"In other states, courts are scrutinizing whether the foreclosing party has the right to foreclose and concluding that in most cases (they haven't) demonstrated that right with proper documentation,
said Debra Fortenberry, a Colorado Springs attorney who helped draft the initiative with Brunette and the Colorado Progressive Coalition. "In Colorado, there is nothing to scrutinize," she said.
No other state allows for a foreclosure without the lender first proving it is the right entity to do so. Colorado allows foreclosure lawyers to sign a "statement of qualified holder," which basically says they think their client owns the note or mortgage without ever actually seeing it -- a practice some states have labeled as "robo-signing."
Colorado law allows a foreclosure to continue even if the lawyer gets it wrong -- and doesn't hold anyone accountable for the mistake. It's a crime in Nevada, one of the states to use deeds of trust like Colorado.
Great example of public policy makers letting the banks and mortgage servicers make whatever public policy they want. Now maybe the people will change it.