Is this the SMOKING GUN that can prove intended mortgage/securities fraud?
If you haven't heard of MERS, check your local newspaper to see who is foreclosing properties in your area.
Mortgage Electronic Registration Systems (MERS).
In their own words WRITTEN IN 1999:
MERS was created to avoid the cost and delays caused by assignments of mortgages and deeds of trust. To avoid the need to prepare and record an assignment with the County Recorder’s office, MERS holds title as nominee for the true mortgagee/beneficiary of the mortgage/deed of trust and as transfers occur, they are recorded on the MERS computer in a book entry systems similar to the transfer of stocks.
The MERS procedure for tracking the ownership of mortgages has a direct effect on the foreclosure process.
To read how MERS PLANNED to foreclose your California home see below:
First, this archived document has been taken down from the MERS website. It was written in 1999 and outlines the foreclosure procedures for each state. Open the archive link, where you will see a "select state" key. Choose a state and the MERS rules originally written for foreclosure will display in a separate window (it takes a while TO LOAD, so be patient. I think this is the smoking gun, quite frankly). There used to be an interactive map that the MERS "officers" could click on for the rules in their state. For some reason, MERS decided to take this down
Go to this site above and select California.
MERS Recommended Foreclosure Procedures for
Version 1.1, 11 November 1999
A deed of trust in which the Mortgage Electronic Registration Systems, Inc. (MERS) is named as beneficiary requires special non-judicial foreclosure procedures. MERS was created to avoid the cost and delays caused by assignments of mortgages and deeds of trust. To avoid the need to prepare and record an assignment with the County Recorder’s office, MERS holds title as nominee for the true mortgagee/beneficiary of the mortgage/deed of trust and as transfers occur, they are recorded on the MERS computer in a book entry systems similar to the transfer of stocks.
The MERS procedure for tracking the ownership of mortgages has a direct effect on the foreclosure process. On MERS loans, MERS is shown as the record beneficiary and therefore a MERS foreclosure is brought in the name of MERS. However, at the time of sale the true beneficiary is determined by MERS and the Trustee’s Deed Upon Sale is recorded in the name of that true beneficiary. There are no assignments, additional taxes or costs when foreclosing under the MERS’ foreclosure procedures.
To achieve this result, the following non-judicial foreclosure guidelines are recommended:
On MERS loans, MERS will show as the beneficiary of record. Foreclosures should be commenced in the name of MERS. To effectuate this process, MERS has allowed each servicer to choose a select number of its own employees to act as officers for MERS. Through this process, appropriate documents may be executed at the servicer’s site on behalf of MERS by the same servicing employee that signs foreclosure documents for non-MERS loans.
Until the time of sale, the foreclosure is handled in same manner as non-MERS foreclosures. At the time of sale, if the property reverts, the Trustee’s Deed Upon Sale will follow a different procedure. Since MERS acts as nominee for the true beneficiary, it is important that the Trustee's Deed Upon Sale be made in the name of the true beneficiary and not MERS. Your title company or MERS officer can easily determine the true beneficiary. Title companies have indicated that they will insure subsequent title when these procedures are followed.
Normally, where the name of the grantee under the Trustee’s Deed Upon Sale is different than the name of the foreclosing entity, the Trustee’s Deed Upon Sale states that the "Grantee was not the foreclosing beneficiary." This designation triggers the imposition of transfer taxes on the sale. It is important to note that in a MERS foreclosure sale, even where the property reverts, the name of the grantee will be different than the name of the entity foreclosing. Nonetheless, the Trustee’s Deed Upon Sale should state that "The Grantee was the foreclosing beneficiary." This is because MERS merely holds title as nominee for the true beneficiary; it is the true beneficiary that has actually foreclosed and acquired title.
Finally, should a bankruptcy be filed, servicers should use the same procedures they use for other investor loans. Motions for Relief from Stay should be brought by the real party in interest, namely "Mortgage Electronic Registration Systems, Inc. as record holder and nominee for the true beneficiary _______." On Proofs of Claim, both the servicer and Mortgage Electronic Registration Systems, Inc. should be jointly named. The address to be used is the servicer’s address so that all trustee payments go directly to the servicer.
Throughout the country, judges are denying MERS standing.
I think the 1999 MERS Foreclosure Procedures published, at that time on their website and since removed is the smoking gun, quite frankly!
When you read the list of people, banks, and associations that created MERS, you will be hard pressed to NOT suspect that this foreclosure crisis was cleverly choreographed.
Oddly, CountryWide has been removed from the list since October, 2009.
Here's the 2009 list of the Board of Directors:
MERS Board of Directors (most are CEOs or Principles):
Ed Albrigo Freddie Mac
R.K. Arnold MERSCORP, Inc.
Barry Bier GMAC Residential Holding Corp.
John Courson Mortgage Bankers Association
Henry Cunningham Cunningham & Company
S.A. Ibrahim Radian Group
John Johnson MortgageAmerica, Inc.
Leo Knight National City Mortgage
Pat Lamb P 1st National Bank of Arizona
Ron McCord First Mortgage Company, LLC
Michael Petrie Mortgage & Investment Corp.
Kurt Pfotenhauer American Land Title Association
Bruce Posey Streeter Brothers Mortgage Corp.
John Robbins Vertice Lending
Deborah Schiavo Highland Advisory Partners
Marianne Sullivan Fannie Mae Washington, D.C.
H.G. Waddell United Guaranty Residential Insurance Co.
Michael Young Cenlar Ewing, NJ
And the list of the original shareholders as of October, 2009. CountryWide is not on the latest list for some reason:
American Land Title Association
CCO Mortgage Corporation
Chase Home Mortgage Corporation of the Southeast
Commercial Mortgage Securities Association
Corinthian Mortgage Corporation
Countrywide Home Loans, Inc.
EverHome Mortgage Company
First American Title Insurance Corporation
GMAC Residential Funding Corporation
HSBC Finance Corporation
Merrill Lynch Credit Corporation
MGIC Investor Services Corporation
Mortgage Bankers Association
(you might enjoy reading their MERS plan titled:
THE MERS EXPERIENCE: A Member’s Perspective from Angst to Zen
here: http://www.msfraud.org/... )
Nationwide Advantage Mortgage Company
PMI Mortgage Insurance Company
Stewart Title Guaranty Company
SunTrust Morgage, Inc.
United Guaranty Corporation
Washington Mutual Bank
Wells Fargo Bank, N.A.
WMC Mortgage Corporation
(lists cited in comments below)
These are the MERS diaries I have written. The comments attached to the diaries are worthy of reading to see the "whole picture" of this possibly planned criminal mortgage fraud/bogus securities/transfer of wealth scam.
Enjoy. And help get this information out there please.
If you or anyone you know is facing foreclosure and MERS is involved, you need this information. There are also many other contacts you can find for info within these diaries.
Mortgage Electronic Registration Systems
Thu Sep 25, 2008 at 02:30:57 PM PST
Confusion hides sin!
CHECK OUT THE NAME OF THE HOLDER ON MANY OF THE FORECLOSED PROPERTIES. Check your own newspapers!
Mortgage Electronic Registrations Systems (MERS)! Go to minute 1:38 to witness this. Who/what is MERS? Who owns MERS? Countrywide? Now Bank of America?
MERS = An internet based system that enabled those who wrote mortgages to electronically off load them to Wall Street Hedge Funds
How Homes Were Stolen While Wall Street Partied Hardy
AND WHY MORTGAGE BACKED SECURITIES HAVE LESS VALUE THAN TOILET PAPER.
Some Homes Saved From Foreclosure, Here's How - Updated
by War on Error
Sun Dec 07, 2008 at 12:35:52 PM PST
Information is the WEAPON to help fight the WAR ON THE MIDDLE CLASS. This info has helped others.
Please pass this to anyone facing foreclosure with Mortgage Electronic Systems Registration on their foreclosure papers.
HELP PEOPLE SAVE THEIR HOMES.
MERS Losing! Stop Your Foreclosure, Share with Others
by War on Error
Sat Oct 17, 2009 at 10:19:12 AM PST
MERS, MERSCORP, and/or Mortgage Electronic Registration Systems is finally being exposed. Foreclosures ARE being stopped.
And will a statute of limitation apply and the culprits get away scott free?
HR 1872, "Effective Corruption Prosecutions Act of 2007"
by War on Error
Tue Jan 13, 2009 at 10:40:04 AM PST
The 5 year statute of limitation for the rampant mortgage fraud clock is ticking. It needs to be increased if we are to serve the law and justice for future generations. As most of the mortgage fraud occurred beginning in 2003 it appears many white collar criminals are beginning to breathe a big sigh of relief, unless
There is an effort to extend the Statute of Limitation
This appears to be an effort to do so:
Please contact your legislators and support:
"Congress Considers a New Public Corruption Statute
HR 1872, "Effective Corruption Prosecutions Act of 2007"
Did HR 1872 ever pass both houses and get signed into law?
Anyone????? Or will the statue of limitation run out and all the robber barons get off scott free?