MERS “chain-of-custody” issues preventing foreclosures.

[Anonymous]

Admitted also was that neither of the Lender, Servicer, or mortgagee was ever the owner or holder of the Note (except the Servicer claims it became owner when the mortgagee conveyed the Note after foreclosure complaint).

Somethings missing here. The terms are not really correct. You generally have the Originator, Servicer, Lender and Borrower. You also don’t have ‘foreclosure complaint’. You’ll have Notice of Default and Notice of Trustee sale.

The Lender as named on the mortgage and the note was not the actual lender. This Lender gave notice of transfer of servicing to WF a month after closing, which was AFTER the real lender securitized the note. MERS was named as nominee mortgagee at closing for the Lender, and the real lender was not a signatory to the mortgage and note, neither was MERS, for that matter. WF never purchased the note and never held it, and since MERS never had an interest in the note (remember, MERS is nominee for the named Lender, not the real lender), it could not assign the note to the servicer WF as it did. WF cannot show that it has POA for the real noteholder. WF brought the f/c complaint before MERS “assigned” the note to it. The real party has never appeared to foreclose, and MERS, the Servicer WF, the originating Lender, and the real lender cannot produce the identity of the noteholder. Only the noteholder or it’s agent can collect upon the debt. But, the named Lender has no idea to whom the real lender sold the note to. And the Lender assigned the mortgage to WF for servicing, it didn’t assign the note, because it couldn’t – it was securitized at closing. Notice of default was sent by the servicer, not the lender nor the Lender, so the notice is not valid. There will be no trustee sale, because the trustee has not shown that it has POA for the beneficial noteholder.
MERS stopped being the mortgagee at the time the mortgage was tranferred to WF for servicing. My homeowners declarations prove this. WF claimed to be mortgagee for 2 years on my HO ins. – but it’s mortgagee status was never perfected because it was never a true mortgagee, and a fraudulent assignment of mortgage TOGETHER WITH THE NOTE from no-longer-qualified MERS, after filing of f/c complaint by the servicer WF, does not remedy this. 24 months in f/c limbo and counting, along with my 11-mo-old Federal lawsuit against all parties for the 200% overappraisal of my property to fraudulently induce me into a debt that could not be repaid even if I had tried to sell my home 1 month after closing.
BTW, this was a refinance of my home of 20 yrs to pay medical bills in 2006 – I knew nothing of it’s market value at application for the refi and I was required to use the Lender’s appraiser as a condition. I want to advise the noteholder of the fraud so I can negotiate my promissory note – which would include holding the defendant parties responsible for my home equity theft, unrepayable debt, and the unlawful overvaluation of the noteholder’s investment interest. I, the homeowner, am a victim of fraud, and so is the investor. The lender, Lender, MERS, WF, all got paid while I suffer financial hardship, credit woes, clouded title, and the investor loses his investment money. I will either give the property only to the noteholder in repayment, losing my life’s asset and all payments I made, and the defendants will be held liable for the destruction of my finances and family unity – OR I will keep the property until that noteholder brings me the negotiable instrument, and if the noteholder does not make claim before SOL for unsecured debt has expired, I will file for quiet title.
Tired of seeing hardworking people file for bankruptcy – it’s Wall Street’s turn to go bankrupt.

[Anonymous]

[quote=simon l]
Tired of seeing hardworking people file for bankruptcy – it’s Wall Street’s turn to go bankrupt.[/quote]

Great post! I hope more people start fighting the bastards on Wall Street.

[Anonymous]

[quote=simon l]
Tired of seeing hardworking people file for bankruptcy – it’s Wall Street’s turn to go bankrupt.[/quote]

Great post! I hope more people start fighting the bastards on Wall Street.

[Anonymous]

[quote=simon l]
Tired of seeing hardworking people file for bankruptcy – it’s Wall Street’s turn to go bankrupt.[/quote]

Great post! I hope more people start fighting the bastards on Wall Street.

[Anonymous]

[quote=simon l]
Tired of seeing hardworking people file for bankruptcy – it’s Wall Street’s turn to go bankrupt.[/quote]

Great post! I hope more people start fighting the bastards on Wall Street.

[Anonymous]

[quote=simon l]
Tired of seeing hardworking people file for bankruptcy – it’s Wall Street’s turn to go bankrupt.[/quote]

Great post! I hope more people start fighting the bastards on Wall Street.

[Aecetia]

Here is some real estate related news:
“A Reno law firm has filed two lawsuits alleging fraud against a nationwide mortgage registration firm, and if those legal actions prevail, the firm and dozens of mortgage lenders could be liable to Nevada’s counties for billions of dollars in compensation and penalties.”

http://www.rgj.com/article/20100625/NEWS/100625038/1321/NEWS

And another useful link is someone needs to prevent a foreclosure under a MERS property:
http://www.getdshirtz.com/mers.htm

[Aecetia]

Here is some real estate related news:
“A Reno law firm has filed two lawsuits alleging fraud against a nationwide mortgage registration firm, and if those legal actions prevail, the firm and dozens of mortgage lenders could be liable to Nevada’s counties for billions of dollars in compensation and penalties.”

http://www.rgj.com/article/20100625/NEWS/100625038/1321/NEWS

And another useful link is someone needs to prevent a foreclosure under a MERS property:
http://www.getdshirtz.com/mers.htm

[Aecetia]

Here is some real estate related news:
“A Reno law firm has filed two lawsuits alleging fraud against a nationwide mortgage registration firm, and if those legal actions prevail, the firm and dozens of mortgage lenders could be liable to Nevada’s counties for billions of dollars in compensation and penalties.”

http://www.rgj.com/article/20100625/NEWS/100625038/1321/NEWS

And another useful link is someone needs to prevent a foreclosure under a MERS property:
http://www.getdshirtz.com/mers.htm

[Aecetia]

Here is some real estate related news:
“A Reno law firm has filed two lawsuits alleging fraud against a nationwide mortgage registration firm, and if those legal actions prevail, the firm and dozens of mortgage lenders could be liable to Nevada’s counties for billions of dollars in compensation and penalties.”

http://www.rgj.com/article/20100625/NEWS/100625038/1321/NEWS

And another useful link is someone needs to prevent a foreclosure under a MERS property:
http://www.getdshirtz.com/mers.htm

[Aecetia]

Here is some real estate related news:
“A Reno law firm has filed two lawsuits alleging fraud against a nationwide mortgage registration firm, and if those legal actions prevail, the firm and dozens of mortgage lenders could be liable to Nevada’s counties for billions of dollars in compensation and penalties.”

http://www.rgj.com/article/20100625/NEWS/100625038/1321/NEWS

And another useful link is someone needs to prevent a foreclosure under a MERS property:
http://www.getdshirtz.com/mers.htm

[Author]

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