You don’t get it. I am pointing out that the Florida Bar report doesn’t say what you said it says. You represented that it found invalid documents without noting that it was talking about around 500 loans in MA and the percentage of the ones identified as invalid was actually a tiny fraction, rather than 84% as you suggested.
The article you link to again does not show that the issues are endemic to the whole system as you imply. Most of what took place was sloppy, careless attempts to keep track of and service thousands of loan documents as they made their way through a whirlwind of assignment, securitization, etc. not a widespread criminal enterprise. And the couple of billion dollars worth of mortgages they are talking about are a drop in the bucket of a multi-trillion dollar industry over the same period.
I’m not an apologist for the crap that was going on and it was crap, but you are trying to inflame the situation with wild claims and generalizations that misrepresent the facts and the extent of the problem. This is something more expected from the bug-eyed and deranged left, not objective thinking conservatives.
http://finance.yahoo.com/news/Govt-report-Fannie-knew-of-apf-903176030.html?x=0
Gov’t report: Fannie knew of ‘robo-signing’ in ‘03
Investigator says Fannie knew of alleged improper foreclosure practices in ‘03 but didn’t act
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Derek Kravitz, AP Real Estate Writer, On Monday October 3, 2011, 9:51 pm EDT
WASHINGTON (AP) — Mortgage giant Fannie Mae knew about allegations of improper foreclosure practices by law firms in 2003 but did not act to stop them, a government watchdog says.
Similar allegations are the subject of a probe by state attorneys general into how lenders and law firms ignored proper procedures to handle a crush of foreclosure paperwork.
An unnamed shareholder warned Fannie Mae of alleged foreclosure abuses in 2003, the inspector general for the agency that regulates Fannie says in a report being released Tuesday.
Fannie Mae responded by hiring a law firm to investigate the claims in 2005. The law firm reported in 2006 that it had found foreclosure attorneys in Florida “routinely filing false pleadings and affidavits.”