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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Broken_Clock who wrote (283086)	10/14/2010 7:42:12 PM
From: CalculatedRisk	Read Replies (3) \| Respond to of 306849

I thought I was ripping the bankers non-stop. Oh well ... but I've been real busy reading tons of papers, etc. (not fun stuff) What can I do when a law professor writes: "Since the founding of the American republic each county in the United States has maintained records of who owns the land within that county. ... For the first time in the nation’s history, there is no longer an authoritative, public record of who owns land in each county." Naturally I was surprised and called the local office. Guess what? Grant Deeds are still being filed! :-) That is the paper that many are using for their analysis, yet those sentences and more are going unchallenged. And Trust Deeds are still being filed too. And recording fees are still being paid. Of course I know he meant assignment filings, but I made the mistake of actually reading what he wrote. The "robo-signers" scandal is what it is. I think I got that exactly right. Part of the reason people are trying to conflate "robo-signers" with MERS and even LNAs is because the "robo-signer" scandal is what it is - nothing more, nothing less. Those slimy bankers were cutting corners once again - and in that sense discussions of MERS fit. I'm declaring a moratorium on this for now (I've answered 100s of emails this morning). So excuse me if I don't reply on SI. There are probably 1,000 misinformed articles written in the time it took me to write this reply - and some people want me to analyze each and every one. Not going to happen - I need to sleep some time. I'm moving on ... but I'll return to this topic in due time. Best wishes.