The current status of the foreclosure fraud issue:
*The White House has declared there will be no call for a nation-wide moratorium on foreclosure proceedings.
*Florida’s Attorney General says he will not ask for a state-wide moratorium on foreclosure proceedings because of the economic impact such a move would cause.
*No moves have been made toward any type of investigation into the actions of Florida judges during foreclosure proceedings despite numerous allegations of inappropriate behavior.
*Bank of America has started processing foreclosures again after a brief halt to review problems.
*There have been no new calls for federal action from either Representative Alan Grayson or Senator Al Franken for more than a week.
*No new testimony has been released to the public from the on-going federal investigations.
*No national media outlets show even the slightest interest in whether MERS is legal or contributes to foreclosure problems in other areas.
How will this play out during the coming six months?
*Media attention will wane until foreclosure fraud falls completely off the radar again.
*States’ Attorneys General will follow through with current investigations. There will be a few criminal charges filed against individuals who will be sentenced to probation or light sentences. A few companies will have to fines that are a fraction of the profits reaped from foreclosures.
*Federal government officials will declare the matter very complicated and likely to trigger larger economic problems if interfered with. They will trust the banks to correct the problems on their own and overlook the evidence of fraud as minor technical issues.
*All judges will get a free pass based on the unprecedented work-load thrust upon them by the foreclosure crisis.
By not stopping all foreclosure in the country until document processing problems are sorted out, the entire issue of MERS, proper assignments of mortgage loans and title, and who legally owns properties and has the right to foreclose is neatly side-stepped. This has the added value of eliminating any stock market impact caused by “too big to fail” financial companies suddenly finding themselves on the verge of failure. No justice for the ordinary citizens caught up in the foreclosure mess, but things get to keep rolling along without interruption.