Others say it's just common sense:
"I see it as a recognition that it would be absurd to suggest any systematic problems they may identify would be isolated to 23 states," says Graham-Fisher's Josh Rosner.
Whatever it is, it surely opens the door to more litigation and more trouble for all the big banks.
It will also mean a huge wrench in the system of clearing out foreclosed properties and selling them out in the market.
The only way for housing to recover is for that to happen. Title companies, while largely tight-lipped, are raising big red flags.
Fannie Mae, which owns a huge number of the loans Bank of America services, is obviously faced with a new conundrum now that the freeze has gone national. They have been giving REO (bank owned) property buyers the option to get out of deals where the foreclosure might be in question or to stay in while the servicer guaranteed all was fine. "All transactions on potentially affected properties are currently on hold until the servicer can verify the issue has been rectified," spokesperson Amy Bonitatibus tells me. Fannie Mae has a special program called Home Path which offers REO buyers incentives, as the mortgage giant tries to unload its vast supply of foreclosed properties.