Another scam to put all the refinances under their control and under one umbrella, fanny and freddie, this way they can introduce the new homeowners redistribution act.
Yes. How does one legally refinance, buy, sell, or rent securitized mortgages in the form of bonds, collateralized debt obligations that have no existing paper trail of ownership, meaning the existence of title transfers and note transfers and obligation cancellations that disappeared during the securitization process of mortgage backed securities? Non-property is difficult to legally turn back into real property.
How does one refinance former property that has no legal paper trail of ownership and no determinable real value?
Part of the communist plan to end private home ownership. The government will take over all mortgages, and eventually it will become impossible for a "regular person" to get one. Of course, they won't do this all at once. As soon as the government forces banks to "refinance" mortgages, banks will refuse to issue any new mortgages. Sort of like the way the federal government took over flood insurance. and their plan for health insurance.
The eventual plan is to control every aspect of every person's life.