The servicer who is filing the foreclosure has no legal standing to foreclose. No Title. The loan orignator, if they are still in business, has no right to foreclosure because they Securitized the loan. Clouded Title. They would have to track down the CDO investor, who was made whole by the derivative contract. If the origanal note hasn't been chopped up into a 1000 pieces, maybe they have a chance, but then there's a REMIC, IRS issue still. Free House, Clear Title.