After reading and researching the whole MERS situation, I came up with an analogy that might be of some use if arguing in court;

So the banks developed MERS and use it as a bridge to bypass the county recorders office which streamlines the process of buying and selling MBS, saving them from paying county recording fees also!
Lets say the Big Automobile Companies were to do the same thing for all the auto dealerships. Create a company called “Automobile Electronic Registration System” (AERS) Now the dealer registers the new car with motor vehicle just once at the very 1st sale of the car, and when the car is returned at the end of a lease or traded in back to the dealer, the dealer bypasses motor vehicle and just simply makes all the transactions of buying and selling the car go through “AERS”. With that said, would motor vehicle be able to keep track of who the owner of the car is? Cars can be bought and sold many times over. This also would create the same loss of revenue for motor vehicle, no Registration Fees, etc. Would motor vehicle like losing Fees? How accurate would AERS records be?

Why not let any type of business that has to register something on a continual basis with our government, develop there own registration system…? Why would the government even, ever, allow MERS to be developed? Oh, that’s right, the banks needed a quick way to process transfers, assignments etc. to gain the huge profits they’ve received. (I’m not saying kickback to the Gov. ? – maybe that’s why Banks are bailed out and not consumers?)

Win / Win / Win / Win – for the Banks

* Banks are receiving money from consumers paying a mortgage, even with good payers or bad payers, cash is coming in. Paid$$$$win

* Banks are turning around and selling that mortgage to Fannie & Freddie and they sell it as a product to investors… Receiving Investments, Fees….etc. (avoiding assignment fees and transfer taxes to local counties) Paid$$$$win

* Banks have taken Bail Out Money from the government, (tax dollars) paid again! For Loses! Paid$$$$win

* Banks finally are reluctant to greatly help with modifications or to adjust loans to seriously help the consumer, so they foreclose on your home and get paid again selling the home…! Paid$$$$win

If you know of a “product” to sell in a business where we can get paid 4 times from the same product, let me know, I’ll open up shop tomorrow!

First of all, the Servicer (Wells Fargo, Bank of New York, Bank of America, Citi, Chase..etc) 1) wrongfully filed the foreclosure by not being the true owner of the loan/mortgage, 2) not having the original promissory note, 3) not filing assignments with the local county land recorders office each time the loan is sold and bought as a mortgage backed security it is changing hands meaning there is new ownership and an assignment is to be filed by law for change of ownership – not doing this breaks the chain of title of ownership of the mortgage, 4) using MERS (Mortgage Electronic Registration System) to assign mortgages on Wall Street electronically, which by passes the local recorders office and the banks avoid paying assignment fees, taxes, etc. MERS can not assign anything since they have absolutely no vested financial interest in the loan. Tell me when to stop! Oh, 5) the Robo-Signing which is perjury and fraud in legal documentation which is presented to the Courts by the servicing banks and their attorneys..! This now includes their attorneys office as presenting fraudulent documentation as well. / So, if a homeowner owes $200,000.oo on a defaulted home, I believe the 5 items above are enough to sue for at least the remaining amount of the loan due, and more then possibly sue for a greater amount for punitive damages.

In a nut shell, the servicing banks remain as the existing owner of the mortgage at the land recorders office as if nothing is going on, while they actually sold the loan/mortgage to Freddie Mac & Fannie Mae which are in return selling the mortgage off into bits and pieces to investors. So the homeowner makes the mortgage payment to the servicer, which already sold the loan, then they keep a percentage of that, they send a percentage of that mortgage payment to Freddie & Fannie and they keep a percentage of that, and they give the investor a percentage for buying a mortgage backed security. So they are all making money along the chain. It’s like a Mob controlled Pizza shop, the servicing banks are up front selling the pizza while the mob is in the back selling MBS deals. Hello… Racketeering! The servicing Banks, Freddie and Fannie, deliberately, intentionally, and with total disregard, are committing Fraud and Racketeering against homeowners and the courts. This all didn’t happen by accident. This started years ago when the banks needed more mortgages to sell as a security, so they began to write up and approve mortgages just to create more commodity (mortgage-MBS) to sell to investors, whether the homeowner would be able to make payments or not they didn’t care, as long as they had more product to sell.. They always just knew they would be able to foreclose and try to foreclose quickly. But they are finding out they can’t.

***If this were a murder case, it would be classified as premeditated.

Years back the banks began to turn a mortgage into a commodity, with good paying mortgages, then they saw they were running out of this commodity, so the big banks, including Fannie & Freddie started approving loans to almost anyone and everyone, not so much to just give that person a home to have, but they were more concerned about creating more of the commodity. More securities to sell to investors. They even knew some home owners would not last several years or several months, as long as they could say to investors, “Hey, we have more mortgage backed securities to sell”.

Now, to sell all these securities, they would have to create a mortgage assignment which is normally recorded with the county land recorders office for a fee. Physically, that would take up too much time and money, so the big banks invented and created MERS,(Mortgage Electronic Registration System). This electronic service was only created to track mortgages sold and bought in the secondary securities market. MERS legally has no invested interest in the mortgage, so they truly are not able to transfer or assign the mortgage acting as a nominee of the loan. But they are! Wrong. The chain of title of the mortgage is broken right here at this very early stage. The mortgage/note has to be assigned from one owning entity to the next owning entity. MERS never owns the loan, but they are creating and are listed on assignments at the local land recorders office. Now that the mortgage was bundled, sold and bought back and forth with investors, no continuing assignments are recorded with the county recorders office. By not recording these documents, Fannie & Freddie & and all your Big Mortgage Servicing banks are saving millions-billions on recording fees, and possible taxes, etc.

What I have found was that the Servicer of the mortgage is listed with the county recorders office as if they own the mortgage, while Fannie & Freddie or other Big Banks are selling the bundled mortgages as securities. Kind of like a Pizza shop cooking pizza legitimately up front, and a mobster selling off investments in the back. (Racketeering). The Servicer up front really is not the owner of the loan, and they tell you this. They also admit that your loan is owned by Freddy or Fannie, or the Investors. So when the Servicer now tries to foreclose on a homeowner, they are not truly the owner of the loan, and you have to own the loan to foreclose!!! Many never even question the Servicer and walk away from their home. Now to foreclose as quick as they can, that’s where the robosigners come in. These people do not review anything in the foreclosure paperwork about the loan, but only sign a name on the affidavit page on thousands of mortgages to get the foreclosure going before any homeowners begin to catch on.

You see, its a matter of a quick process the Servicing banks want to achieve in order to get the property in their possession, only to sell it. The crazy thing is, when the originating bank gives the loan, then sells it to the 2nd bank which mostly ends up being the servicer, they again sell it to the 2 major players (Freddie & Fannie) and they sell the mortgage back securities to investors. So the servicing bank gets paid for the mortgage and still collects payments toward the mortgage and a percentage goes to the Servicer, Fannie & Freddie and the Investor. So they are all making money. Then the Servicing bank comes to foreclose and if they are allowed to foreclose they get the home without true ownership, even though the loan is actually sold off into bits and pieces to investors. I can go on further, but to conclude, if this were a murder case, I would call this act of the banks premeditated, not an accident. This was all planned out in order to reach the highest profit they could using the mortgage backed securities as a commodity, and have total disregard, deliberately, intentionally ruining the lives of millions of homeowners.

room to talk?