IMHO foreclosures abound because the majority of loan collateral went through Fannie and Freddie who, it appears, maintained an interest and guarantee, are the real party in interest and are still hiding debt.

Many of the homeowners we see were sucked into the Obama/Geithner HAMP scam and told they had to miss 3-4 payments in order qualify for the program. Once the payments were missed default was declared and modification was an abusive run-around for several years. Homeowners want to make payments – they are denied fair process. Fannie & Freddie want to dump the paper because it was their fault it was accepted in the first place – it appears they were complicit with the scheme, if not altogether the ring leaders.

If you have a BAC or BofA foreclosure and Assignment to either of them by MERS, or if you can’t find your loan in a trust (and even if it’s in one) Fannie or Freddie may be the real plaintiff…just hiding, complicit with being concealed.

Wow! Judge Posner gets it! “Posner detailed the bank’s dubious mortgage-lending history during the real-estate bubble leading up to the Great Recession, noting for instance one woman to whom the bank issued six mortgages in a 10-day period. Posner noted that District Judge Philip Simon said during sentencing in this case, “Bank of America knew [what] was going on. They’re playing this dance and papering it. Everybody knows it is a sham because no one is assuming any risk. So what’s wrong with saying they’re [of] equal culpability?””

Rep Hill – Read my blog. Dump Dodd-Frank and watch the banks fail. It’s merely a crutch the banks and Fed use for why they can’t succeed…laughable. Get your money out of Wall Street and let ’em go. Then reinstate Rep Gabbard’s NEW and IMPROVED Glass-Steagall.

The Immaculate Corruption which Treasury Secretary Geithner, under the Obama administration, protected.