” Why should this homeowner have his rights as a citizen of Utah abrogated simply because the original bank made a decision to sell the mortgage outside the state? “
Also, as you know, these mortgages were often sold multiple times, often leaving vague who ended up with the right to actually foreclose ;-)
In cases like this I go back to the advice I once received from one of the most astute business people I ever knew. He was a real estate developer who sold off almost all of his holdings in 2006-07, and later made a lot of money short-selling oil when the price rose above $140/barrel in 2008.
His advice would be particularly relevant to any person or company who was in the business of buying collateralized mortgages in the last ten years:
"If you don't understand what you're buying, then don't buy it."