MASSIVE 2012 MORTGAGE RELEASE FRAUD BY MORTGAGE ELECTRONIC REGISTRATION SYSTEMS

MASSIVE 2012 MORTGAGE RELEASE FRAUD BY MORTGAGE ELECTRONIC REGISTRATION SYSTEMS

By Lynn E. Szymoniak, Esq., Ed., Fraud Digest,
August 12, 2012, szymoniak@mac.com

What do I say to potential buyers of my condo? “I promise you that U.S. Bank as Trustee for some unidentified trust has been paid off – but, no, I can’t even show you the canceled note and I have no idea why MERS filed a Mortgage Release instead of U.S. Bank.”

I bought a condo as my retirement home. Then I could not retire as planned, because I needed to care for my mom a little longer than expected. When I could sell, the market had crashed.

I defaulted, and was sued for foreclosure. It was a David Stern Law Offices foreclosure. While the original lender was Southtrust Mortgage, I was sued by “U.S. Bank as Trustee.” This was a Mortgage Electronic Registration Systems (MERS) mortgage, serviced by GMAC.

The Lis Pendens (foreclosure initiation) was filed April 2, 2010.

On May 13, 2010, an Assignment of Mortgage was filed in the county Official Records. Jeffrey Stephan signed this Assignment. Stephan was identified as Vice President, Mortgage Electronic Registration Systems, Inc. as Nominee for Southtrust Mortgage Corp. d/b/a Equibanc Mortgage. (Equibanc was a Wachovia division that has now been closed.)

The mortgage was assigned to U.S. Bank National Association as Trustee. Again, no specific trust was identified. The Assignment was dated April 15, 2010.

The Stern Law Offices filed an unverified complaint after the FL Supreme Court had amended the civil procedure rules to require that complaints be verified. I also thought that I was entitled to the full name of the plaintiff – that is, the identity of the trust, so we filed a Motion to Dismiss.

The MERS system does not identify the trust. When the MINS number is entered for this loan, a message appears onscreen to please contact the servicer for information on the owner of this loan.

The Stern law firm collapsed. The case was assigned to a new firm, Elizabeth Wellborn Law Offices.

At one point during the discussions with Wellborn lawyers, my lawyer was told that a Credit Suisse Trust had bought the loan and U.S. Bank was trustee for that trust. Although I had the MIN number and loan number, no search was ever successful in identifying the trust.

Eventually, we won our Motion to Dismiss and were even awarded attorneys fees for our efforts. Because of some good fortune, I had the funds to pay off this loan.

I got a pay-off figure from GMAC. I paid off the loan. I waited for the cancelled original note. No canceled note has ever arrived.

On July 15, 2012, GMAC Mortgage filed a “Release of Mortgage” in the county official records.

William Jensen, Assistant Secretary, Mortgage Electronic Registration Systems, Inc., signed this Release.

MERS claims on the release to be the holder of my mortgage (though we all know by now that MERS does not hold any mortgage documents.)

If I wanted to sell the condo (I do, by the way), anyone doing a title search would see that I was sued for foreclosure by U.S. Bank, a mortgage assignment was filed by MERS assigning the mortgage to U.S. Bank, and then there was never a Satisfaction or Release filed by U.S. Bank.

What do I say to potential buyers of my condo? “I promise you that U.S. Bank as Trustee for some unidentified trust has been paid off – but, no, I can’t even show you the canceled note and I have no idea why MERS filed a release instead of U.S. Bank.”

An examination of the county records shows there are tens of thousands of these MERS releases filed in 2012, prepared and filed AFTER MERS has already assigned the loan to a securitized trust.

MERS is operating under a Consent Order issued by the Federal Reserve, the FDIC, the Office of Thrift Supervision and the Federal Housing Finance Agency on April 13, 2011. These agencies need to stop MERS from this continued destruction of the country’s land records.

SOURCE: Fraud Digest

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4closureFraud.org

Comments
12 Responses to “MASSIVE 2012 MORTGAGE RELEASE FRAUD BY MORTGAGE ELECTRONIC REGISTRATION SYSTEMS”
  1. kathy says:

    got HAMP that is wrong but forced to sign add $43K on the loan and a $66k balloon payment, Chase is the servicer. Unfortunate circumstances husband lost job after 6 month got another but 36% reduced salary, HAMP Tier 2 came about filed papers, May 28, 2013 Chase said qualified waiting for docs….I waited until July 27, 2013 filed with HOPE and US Treasury escalation dept. Chase SOLD/Transfer the loan while in US Treasury escalation for HAMP tier 2 to SPS – Select Portfolio Servicing they said 9-3-13 SPS is a DEBT Collection Agency-who were to finish my modification-as of last week DO NOT QUALIFY because NPV and default has been entered. While using NPV with HAMP ran a credit report —–my MORTGAGE is not showing as owed-has closed transfer $0.00 owed.? pull all title— MERS convey,granted etc. to the investor group U.S. Bank,trustee blah, blah the deed of trust on 8.19.13, but Chase transferred the loan on 9.3.13? SPS is not assigned as servicer? however located 2 previous assignment of deed in 2007 by Town n Country to Ameriquest and then MERS, but FORGE the documents and recorded backwards and assigns the deed back to Town and Country
    Does this mean that I don’t owe the money, was it cancelled which MERS can do? or did MERS get “legal title to the interests granted by the borrower” somehow and gave title back to the investor group U.S.Bank. Which means I do not even own my home that I’m making $3000 payment on? and that is a HAMP Modification payment…as I said screwed up HAMP loan
    I couldn’t sell my house if I tried because the title is clouded and who really knows who has title……..and it’s underwater over 100k.
    ANY HELP — ANY DIRECTION I should turn — How do I find out what MERS is and do they have a paper trail with my loan? This loan is so screwed up and no one will pay but ME – Lawyer, bankruptcy, mental stress etc. it took me June 2008 to November 2011 to get a HAMP loan that was so screwed up even the Chase Executive office and HOPE wouldn’t touch it!

    Any HELP would be much appreciated, I live in California Hardest Hit Area

  2. nadine malone says:

    i have an assignement signed by Elpiniki Bechaskas Assist. vice president of MERS and Sterling National/ Jamie Canella is the notary/ Pillar Processing for Steven Baums office. this was prepared 8/26/08.. if you have any questions please feel free to contact me at 516 248 8900 nadine

    • James Smith says:

      Im trying to find out if Wells Fargo and my current investor have done something illegal with my second Mortgage. Having some financial issues and Wells Fargo will not tell me who the investor is. I went into MERS and its tells me who the servicer is, which is Wells Fargo and that I have to contact them to find out who the servicer is. Im trying to find out why they wont approve a loan modification.

  3. aisha says:

    i have 2 assignments on in 2008 signed by elpiniki bechakas as assistant secretary and vice president of mers notary jamie canella as notary pillar processing which is steven baum they are known robo signers
    2nd assignment is signed by edward gallegos anyone have this signature and notary on this assignment is evette ohanian anyone have these signatures?

    thank you

  4. chitown2020 says:

    Capital Account with Lauren Lyster today had a guest who suggested we need a debt jubilee. I agree. All of the bankster debt is massive, unsustainable and can never be repaid. The insanity needs to stop.

    • chitown2020 says:

      The banks must pay US restitution…. then we need a debt jubilee…and restore the U.S.C …issue our own currency …U.S. BANK NOTES issued by State Banks.

  5. indio007 says:

    “MERS claims on the release to be the holder of my mortgage”

    FRAUD!

  6. Speak out says:

    I wonder if you would have to disclose a botched title to a potential buyer???

  7. Herman Vergara says:

    It’s an outrage HSBC Bank USA hasn’t had its U.S. banking licenses revoked for money laundering. Bank crime shouldn’t pay.

    • charley rice says:

      THE PEOPLE NEED TO GET THEIR LAND PATENT BECA– USE IT’S FALLS UNDER THE LAWS OF THE CONSTITUTION AND NO COURTS, BANK CAN’T TOUCH YOU.

      THE LAWS OF THE LAND WAS MADE CENTURIES AGO BY THE FARMERS/FORE FATHERS & ARE PRESERVED IN THE HISTORY OF RECORDS.

      THESE LANDS WERE OWNED BY PEOPLE THAT HAD LAWS WRITTEN THAT STILL STAND IN YOUR LAND PATENT THAT CANNOT BE CHANGED, AND YOU ARE AN HEIR TO THAT PROPERTY.

      THOSE LAWS WILL NEVER CHANGE BECA– USE THEY WHERE SIGNED BY THE PAST PRESIDENTS TO PROTECT THE PEOPLE & THEIR LAND/HOMES.

      NOW THE BANKS AND COURTS ARE NOW TRYING TO MUSCLE IN AND STEAL HOMES, BUT YOU CAN’T ERASE HISTORY OF LAWS BECA– USE THERE WAS NO FORECLOSURES BACK IN THE OLD DAYS.

      WHAT WAS WRITTEN BACK THEN IS STILL UNIVERSAL FOR THE ALL THE PEOPLE NOW AND FOREVER; YOU JUST HAVE TO GO AND CLAIM IT.

      SO THAT’S WHY THE PEOPLE NEED THEIR LAND PATENTS ON THEIR PROPERTIES TO TAKE BACK THEIR HOMES.

      THE DECEPTION OF COLOR OF TITLE WILL NOT EVER DEFEAT LEGAL TITLE, AND THAT’S WHAT YOUR LAND PATENT GIVES YOU….

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