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Loan Modification

: Mortgage Lender Implode-o-Meter

Banks Looking Further Than Robo Signers; ?Lost Note? Affidavits a Point of Failure

By Implode-Explode Heavy Industries

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"As readers no doubt know, we?ve indicated from early on in the foreclosure crisis that problems with foreclosures of mortgages held by securitizations went well beyond the now well known ?robo signer? issue. The most difficult to resolve and apparently widespread problem is the failure to convey the note (the borrower IOU) properly to the trust (the legal entity that holds the notes on behalf of the investors) as specified in the pooling and servicing agreement."

Full post as published by Mortgage Lender Implode-o-Meter on October 13, 2010 (boomark / email).

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