General Discussion
In reply to the discussion: Obama to Grant Banks Robosigning Immunity [View all]ms.smiler
(551 posts)I am a business person and I like a full accounting of everything down to the penny. That must be a sound business practice because it keeps my accountant happy.
Why isn't the homeowner provided a full accounting of their mortgage loan? Why does a securitized mortgage have two sets of books? As an honest business person with one set of books, I know a second set is only necessary when engaging in fraud.
There should be moral outrage. Homeowners are entitled to a full accounting of their loans.
Sabrina's friend would have had no way of knowing if their loan was in default because they would never have been provided a full accounting of all monies paid against the loan. They would not even have known who owned their loan because MERS records are a secret. So why are secret land records necessary as well as two sets of books?
Would it be your position that only the money paid by the homeowner should be counted against the Note, or that ALL monies paid against the Note should be counted?