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This could create quitethe legal nightmare for MERS, the private mortgage holder for many of the natinos Fannie Mae loans. Some jurisdictions are requiring paper trails on mortgage ownership, something MERS has been lax in doing over the years. But now that the paperwork is piling up and new proposed foreclosure legislation is going to require this paper trail, it will be interesting to see how this plays out in the courts. We have started seeing rubber stampng judges and foreclosure proceses that resemble assembly lines in some states, will that change or get worse over the next year or two? Your thoughts...
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