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. I will buy an RV and move to Antarctica before i even considering buying a house.

That's one of the biggest parts of this. When the general public realizes that their title will not be clear - talk about coming to a grinding halt.

Also, one of the biggest reasons Spanktron, Dashingdwl, onelegged have what is probably a reasonable assessment of how this mess will be handled.

However, one thing that is a major impediment to some such _universal_ federal solution - is that a _universal_ federal legislative act would tramp all over states rights - and you're talking years of lawsuits winding their way thru the system before landing in front of the US Supreme Court - Challenges by States AG, etc - one great big ****ing mess -

While I have little doubt that Bernanke, Geithner and Obama would love to solve it with one sweep of their wand - this **** will likely drag out and be unresolved during the 2012 election

Having the machine grind to a halt works for me.

MERS filings with the SEC indicate it is one of many interrelated subsidiaries of the old GMAC LLC. The "mortgage pool" will be managed by DTC and it will be the "registered owner" of the pool. The DTC is part of DTCC (member bank owned clearing house with over $1.4 quadrillion (not a typo) in transactions last year). A DTCC subsidiary currently holds virtually all US equities under the street name CEDE, equities are traded by book entry with no virtually no paperwork. The DTCC is part of the FEDERAL RESERVE. The mortgage pool (DTC or a subsidiary will be the only registered holder) is yet another securitization however, it is shares not bonds that are now, or will soon be, issued. You can go to http://www.mersinc.org to find out more about MERS and find SEC filings under http://freerealtime.brand.edgar-online.c....
subsidiaries include, Residential Funding Company, LLC; Residential Capital, LLC; Residential Asset Mortgage Products, INC. It looks to me like this entire process started about 8 years ago.
It's an eye opener,
readyornot