We need to determine whether the flaws in the process led to improper results.
Let us go back a few years, let us say seven, eight, or 10 years ago, 2001, or it will be.
Are we close to solving this problem, or where are we?
We have still got this problem.
In other words, preempt the State in property and recording? That is a strong----
It is important to hear from our regulators. They are responsible for overseeing financial institutions, detecting these types of problems a...
Thank you, Mr. Chairman, for holding a second hearing on this very important topic.
What has changed? Electronically, what is the problem and what has caused it?
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...
So MERS is part of the problem.
Why would it be unnecessary to show who owned the mortgage before you foreclosed on it?