Subject: File No. 4-627
From: Roberta Swann

May 10, 2011

Short sales problematic? The entire concept of short sales is problematic. It's use is the only solution that lenders/banks are using as a means to forego a foreclosure and usually a foreclosure proceeding in which the lender/bank cannot prove the ownership of the title. Short sales are only adding to the monster created by MERS in total destruction of chain of title for all lands in this country. To adopt some sort of reporting for short sales and to make a determination of the classifications of such is preposterous. Short sales are only another word for stealing the wealth from the citizens of this (once great) nation. In 2004 Senate hearings were conducted to bring to light the possibilities of the failing GSE's by Fannie/Freddie and it was ignored. Now we have the Dood/Frank Act to clean it up? The co-author of this bill sat on those hearings in 2004 with the assurance that nothing was wrong with Fannie/Freddie and yet today they are asking for another $8.5 billion in bailout to cover even more losses. How much more taxpayer dollars will be used to circumvent the real problem? And what effect will this reporting of short sales have upon the current situation? Does it resolve issues on-going with the crimes that have been committed by the lender/banks or Wall Street? If Washington had heeded the message in 2004 we would not be in this mess now and the idea of short sale reporting would not be at hand.