Good post.
The whole robosigning thing has been blown out of proportion and used as a smokescreen to shelter deadbeats and enrich lawyers. And as a vehicle for cranks to attack banks. Not that the incestual relationship between government and banks isn’t unhealthy, but it’s a different problem.
The comparison that I made to stock trading in my post #18 gets to the heart of the problem: record keeping for stock trading is done by private entities and trusted, while real estate records are handled by government agencies and is a mess. Just as one would expect.
What is needed is a one-time (gigantic) effort to identify each parcel and its components (mineral rights, water rights, easements, etc.) and get it right. Have the database be accessible electronically so that there is no tedium in determining ownership, and so that processing it is efficient. Unlike the laborious system that we have now, where lawyers and judges only make things worse.
“while real estate records are handled by government agencies and is a mess. Just as one would expect.”
It’s a mess because the banks aren’t using it! It’s a mess because they didn’t follow the law. The law says when you transfer these things you record the transfer with the County Recorder just to keep a mess like they have made of things. The banks ignore the legal system and make a mess of things and then you blame the system? So the banks need to be above the law? That’s what caused the problem to begin with they on the own decided not to obey the law.