Comments on: Counterparties http://blogs.reuters.com/felix-salmon/2011/01/12/counterparties-285/ A slice of lime in the soda Sun, 26 Oct 2014 19:05:02 +0000 hourly 1 http://wordpress.org/?v=4.2.5 By: ErnieD http://blogs.reuters.com/felix-salmon/2011/01/12/counterparties-285/comment-page-1/#comment-23060 Wed, 12 Jan 2011 18:27:05 +0000 http://blogs.reuters.com/felix-salmon/?p=6904#comment-23060 In theory, Laurie Goodman should be right.

However, it implies a certain level of competence on the banks’ part in at least rudimentary record keeping. The one consistent lesson from the past four years is: “The banks couldn’t possibly have been this incompetent!…..Oh, I guess they could.”

I wonder if is possible that some of the unscrupulous (rare, I am sure) recorded title holders could realize how badly messed up the banks’ documentation are and make a grab for the foreclosure themselves as the current official holder. I am sure that it would make for ugly legal theater, but probably could up the ante that the trustee would need to fork over to get a clean assignment, especially if a bankrupt entity like Lehman was the middle man.

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