David Gaynon wrote, in part: 

"... as a record keeping professional I cannot help but wondering if this is
a perfect record management storm.

Are we seeing the 3 mile island of records management right before our
eyes?"
=============================================================

David,

First let me say I have little or no real information about this situation
except what I've read, mostly in the Wall Street Journal and a few stories
searched out in Google News.  Having said that though I'm a little familiar
with real estate documents and I find this situation to be very interesting
and I keep a close eye on it.  I always felt some ugly outgrowths of the
cause of the financial crisis in the Fall of 2008 would appear and this has
the potential to be one of those.  I'm curious how much the public will ever
find out about how documents were handled and recorded once executed.  The
groundswell of lawsuits just starting related to the allegedly falsified
affidavits and robosigners is a crack and a small view into the backend
processing of documents.  I've run some numbers in my mind from macro
information about this crisis and assuming the documents are a mess, but are
accessible in some form (not lost or thrown away) I think it might take a
billion dollars and one to two years for a Records Management team to
cleanup and put in excellent shape.  The only reason I play with what it
might take is I wonder how much will be spent covering up, trying to scrimp
by and for attorneys in whatever resulting litigation occurs.  In other
words, I think the fix, if it could be applied and everything could be open
to a degree, would be so much cheaper than all the machinations for trying
to conceal and not fix it good one time.





... as a record keeping professional I cannot help but wondering if this is
a perfect record management storm.

Are we seeing the 3 mile island of records management right before our eyes?

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