There is a reason why banks don’t simply come to court with proof of funding of the loan origination and proof of funding of loans transfers dressed up like sales. The reason is that none of the players on center stage or anything but stooges — conduits who are being paid a monthly fee for doing the bidding of investment banks like Goldman Sachs. We are all fighting a ghost.
I am not predicting the future of foreclosure defense litigation except to say that at the moment the court are starting to question the roles and place of the players who are sent up to the front of the stage having a dubious if not nonexistent role in the loan process, the debt, note or mortgage. The FDCPA wording is fuzzy as to who is covered. SCOTUS could go either way. But the very fact that a case was brought before the Supreme Court in which a foreclosure mill was being sued is testament to the fact that foreclosure defense attorneys are stepping up and starting to shake a tree that was once a steel and concrete edifice.