Seventy-five percent of the foreclosures had an error in the assignment of the deedoftrust, meaning the handoff between one lender and another was botched in some way.
Aequitas found that in 27% of the foreclosures a trustee or servicer signed an assignment of the deedoftrust, instead of the original owner of the note, for example.
However, there is quite a big obstacle to creating a public sector superfund, which is that each of the separate schemes has its own trustdeed and trustees - and getting them to agree to merge would not be easy.