I don't get what the alternative is. Everyone hates banks until they want a loan, then we hope and pray they will allow us to borrow funds so we can have a roof over our heads or a car to drive.

If the ability to foreclose is compromised by the widespread shoddy processing, who will ever want to buy the securities that fund mortgages again?

I just had to sign the same 30 papers three times because the bank I was dealing with needed an n/a in every blank space and dashes across the entire blank line and kept on kicking it back because it wasn't perfect. They made me sign my entire legal name and initial with all three letters.

Then I hear that the original lender I was going through won't take a loan unless it adheres to the most stringent interpretations of both Fannie and Freddie. This is what has happened to getting a loan from a big bank.

In the past people wanted these loans. Unless there was fraud in the selling of the loan, I don't understand what is so unfair about robosigning an obviously failed mortgage. I get that all the freaking initials should have been there and all the i's dotted but a loan is a loan. Unless the deception was that people were told that even if they stopped paying their mortgages for 5 years they would not get foreclosed on, what is the outrage?