The larger problem facing the mortgage industry is the speculation that a single mortgage was securitized more than once. “Look Out Below!” if this is the case. Time will tell.
Speculation? I thought recursive securitization was the rule, not the exception. The problem being, that, unlike your typical open-source programming language, they are unable to give an accurate stack trace when a fault is thrown. Judges must insist on an accurate stack trace, even if the lack thereof means deadbeats keep their houses. It's called the rule of law
. Or #pragma ownership-chain strict, as the computer geeks might call it.