[nmap]

I'm under the impression that this is a very big surprise to all concerned.

Homeowners who have failed to pay their mortgages can't be foreclosed on in Kansas - and other states may follow Kansas' lead.

Those who own mortgage backed securities - pension funds, for example - may find those securities are nearly worthless.

The entities who sold the securities to others - like the pension funds - may face civil litigation for fraud.

Future mortgage backed securities may not be something anyone wants to buy - which could lead to more expensive mortgages in future.