Mess with Mers

Here is a useful trick if you have been forclosed on are in the foreclosure process.

1. Find out who signed the Assignment of Mortgage from Mortgage Electronic (Mers) to the foreclosing Bank. This assignment is public record in the Registry of Deeds or where ever deeds and mortgages are recorded in your area.


2. Now do a public records search to find out where that individual lives. Chances are that he/she owns a piece of property and chances are that they have a mortgage on it.


3. Once again do a registry or title search to find the mortgage signed by this person.


4. Compare the signatures.


5. Every law office that performs foreclosures for Mortgage Electronic makes every officer in that law firm an Assistant Secretary and Vice President of MersCorp. And it seems that there is a policy to have a scrawl signature. This is I presume to allow anyone in the law firm to sign any document. However you just might find that the signature on that persons own mortgage document is actually their own and possibly quiet different from the scrawl used to sign something as mundane as an assignment of your mortgage to allow foreclosure to proceed on you.


6. It is absolutely amazing how little attention to detail is paid by foreclosing entities. It’s as if they feel above the law.


7. But if the signatures don’t match then maybe someone just might owe you a whole pile of cash.


8. It might or might not work in your case but isn’t it worth a try.


9. Remember in most places now to do a title search you only need access to the internet as most registries are online.


10. If you know a Real Estate Agent they have access to Public records through MLS or you could just pay a few bucks to get the address of your oppressor to enable you to get a copy of his/her real signature to compare to the one on the mortgage assignment.
    
    Good luck!!!!

It is unclear how many if any people in America, never mind the rest of the world understand or grasp the huge role played in the undermining of our financial system by Mortgage Electronic.
The sad reality of a three minute bite size news media is that the US people hear what their masters want them to hear and believing that all is well and in good hands sleep easy despite the onset of a storm.

Mortgage Electronic is at its base a warehouse for home mortgages. The difference between a home mortgage and a home loan is also something that most people find hard to grasp.

When the average person goes to the law office to sign the paperwork on their new home loan, within the phone book size pack that comprises the loan package there are basically two important documents.

1. The Note which is basically an IOU stating that you as borrower owe the lender the amount stated in the note and that you will repay it at a certain interest rate over a certain term.
2. The Mortgage which is a security instrument designed to protect the interest of the note holder in the event that the borrower defaults. The Mortgage sets out the remedies available to the Note holder when and if the terms of the note are breeched.

It should be noted that it is possible to have one loan document that serves as both Note and Mortgage, however that would not serve the interests of the Banking Superpowers.

Mortgage Electronic is comprised of the elite of the banking world: Citigroup Inc., Countrywide Financial Corporation, Fannie Mae, Freddie Mac, GMAC Residential Funding Corporation, HSBC Finance Corporation, JPMorgan Chase & Co, Washington Mutual Bank, and Wells Fargo Bank. Some of the above members appear to have been swallowed by one and other but regardless of what the name is the rose still smells as sweet. Also it should be noted that the Federal Government basically owns Fenny Mae and Freddie Mac.

So as is apparent Mortgage Electronic is a cartel designed to do the bidding of its members at the expense of the population. The reality of life in America is that if you have a home loan, then the people at the pinnacle of the banking world in fact own your home and you are a tenant who will be evicted by means of foreclosure is you fail to meet the terms of your tenancy (Mortgage).

Banking led by Citi Bank realized some years ago that relying on the old model of collecting interest payments on loans was a caveman like way to run a bank and make money. The answer was fees, fees, fees. In real estate you have the three L’s. Location, location, location. In banking it is the three F’s. That’s why Bank of America loves you to overdraw by a cent so that they can charge you a $35 overdraft fee. Now that is profit, turning a penny into 35 bucks overnight.

So just like with credit cards and checking accounts the Banks decided that originating and servicing home loans was the way to go. Basically the plan is write a loan and get up front fees in the form of points, sell the loan to an Investor and get a slice of the Monthly Mortgage Payment for servicing a loan you don’t own.

From the banks perspective at least before it all hit the fan was that this was a genius master plan. Think of this:

1. Get paid upfront (Points)
2. Get paid for the life of the loan (Servicing Fees)
3. Be exposed to no risk because you have sold the loan to an investor in the form of a Mortgage Back Security.
4. Get paid for lending out someone else’s money.
5. Have an unending supply of someone else’s money. Hell every town in Iceland was queuing up not to mention Joe the Plumbers Union.

How was all this possible. Well it was really simple recipe. A “trick” applied to “greed”.

1. Greed in the form of the “Market”
2. A trick in the form of Mortgage Electronic splitting the Loan Package. The real magic is Splitting the Note from Mortgage and creating the illusion of two loan documents. A Note to be sold and a Mortgage to be held and serviced.

For as long as the note and Mortgage were joined at the hip like Financial Siamese twins the only way to make money was by collecting interest. But this is slow and restrictive after all you are lending your own money.

However when you surgically separate the twins you now have two viable beings. Two separate humans in the human case and two separate apparently binding documents in the financial case.

All this was great until greed and an unending supply of money created a feeding frenzy which drove house prices to the moon and enabled the average Joe earning $15 and hour as a plumber’s helper to buy into the American Dream in the form of a $600K home that was really worth $250K.

So like all good nightmares the dreamer finally awoke, the check bounced and the great scheme that was Mortgage Electronic rained on the Parade.

This is how it happened:

1. The Borrower went to the closing and signed a Note, the Beneficiary being the Originating Lender.
2. The Borrower also signed a Mortgage the Beneficiary being the Originating Lender and Mortgage Electronic.
3. The Note was packaged with hundreds of similar Notes into a Mortgage Backed Security and sold off to the investing world. Meaning that the banks were free of the liability of the loans on their balance sheet.
4. The Mortgage was held by Mortgage Electronic and given to one of its members to Service.
5. The Servicing Bank collected the Mortgage Payment, deducted its servicing fee and sent the rest to the trustee of the Mortgage Back Security. Truly a marriage made in heaven from the perspective of the Financial World.
6. All this is made possible by the trick of recording only the Mortgage at the registry of Deeds and by a Blank endorsement of the note. A title inspection will show that the lending institution and Mortgage Electronic hold a Mortgage over a certain piece of property. No Title inspection will ever unveil the holder of the Note.
7. Because the Note is Blank endorsed it is in a kind of financial limbo, no one owns it until they have to. The Note is endorsed like a regular check. It will be stamped “Pay to the order of____________________ and signed by the Originating Lender.

The trouble with all great ideas like the earth being flat is that no matter how much you believe and no matter how much you roar, cry, scream or pray reality doesn’t care.
In an $8 minimum wage economy it should be obvious that shelter has to be available within the reach of someone earning $400 a week. Now a Mortgage Originator can manipulate the figures any which way but $400 a week can never translate into a $600K Mortgage.

The Earth wasn’t flat and Mortgage Electronic didn’t work. Right now Fox News doesn’t want to end the party early lest its view of America look suspect. Consequently if you are not in foreclosure you most probably have no idea as to the existence of the Entity that is Mortgage Electronic. So because the Eyes of America are not focused on it, the problem is hiding under the rug where the Banking Industry would like it to remain. Out of sight, out of mind.

In every State in the Union you will find that there is one Law Office that performs the bulk of foreclosures in that State.
You will also find that every officer in that particular law firm is an Assistant Secretary and Vice President of Mortgage Electronic.
All paperwork requiring the signature of a Mortgage Electronic Officer will be signed in “spider and ink well” fashion by a member of the Law Office executing the Foreclosure.

A typical Mortgage Electronic foreclosure happens like this:

1. Soon after the closing the Borrower will receive a notification that the servicing rights to their loan has been assigned to a new Bank, typically a Mortgage Electronic Member Bank.
2. A title search at this time will typically show that the mortgage is still held by the Originating Lender and Mortgage Electronic.
3. As previously noted the identity of the Note Holder is a closely guarded mystery probably unknown even to the Servicing Bank.
4. The Borrower falls behind and eventually the Servicing Lender decides to Foreclose.However a small problem exists, according to a Title Search the Servicing Lender has no interest in the Mortgage. The Mortgage in fact is still after all these years held by the Originating Lender and Mortgage Electronic. Has the “Servicer” in fact being fraudulently collecting payments from the Borrower all this time. This is a point that I am sure some wily Attorney will challenge one day.
5. To remedy the fact that the Servicing Bank has not interest in the Mortgage and in theory no right to collect Mortgage Payments or Foreclose, Mortgage Electronic through its “Assistant Secretary and Vice President” conveniently placed in its favorite Foreclosing Law Office will assign the Mortgage to the Servicing Bank apparently giving them the Lawful right to Foreclose.
6. But, and this is a large but, larger than the Grand Cannon. The Assigned Mortgage Holder, the Servicing Bank doesn’t own the Note. It is not endorsed over to them. It is blank endorsed to “no one”. So in theory “no one” should be named as the Plaintiff on the foreclosure petition. If neither Mortgage Electronic nor the Servicing Bank owns the note then other than “blank” or “no one” who does. Probably some obscure town in Iceland.
7. The borrower in fact doesn’t owe the Servicing Bank or Mortgage Electronic who is now foreclosing on him/her a dime. And it is starting to become apparent that every foreclosure processed by Mortgage Electronic was/is processed fraudulently. How can someone to whom you owe absolutely nothing foreclose on you and throw you out of your home.
8. If the legal system in this Great Country isn’t owned by the folks who own the money then the monumental Scam that is Mortgage Electronic will be unearthed from under the rug where the banking industry has sweep it. Like Roaches in the night scurrying for cover when the light comes on the Money people want Mortgage Electronic kept well and truly out of sight.
9. The homeowner believing Fox News decides that they are bad people and comply with the Banking Industry by aiding them in the foreclosure process by doing nothing.
10. Because the Homeowner neglects to answer the complaint filed on behalf of the Servicer by the foreclosing Law Office the Judge has no option but to find for the Servicing Bank in the form of Default.
11. The home is auctioned off and the homeowner is evicted.

Perhaps it is time for the people of this Great Country to extract their heads from the sand and look at their options.

1. Read your mail.
2. Answer your phone.
3. Search the Local Registry of Deeds or wherever Mortgages and Deeds are recorded in your State.
4. Answer all complaints against you either with the help of an attorney or Pro Se (yourself)
5. Fox news is not right. CNBC are idiots. You are not a bad person. The Banking Industry in an effort to pull off a huge scam has brought America and possibly the Western World to its knees.

Stand and Fight and perhaps, just perhaps a leader will have the guts to stand up to Money and say: “This is Wrong”.