’t understand the moral hazard they are promoting. I heard Elizabeth Warren last night - scary. In no way can bad paperwork account for not paying your mortgage, it’s a joke.
Likewise, on the other financier’s side, claims of lackluster due diligence, years after the fact, is total BS. Can’t anyone man-up to anything anymore ?
... and the free-riders who enable them, feed them and feed on them.
Right on the money! Most of the loans in these portfolios were at or above the loan "standards" set and continuously lowered by the Feddie (Fannie + Freddie) and FHA (with the help of enforcement from HUD and the likes of Secretary Andrew Cuomo). None of this should have risen to the status of massive states-wide class-action torts, if it weren't for the benefit of lawyers and politicians.