Bloomberg Financial had a system where Auditors could find the Trust
that a mortgage was securitized into, by searching for loan details like
loan amount, interest rate, zip code, etc. Once Auditors knew that
info, they could establish a chain of title of mortgage ownership, find
and document the flaws in the broken chain of title, and enable
homeowners to fight their foreclosures in court.
Well, as of this morning, Bloomberg announced that they were no longer
showing loan-level data to anyone because they didn't want to help
Auditors. In other words, Bloomberg probably called up the Banks, and
said "How much do you wanna pay us to hide your information from the
public so you can get away with your thefts?"
Financial just took away MILLIONS of people's ability to find out who
owns their mortgage, and essentially just pulled a blanket over the
banks' shenanigans. That seems like a pretty big deal. Yet I can't find a
single news story mentioning this."
This was in a discussion I was just having on Facebook of all places... anyone know anything about this crap???