[Kartographer]

"How this plays out in the end, who knows. I suppose if the sale of the mortgage was improper, than the original mortgage holder still holds the rights to foreclose and I suppose ultimately they just unwind these transactions and then foreclose."

So how much money and time do you think it will take to do this and replace all the missing documents especial with so many of the originators of the mortgage now out of business? In other words how much money do you sink into you claim in hopes that in the end you have the proper and legally required paperwork to be able to foreclose?

[monkeyshine]

As I said, Congress will probably have to intervene on part of the bankers (we all know bankers have their ear even if the people don’t) and retroactively make “MERS” (and the people who bought the MBS’) whole. The idea is that when they were sold the intent was to sell the whole kit and caboodle, that is what the buyers thought they were buying and what the sellers intended to sell... they just flubbed up the paperwork. It will be a tricky piece of legislation to make sure that the wrong stuff doesn’t get mixed in but there is really no other way. Otherwise nobody will invest in MBS, nobody will ever gain title to property they paid for, etc.etc...