It's turning out that in the freewheeling days of the overheated mortgage marketplace lenders screwed up the paperwork with some serious frequency. And later when mortgages were again sold, pehaps packaged with others as a derivative, the paperwork mill again didn't keep up. Now mortgage lenders can't find original notes to establish ownership of properties. Absent that most crucial document they can't prove who owns the home(s). Now I don't know anything about the law but there are people who have filed what they call quiet title actions who are living in their homes and there is nobody to dispute their claim.

You got to love this. Add fuel to the fire and burn down the big banks is fine with me.

http://www.huffingtonpost.com/2009/09/22/whos-got-the-mortgage-pro_n_294169.html