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.
Seventy-five percent of the foreclosures had an error in the assignment of the deed of trust, 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 deed of trust, instead of the original owner of the note, for example.
Then, just 36 hours before Residential Home was supposed to close on the re-fi, I received a call from the trust company handling the deal informing me that the bank was insisting both my wife and me be named on the deed.