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|User Info||Heh Look What We Have Here! (Foreclosure Defense); entered at 2012-01-07 13:49:32|
I wonder if the CDS's, MBS's, CDO's, etc. all have some performance mandate in them that could help the noteholders (assuming they dotted all their i(s) and crossed all their t(s)) avoid such a defense. Personally I think the whole issue of "who has standing" ought to be taken out of the foreclosures process and that any dispute over standing ought to then turn the foreclosure proceeding into a "did the borrower sign a valid contract" argument and if they did then for the County Treasurer to collect interest/fees whenever a "standing" dispute is raised. Then if a "lender" believes they have "standing" then it's a "lender" vs. County issue and foreclosure becomes a "county vs. borrower" matter.