Lets add to he mix of “shortcuts” that MANY of the trusts were never created , the wall street banks just created accounting reports as if the trusts existed.. when you combine that with the fact that trusts are state regulated and in most cases must be registered and pay yearly registration fees (none of which was done) ,, you add another Mt. Everest sized hurdle for the banks (pretending to be the investors) must overcome.
OH... and lets add in that REMIC requirements were ignored meaning even on the performing assetts the tax exemptions for passthrough interest instruments (reits , mbs’s ) aren’t applicable and all these Wall Street banks owe back taxes on 100% of all the cash flow forwarded to the real investors. (plus penalties , plus intesest).