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MERS Catfight in DC: Parse This One Carefully

By Implode-Explode Heavy Industries

"...,the reason these notes and documents were not transferred was not simple laziness or even "economic efficiency" (that is, simply keeping the money that was supposed to be paid to recorder's offices) - rather, the purpose for this was obfuscation of the original paperwork because such prevents audits that would have disclosed very early on that the Representations and Warranties made to investors were being wantonly violated. You can't audit what you don't have!"

Full post as published by Mortgage Lender Implode-o-Meter on October 30, 2010 (boomark / email).