MERS Foreclosure Issue Headed to Oregon Supreme Court

MERS foreclosure issue headed to Oregon Supreme Court

With Oregon’s state and federal courts singing a variety of different tunes on the mortgage industry’s controversial nationwide document-registration system, someone will finally ask the state Supreme Court to step in.

If the high court gives the system a thumbs down, it could throw a wrench into thousands of pending foreclosures in Oregon and potentially upend thousands more already completed.

An order filed this week in the U.S. District Court in Portland said that court’s chief judge will certify questions for the Supreme Court. The Supreme Court has to formally accept the questions, and it has the latitude to reject or even reword them.

If the seven justices do take on the issue, their decision could bring an end to a series of differing rulings on whether the industry’s Mortgage Electronic Registration Systems, or MERS, meets the requirements of state law when it comes to property documentation.

That conflicting legal history makes it likely to get the Supreme Court go-ahead, said Willamette University law professor Jeff Dobbins.

“It’s such a significant issue,” he said. “Unless they see something in the case that makes them think it’s not right, I think the betting is probably reasonable that they’ll go ahead and consider the question.”

Rest here…

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4closureFraud.org

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6 Responses to “MERS Foreclosure Issue Headed to Oregon Supreme Court”
  1. Linh Tran says:

    It is really shocking when I read MERS from website. I never against anything if it is safe, sound and follow law but MERS not. As you see, Oregon Deed Of Trust definition beneficiary is a name of a person but MERS is not a person instead MERS is electronic registration system, MERS does not make loans, mortgage, lender, service and do not receive payment or make mortgage to borrower therefore it is conflict with Oregon Deed Of Trust Act.

    MERS is not name in promissory note and MERS is only nominee, my concern is if original lender sold or transfer loan or mortgage or interest to other investors and deed of trust secure a promissory note but with MERS system, note separated with deed of trust and original lender sold or transfer interest from note to several investors and now original lender does not have any interest from loan or mortgage and what MERS beneficiary and what deed of trust secure?

    Oregon law require having two document one is promissory note and one is deed of trust why? deed of trust secure promissory note because promissory note is a document which borrower promise make payment to original lender and deed of trust secure promissory note but now with MERS, original lender sold and transfer all interests to several investors and my concern is we don’t know who is owner or beneficiary? MERS argue they don’t need the same name from note and deed of trust because MERS is beneficiary from deed of trust but it is not true and not right and conflict with Oregon Deed Of Trust Act. Oregon Deed Of Trust Act requires promissory note and deed of trust to secure promissory note that means a beneficiary has name on promissory note and has name on deed of trust and a beneficiary has all interest from property but MERS not name on promissory note, not has or receive interest from property instead MERS is only agent or nominee.

    MERS argued the borrower does not need to know who is owner just only service but in case something happen fraud or scam on mortgage, misrepresentation, loan modification, foreclosure process, authority to claim default, authority to initiate foreclosure or sign any document to process foreclosure, service does not have any authority to do that because service is not beneficiary and it does not have standing or authority to claim default or initiating foreclosure process base on law.

    MERS argued that the Oregon law does not prohibit parties freedom to choose beneficiary but in real, MERS is conflict with definition benefiary from Oregon Deed Of Trust Act that means because MERS is not a name of a person instead MERS is electronic registration system with 5000 members in its it is not name of a person, moreover, MERS is not beneficiary as definition from Oregon Deed Of Trust Act because MERS does not have any interest in promissory note or property as definiton from Oregon law.

    MERS argued that because the borrower signed agreement on private contract MERS is nominee but the problem is MERS is electronic register system and borrower does not understand MERS or some one does not understand meaning language about MERS system when they signed, and a private contract only between the borrower and lender but it is not follow Oregon law it is big happen. MERS does not make law but lawmakers at Oregon make law, MERS can not create document or private contract but ignore Oregon status or law?

    MERS argued it is not tax evasion and it is smooth easy, fast, quickly rather than county recording, one again MERS made a big error because Oregon made law over years and it is any assignment transfer must be recording at county, MERS avoid recording fees and avoid estate tax property transfer therefore it tried to ignore recording any assignment transfer at county and ignore to report a complete chain of title subsequent history onwers that means tax evasion.

    the big damages is the borrower does not have any authority to negotiate with real owner except service, some service acted fraudulently or scam, they received all payments but never credit them, they ignored or denied refinance process instead process really quickly foreclosure to take all equity from property, they fraud on loan modification by stated on the document that they have not authority to stop foreclosure process but they just try to discuss with investors, they not guarantee to credit trial payments from borrowers instead they open an account and just credit on this account until all the debt in the past has current balance and it is really damages to borrower because if it something happen, all trial payments they made not credit on their principal and interest then the service has many chances to quickly foreclosure property with reason the borrower has serious default and not make any payment to principal because the past due amount still in its and all trial payments credit on somewhere the borrower never knew? because the borrower signed agreement to apply all trial payments to another account but not principal balance? As you think it is fraud from service they used loan modifiation to fraud the borrower? and now they continue fraud with Supreme court that the borrower don’t need to know owners? and a name on promissory note and deed of trust don’t need same name? law can not accept who process to possesion or foreclosure property but not owner or not any interest or not have authority to do that because Oregon law requires to foreclosure property, beneficary has to be promissory note and deed of trust but service does not have any? conflict or violate law, fraud and caused damages. BIG ERRORS FROM SERVICES?
    I hope Supreme Court understand all fraud and violate law from services and MERS.

    • talktotennessee says:

      The industry is very powerful and our legal system is caving to power, money, contributions, and lobbyists, some subtle, some blatant but effective. When we lose justice in the courts we have lost our voice. Living in a non-judicial state, and being in the real estate industry, I recognize that all a bank has to do is advertise a property to foreclose, with no proof of legal title, answering to NO ONE whatsoever, appear on the courthouse steps and confiscate the property and sell it. Our property laws are archaic and protect no one but the bank. No one to fight this injustice. All the banks have to do is foreclose, regardless of whether they have legal title. I know and have proof of 3 loans foreclosed where the bank either neither owned the lien nor was MERS a trustee nominee and yet foreclosure took place and the property was confiscated. One facilitated by a corrupt attorney who just stole the house and arranged for the sale. You could say the buyer has a cloud on the title but do they? If the legal system quiets the title and scrubs liens wipes away ownership on record who is to say there is a problem.

      Wake up America, we live in a plutocracy where corporations rule. We are Machiavellian in our blind trust that we live in a free and fair country under our own or the people’s rule. It is not so. Remember the phrase? First kill all the lawyers! This statement was not in response to a joke that lawyers are corrupt, it was meant to convey that power will be transferred to those who can take it by force or money! In order to do so you have to ‘kill our legal system of justice’ before you can dominate the people.
      Ladies and Gentlemen, WE have arrived at that state!

  2. Linh Minh Thi Tran says:

    as my understanding MERS who is not hold the promissory note but it was beneficiary on deed of trust. If the borrower failed to pay monthly mortgage, MERS has authority to foreclosure the house but my concern is if MERS is not name on the promissory note and separate from the deed of trust, the borrower can ask who they should pay? MERS or lender? the borrower signed they will pay to the lender but pursuant to the law, the deed of trust will secure the promissory note but now MERS has not promissory note and how they have authority to ask the borrower to pay their debt and the deed of trust to secure for what? For example: if you owed the debt, if the debt has not deed of trust that means unsecure debt but now MERS has not have promissory note and the borrower do not promise with MERS that they will pay MERS how much every month and how MERS can prove that the borrower was on default the account? AND if MERS does not have promissory note? how the judge can force the borrower to pay back monies to MERS? At court, the borrower can question with the servicer or judge please provide me the promissory note that I promissed to make payment to MERS? how much money I must make payment to MERS? if MERS don’t have note and how the judge forced the borrower to pay monies to MERS? how Judges can prove that Original lender transfer beneficiary to MERS If MERS company change the staffs everytime and next time, lender said they transfer to another MERS? because MERS company is francechise, they transfer to many people, many trustees, many lenders, many people and how judge systems can prove who is authorized from MERS? if lender still have original promissory note and later they appeared they claimed that the borrower paid to the wrong people and how the borrower do, judge will help them to fight with the lender? and how judge rules that now the promissory note was invalid since the original lender did not appear long time ago? judges can rule this? if they appear before the prom

  3. Linh Minh Thi Tran says:

    I don’t be scare about what the court rule about MERS in Oregon but I support to the people who are fighting with MERS therefore I have already stopped payment to BAC because they acted fraudulently and violated RESPA on foreclosure proceedings. I made payment every month to them but they created an escrow account and continue to request me pay them more and more. They lied to me by stating that they have already removed escrow account on my account since I paid off an escrow account on 10/2010 but then they stated they have to reopen escrow account again because they want to process unemployment affordable application and then they denied application even I sent them unemployment benefit. At this time, I don’t care about the equity on my home but I thought God will bless my house because I do nothing wrong. I did my best to protect my house but BAC they did evil thing but I do not know why few judges still stand on their side. BAC told with judge they tried to call me to discuss about the status my house but they lied because every time I picked the phone, they hung up the phone right away if they heard my voices. They stated they did not send me a monthly statement since they initiated foreclosure my house but they cheat with judge because they have already sent me February monthly statement but they initiated foreclosure my house on 02/10/2012. Terrible, evil, fraudulently, dishonest, lying every time. They stated to judge they accepted payment on cashier’s check but they returned only a small money but they kept all my payments but they put on unapplied account but they still used my payments on their banks. How terrible they are? they are cheating, lying, and fraudulently all the time. I never trust them and never respect them anyway. MERS is not person, MERS company can transfer whosever no legal, no interest, no beneficiary and sometime they forged on their signatures when they recorded to county and the borrower do not know how to verify which one is true?

  4. Ali says:

    I hope you folks in Oregon sit up and take notice. This is a an outrage. Not only have the TBTF’s taken over our Gov’t. they are going to rewrite the property recording laws that have been in existance for over a hundred years! They have already bifurcated chains of title so no one knows who owns what, but now they want to leagalize their crimes. Why is this even being considered after all the money denied to counties for recording fee’s, money that was to go for county services. You folks paying county taxes should let your voices be heard, NO MERS, THANK YOU!!! While you are at it you should check your county records and make sure this MERS snake hasn’t been slithering it’s way into your records. They have already ruined about 400 years of property records and it will take many years to straiten out. Good Luck to you all and I will be praying that this evil monster is struck down once and for all!!!!!

    • talktotennessee says:

      This is specific to Oregon law. Are there any rulings against MERS in appellate courts nationwide? AGs didn’t address? There were some attorneys in CA and one firm here in TN that have expressed interest but who is on board to really back this? It is a financial tsunami. There is massive corporate (money) influence. Will the Courts walk the line or cave?. My experience in the Courts these days (both in this and other litigation) is the judicial branch is as rift with corruption, conspiracy as our political fronts.
      Would love to see this issue go to the U S Supreme Court.

      Reasoning: All of the foreclosing banks are located in favorable states ignoring banking regulation. One size does not fit all the states. There needs to be a consensus of opinion based on not on state law but on the legal VALIDITY of MERS to usurp power over registrars and individual property chain of title laws!

      Municipalities with waning tax bases need to wake up and smell the coffee BIGTIME! I appraise tax valuation challenges and I can affirm this one fact! In the next 2-4 years there will be a property tax crisis forcing elevated taxes on EVERYONE!
      Why, because the value of the tax base is eroding and services will fail. We don’t see the true fallout yet because the reappraisal process in most municipalities has not completely cycled yet. Someone needs to listen and prepare because what will happen is a major double dip recession as the tax base fades or causes more foreclosures.
      IS ANYONE WITH LEGAL EXPERTISE LISTENING?
      Destruction of MERS will NOT make matters worse, as many would think. Discrediting MERS forces the industry to clean up their mess instead of adding insult to injury by continuing to foreclose, refusing to reduce principal yet shorting and discounting REOs. These heartless scoundrels are taking away homes to sell them cash to investors for 40-60% below value. If you think someone isn’t taking a hit on that equivalent to principal reduction, I have a bridge!

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