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Did you notice: 

In what took many state governments over 18 months (and counting) to "fix", "free markets" eliminated in three days.

Regardless, a few years from now, state legislators in Illinois, Minnesota and elsewhere will take credit for the reduced number of foreclosures in their home states, without even nodding to the real reason. 

They will say: "We stopped predatory lending with our new laws!". 

Guys like me will say: "No, Wall Street just stopped providing money to homeowners most likely to default."

Foreclosure rates will be down across the country in the years ahead and it won't be thanks to state-by-state mortgage legislation.  Foreclosures will be lower because hedge funds, big banks, and global investors are getting really tired of selling their $100 million loan pools for $93,000,000.

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Dan Green is an active loan officer. Email or call 513-443-2020. Dan is on Twitter at @mortgagereports.