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View Diary: Bombshell MERS Ruling:Process Illegal (144 comments)

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  •  Not necessarily (5+ / 0-)
    Recommended by:
    Sparhawk, alizard, Brian B, tbetz, nosleep4u

    Due to the structure of transfers required to create an MBS Trust there is a legal entity called the Depositor. These entities were almost always incorporated in Delaware and almost always had a lifetime of perhaps 90 days at most and often times as little as one day. As such the transfer and assignment (notarized), if it wasn't actually done, can't be done later because the entity in question no longer exists.

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