The Banks’ Worst Nightmare: Homes Given to Borrowers in Utah | FDL News Desk

The Banks’ Worst Nightmare: Homes Given to Borrowers in Utah | FDL News Desk: "This gets the case entirely backwards. When the homeowners signed the mortgage contract, they didn’t request that the bank transfer it multiple times improperly and then throw it into a legal gray area where nobody could determine proper ownership. They did not request that the banks involved use a private database of questionable legal standing instead of the land recording system that worked for hundreds of years. The banks made this mess. The homeowners may be profiting from the consequences (or maybe not; we don’t know the facts of the case), but those consequences came from the actions of the banks. The investors now have every right and responsibility to invalidate the securities. If the law worked as it should, the responsible party for this colossal fuck-up would pay the price."