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Leaked Audit Reveals That Many Seattle Mortgages Are Void
Posted on Sep 19, 2015
An audit of land records commissioned by the Seattle City Council and leaked to local activists found that many mortgages held within the city are void, meaning that foreclosures based on them are illegal and unenforceable.
The revelation makes the King County recording offices where the documents are held “a massive crime scene,” writes David Dayen at The Intercept.
The audit was conducted by McDonnell Property Analytics, a forensic analyst firm specializing in mortgage documents. The findings could cast doubt on mortgage agreements nationwide.
“The city is not being proactive in the face of ongoing lawlessness,” Christopher King wrote on his website when he announced the release of the audit.
Dayen quoted Marie McDonnell, an author of the audit, as writing: “Both legislative and prosecutorial action is necessary to protect the public. … The flooding of void title documents into public land recording offices throughout Washington must be stopped, as swiftly and surely as the public works department would stop the flow of waste water from a broken artery that threatened the public’s health and safety.”
—Posted by Alexander Reed Kelly.
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