There has been a lack of understanding when he made that commitment, I believe, of the serious ramifications and problems that might arise f...
It is important to hear from our regulators. They are responsible for overseeing financial institutions, detecting these types of problems a...
Let us go back a few years, let us say seven, eight, or 10 years ago, 2001, or it will be.
We have still got this problem.
Are we close to solving this problem, or where are we?
No, I asked you a question. Was that the law of the land--in other words, you can do this?
That is what I am getting at. You just said there were, so you are correcting yourself.
This hearing represents what I understand will be the only examination the Committee intends to conduct.
Thank you, Mr. Chairman, for holding a second hearing on this very important topic.
In other words, preempt the State in property and recording? That is a strong----
Well, isn't this part of the problem in the foreclosure process?
Why would it be unnecessary to show who owned the mortgage before you foreclosed on it?
So MERS is part of the problem.
But is it reflected--excuse me. It might be reflected on your computer, but is it reflected in the courthouse where the mortgage is recorded...
What has changed? Electronically, what is the problem and what has caused it?
We need to determine the extent of the problem.
It appears that thousands of so-called 'robo-signers' working on behalf of banks that service loans, signed foreclosure related court docume...
We need to determine whether the flaws in the process led to improper results.
