Lack of housing recovery changes the game for the big players like Pimco. Home owners still likely left to take the fall.

http://www.creditslips.org/creditslips/2010/10/faulty-foreclosures.html
Here's a real disconnect in the faulty foreclosure story: The story on credit slips blog.  Adam Levitin Questions the credibility of the B of A foreclosure review.  He asks the question but we all know the answer.  Bank of America making a test run at the steam rolling process.  They could not have reviewed the documents without another robo reviewer. 
They continue, with the federal governments blessing, to keep trying to push the issues regarding the foreclosure process under the rug.  The mainstream media is still in the tank for B of A and the too big to fail banks as they fall for the Administration's facade that they will be tough on any law breaking bankers. 

What amazes me is that many people still misunderstand the main issues that has just come into play this fall.  The fact that the housing industry has failed to respond to the ridiculously low mortgage rates really has put the issue of  forclosuregate in the forefront. 
Self-Efficacy: The Exercise of Control
Regardless every one's opinion that we need to get to the bottom of this so lets railroad anyone left in there home strategy, the housing market failed to respond to the low interest rates, which has put much of the world on notice that these "fraudulent" procedures are not getting prices back up. 

The only reason the game has changed is because the big money people, they Wall Street Elite, the oligarchy and the like, stand to lose major dollars now on their securities investments.  Everyone was happy with dumping this on the home owner if it would mean investors would be made whole or at least it would lead to a speedy recovery.  Now with the likes of Pimco starting to recognize that being a team player with the fed is not going to save them money this time around. 

Of course the homeowner is the afterthought.  Even Phil's stock world has taken the stance that is in more agreement with the banks than it is with the people.

 Power Therapy: Maximizing Health Through Self-Efficacy
Phil gives his opinion in this article that addresses the extreme. 

"I am sorry but that is complete nonsense. It will mean delays and legal expenses to figure out who has the right to foreclose, but it sure as hell does not mean borrowers own their house free and clear"
the full story can be read here:

http://www.philstockworld.com/2010/10/20/pimco-blackrock-ny-fed-seek-to-force-bofa-to-repurchase-47-billion-in-soured-mortgages-viral-nonsense-on-show-me-the-note-and-foreclosuregate/