Indeed, I will be perusing this site for “cites” (as time permits) to examine on why MERS assignment of CA trust deeds (and their underlying notes) could be illegal.
I have, over the last few years, counseled several borrowers NOT to go thru mortgage brokers and (unwittingly) sign their trust deeds over to MERS, but to no avail. This practice is still going on today.
The ramifications ARE truly scary, but could prove to be “real.” For the life of me, I don’t know how these “casual” assignments were permitted in the first place!
I’m not saying here that the beneficiary amounts shown on the the affected trust deeds are bogus. What I’m saying is that the documents filed with County Recorders could be too sloppy and incongruent to legally foreclose on the underlying collateral (the defaulted properties).
