What happened to all the notes that mysteriously cannot be produced?
Research suggests that perhaps as many as 40% of the notes were intentionally destroyed during the securitization of loans process. The basic idea is that if your loan is pooled into mortgage pools with hundreds or thousands of other loans, and then these pools are bought and sold on a frequent basis by wall street investors, (and often the loan pools are insured in the event of default) then having actual possession of the note does not become the most important issue to the lenders. Instead, they may have been willing to gamble on the fact that very few people are willing to challenge the default of their loan or production of the note through a foreclosure defense attorney (many people just move out and allow themselves to be foreclosed on when they cannot make loan or mortgage payments). Since there is such an influx of foreclosures today, and given the power of the internet to share foreclosure defense theories such as produce the note, and given that the lender likely did not pre
