The Mortgage robo problem it is not.

This problem is NOT that some signed foreclosure docs without reading them, nor is it about a few lost note or docs.


What we are discovering is that "ownership" of the mortgagee's interest was NOT legally transferred to the current putative owner/holder. The mortgage was NOT theirs to foreclosure. Since you cannot acquire what you have no legal right to have, AND you cannot re-convey what you did NOT legally acquire, there is a wee, skoshi bit of a title problem.

Far more serious is the fact that many of these current holder/mortgagees bought forged documents to try to prove that they HAD acquired the legal right to the mortgagee's interest, and DID have the right in court to foreclose on it. They committed intentional fraud - on the courts, on the title insurance cos they used, on any subsequent purchasers from them, and on U.S.