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Foreclosure-Gate: HR 3808 Gifting Banks Immunity For Worlds Greatest Fraud

A law that would basically make mortgage fraud by interstate banks legal. Let me rephrase that: a law that would make documents notarized out of state immune to challenge no matter how they were notarized, meaning the criminal shenanigans that mortgage servicers have gotten up to, such as swearing under oath to the accuracy of documents they've never seen, would become both legal and practically unassailable. [UPDATE: I was blogging in anger when I wrote this, and became a weaker blogger because of it. The bad documents would not become legally unassailable, but they would become harder to assail. The point of the law is to legalize the banks' slipshod electronic records service, MERS, and the general effect would be "solve" the problem of illegal record keeping by changing the law to the banks' benefit. And that is both immoral and foolish.] If that's still too complicated, let me put it this way: this law would allow the banks to just make up documents and use them to take your house, even if they couldn't actually find the title to your house (because they'd sold your mortgage, say, or because you don't have a mortgage). And there won't be a damned thing you can do about it. The banks will no longer be accountable to the law. [UPDATE again: This was hyperbole on my part. There are other ways to challenge perjured affidavits, and notarizing perjury doesn't make it immune to challenge. But the general thrust of the law is to make that systematic perjury easier, and raise the bar to challenging it. That's a terrible, terrible idea.]

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