I AM WITH YOU AND READY TO GO

The problem MERS has is it changes “hats” depending on the forum—it claims to have an interest as a beneficiary of the express trust agreement (Security Deed) and in the debt sometimes——and then claims it doesn;t and cannot on other occasions.

The Nebraska court’s ruling reveals this explicitly and described such actions and positions by MERS’ attorneys as “schizophrenic…” Rightly so…..you cannot be a nominee and beneficiary/owner/holder at the same time…in the real world anyway.

Do you have an attorney involved? Have your counter sued? This is complex litigation and I would advise obtaining legal counsel if you are able…otherwise you will be responsible for contesting this very apparent fraud on the court.

1. MERS may not act as a trustee or fiduciary for anyone in the state of GA, which is what the Security Deed actually requires it to be, thus rendering the Security Deed void from the beginning, and thus any promissory notes associated with the Security Deed become at best unsecured loans.

2. MERS must only act, as a nominee, at the express written instruction of the Lender holding the Note.

3. The Note in question was never assigned, sold or transferred to BOA and BOA was required to record the assignment of the Note by the original lender PRIOR to proceeding with its non judicial foreclosure.I have spoken with the President of Bank of America’s office about proving chain of title and a loud, whooshing silence has ensued.

GA allows a suit for damages for wrongful foreclosure as a tort.

The original note must be produced by the purported note along with any assignments. Those too were to be recorded in GA at the county level.

Allonges are infamous across the country and any lawyer who would present to a court a separate piece of paper apart from the note has serious legal and ethical issues.

A friend of mine faced the same situation in Indiana with Deutsche Bank — and the bank lost because it could produce no legitimate assignment but kept submitting allonges.

I suppose it all depends on where one is and in what state however, the Uniform Commercial Code is pretty clear about legitimate assignments and each state has recording requirements, Florida included.

What is interesting is these banks have been the beneficiaries of the recent “bailout” and so basically have been paid for the face value of the mortgages and any deficiencies—-and are now double dipping with foreclosure actions on homes that were paid for by the bailout.

I would encourage you to stick to your guns and request a forensic inspection of any allonges filed and the same for the original wet signature p-note.

In a parallel example, even lenders who have had student loan p notes assigned to them and cannot produce the original p-note will have no standing to bring a default action absent the original note — I worked for the Florida Dept. of Education in the documents scanning division and we kept original wet signature p-notes in a literal vault—and were chastised and threatened with termination if we left those p-notes out of the vault overnite because “they are money…”

The fact your case has been “put on the back burner” is a good sign—but be diligent….the ramifications of this gargantuan break in the chain of title and gaps in the mortgage audit trail are far reaching—-global in nature….the largest investor in Fannie Mae.Freddie Mac is:

The nation of China…..who also financed the “bailout.”

The house of cards is about to collapse…but those who own the house of cards are very good at convincing “us” the “emperor has clothes…” when he does not.

Hope this is helpful.

David

If MERS, by their own admission, has no beneficial interest in the mortgage, what is your claim against them, other than the fact that they can not assign to another entity that which they do not have ? I’m interested to know what your focus is if you have the time to share a little more.

We have a mortgage that originated with Aascent Mortgage and then went to Amtrust bank and then to Wells Fargo. It’s a MERS mortgage, and the house is in Florida where MERS isn’t allowed to initiate foreclosures. However, unlike our other foreclosure in Florida which is with GMAC, who filed the foreclosure after MERS fraudulently assigned it to them, MERS did not assign it to Wells Fargo. Instead Wells Fargo “created” an allonge to the note, alledging to assign the note from Aascent to Amtrust, and attached it to the complaint they filed in April 2010. The allonge was not dated, other than to include the date of the original note, was not notarized, and was not included with the original mortgage that was filed at the county recording office, despite the fact that it claimed to be an allonge to the original note. It was signed ‘J B’ by someone named Jennifer Banville stating to be an authorized agent by Power of attorney for Aascent Mortgage Corporation. That’s it. No assignment from Amtrust to Wells Fargo, just some lousy, forged up, piece of crap, useless Allonge.

We have responded to everything that’s been filed in tthe case, but as of last August nothing has happened on the case. They must have put our file in the back of their files because they don’t want to deal with us.

I check 4ClosureFraud a couple of times a day and Ivent always has excellent comments. Helpful to the reader and really well documented and written. Thanks !