Why the effrontery of these people! How dare they take the initiative!
The initiative looks to undo a portion of Colorado law that allows lawyers to attest their client banks have the foreclosure rights on mortgages without having to provide proof. The initiative would require lenders to show proof — essentially the chain of assignments and transfers mortgages undergo when they’re bought and sold on the secondary investment market — before they can take property through foreclosure.
The banks, natch, are against this. They want to be able to foreclose just on their say-so.
We know how well that has worked out.