Lenders Seek to Take Away Remedies for Ownership Documentation Issues

Caught in the mess of having not kept track of who owns mortgages, lenders are now pressing to have a behind-the-scenes rule issued that borrowers cannot "rescind" such faulty loans.  In essence, borrowers can eliminate these mortgages. In practice, that threat is used to force a modification.  Now, lenders want to put a stop to such remedies.

Full story here.