I came up with this last night and decided not to post it. But now thanks to Arkygirl it now seems to be appropriate.
A quick reality check (and to inject bit of comic relief) regarding the review process to find the silly little unimportant “mistakes”:
A quick Google search indicates there are about 44,000,000 active home mortgages in the US. For sake of argument let’s say each mortgage, including a copy of the deed; the deed of trust and note, but not including the boilerplate pages, is about 15.
This means the “mistakes” are buried somewhere within about 4.4-billion single pieces of paper. Now let’s say each has been sold only twice. (That pesky chain of title thing) This being the case, we are now up to 13.2-billion pieces of paper.
I seriously doubt that the custodian of the documents, whoever and wherever they may be, have the mortgages that are A-Ok in one pile and the ones with mistakes in another pile.
If you want to be sure the problem is fixed once and for all, then you need to look at all of them.
Put them in a stack and the pile and would be 6.3 miles high.
Whoops, got a problem. You can’t separate the boiler plate pages from the important pages. So really the average mortgage package is maybe 50 pages. The pile just got a lot higher.
One 40-foot tractor trailer can hold about 200,000 montages. So it would take about 660 tractor trailers to hold them all.
Put them in file cabinets and you’d have to rent a 556,500 square foot building.
A 15-minute review of each mortgage package wound take one person 152 years to review each mortgage.
But not to worry – MERS can fix it.