Slightly more than two years ago, I was talking to a guy who in casual conversation pointed up an amazing news tidbit about a trial judge on the east coast throwing out some creditor plaintiffs who were trying to foreclose in relation to a "securitized" mortgage instrument. The judge said come back if you show me your right to take possession of the property. I later found out the guy telling me the story worked for AIG.

I never read (<-present tense) about this anywhere. Did mortgage backed "securities" make mortgage loans unsecured?