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Counties Seek Millions From Mortgage Giant
Most Americans have never heard of it, but this mortgage industry holds interests in 50 percent of all U.S. home loans.
No, not Fannie Mae, or Freddie Mac either.
Mortgage Electronic Registration Systems, otherwise known as MERS, is a private firm that tracks ownership in hundreds of thousands of home loans. The computerized network allows banks to buy and sell mortgages without having to record the transfers at the county level.
An added bonus for the banks is the avoidance of county fees. When MERS is used to turn a regular mortgage into an investment, financial institutions don’t pay “recording fees,” which are usually small charges of between $50 and $100, to the counties where the underlying properties are physically located.
This has some county clerks upset.
“The average Joe who comes into my building, hard working people, have to pay the fees,” said John O’Brien, register of deeds in Southern Essex, Massachusetts.
“Why in God’s name can’t banks and Wall Street lenders do the same thing? Play by the same rules!”
Check out the rest here…
Don’t forget to watch the video…
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At last criminals are called what they are. Do the crime -Do the time. My kids would go to jail if they thought of doing what the friendlay bankers have done to our society.
MERS was the intent to cover up the ORIGINATION FRAUD. MERS is a distraction. Where are the ORIGINAL NOTES? They DO NOT have them, or we would NOT have the deeds. As far as I know possession is still nine tenths of the law. These mortgages never really existed. Find the Origination Fraud and you will find out why there is all of this other fraud and all of these other distractions. The mortgages were fraudulently induced at the Origination. They wanted collateral I believe, to gamble with on WALL STREET for the mother of all PONZI SCHEMES, and they used all of us to perpetrate it and get filthy rich off of it. Then they robbed all of us when they blew the shit up and then the stock market crashed, more robbery and then that blew the economy to smithereens. Impoverishing millions and stealing property from millions after collecting on the PMI insurance and the Credit Default Swaps from bailed out AIG, who were broke because they pocketed and stole the money they made off of whatever shit they created. Then they all took the bailouts and pocketed that money and threw struggling homeowners under the bus and then they figured, there are still fraudclosures left for dessert. ” Let them eat cake” is what they said to millions of struggling Americans that they screwed and now millions of Americans are saying off with their heads, and YOU CROOKS CANNOT PROVE THAT YOU OWN SHIT.
MERS is a lying sack of shit.
MERS is not paying recording fees because it’s ass is being protected by the slime scum politicians who take payoffs from MERS to prevent them from doing so. As for the recorders office and the a-holes they employ, there is no shortage of a bunch of wise ass morons who won’t get up off their asses to help unless your one of their relatives. Here in Westmoreland county, Pa when you walk into ANY department of the county courthouse you are treated as if you are an escaped serial killer! So I don’t feel sorry for these maggots as they are as much the problems as MERS. When a person is down on his or her luck these pricks kick you in the stomach. Time to start kicking back!
SISAC
• Secure Identity Services Accreditation Corporation (SISAC) is a wholly
owned nonprofit subsidiary of MBA (Mortgage Bankers Association)
• SISAC is responsible for accrediting digital identity credential issuers for the
mortgage industry
• Common (authentication) credential policy
• Policies for governance of credentials
• Minimum technical standards
• Contracts (business) infrastructure
• 3rd party audit for compliance
• Support for multiple risk models (high, medium, low)
• Liability requirements for Issuer (1M, 5M, 10M)
• Wholly-owned non-profit subsidiary of MBA
• MERS (eNote Registry) credential requirement
Thank you once more for sharing your insight with myself and others.You are an inspiration because of your drive and perseverence.I used to just come on the site and read and see what is going on.However you have given me the courage to stand up publicly and make myself known.I have never used a computer or chatted until this point as I never figured there were any other people having this problem.I had no idea that it is as wide spread and pervasive as it is.I had this same problem 10 years ago with a different house and tryed to get people to listen to me then.They just thought I was some kind of a nut case and payed no attention.Imagine my amazement that what happened to me 10 years ago is considered to be common accepted theory in todays world.Again my thanks to you and others that write here as well as it has been an educational expierence and a broadening of my views as well. Pam
I vent i tried to get my county auditer interested in the fee’s that should be due them due to mess.These people looked at me like I had grown an extra appendage out of my head and told me that this was really not my business and that I should distance myself from people who were giving me these far flung ideas.And I quote this does not affect the state of WA. or the people in it.I said I have MERS on my mortgage so I know this is not true.To which I was told we are not having this problem and we can not discuss it with you.I mean where do you go when nobody will pay attention or do anything about what is going on?Senators ,Congress,AG’s the story at least here just never seems to change and the people here just keep buying into it.Thank you for your response,I always appreciate any help I can get.
I have encountered this type before. I think they know what is going on, they are playing the game too, and want to find out what we know. Some are helpful, depending on what county you are in, others give you a hard time. They want to know what the people are thinking to report back to whomever. The AG’s, too they are all in on the game. These people do not want us to think outside of the box and are trying to make us think we are the crazy one or they say do not listen to crazy talk on the internet, blah, blah, blah……… Just llike my AG’s office told me she got no complaints about PHH mortgage. BLAH,BLAH, BLAH, Yeahm right. I read hundreds of complaints on the internet about PHH. We just have to keep plugging away at them. Screw them. I say keep calling the bastards out. They hate that. Knowledge is power, they hate that too. To Know the truth, that is our best weapon of defense. Don’t back down.
I veny that is the best piece of advice that can be given to the American public.Whether they will take it and quit paying thier mortgages remains to be seen.People that are not directly connected to this mess still seem to be of the mindset that it is our problem and not thiers.Only when thet are finaly caught up in this mess do they seem able to comprehend that it is about everybody and not a select few.I wish I could say I think they will change thier view points but I don’t see that happening in the near future.
@Pamela: Many people still do not yet realize what is going on. They might know something is not right, they can’t quite put their finger on what it is. It is a process, don’t you think? We were all there once. Right there where they are now and now here we are, we now know we got screwed.. They will not realize what was done to them until they are here, where we are. There will be alot more like us, what the foreigners and the traitors of America are doing is quite devicive and is strategic financial terrorism. These Americans think they are safe but are probably robbing peter to pay paul right now and do not know why or they work and work and never seem to make enough money, they can’t get ahead of the 8 ball.. Then when they lose their business or jobs and can’t pay their mortgage or their bills they will be here too, It is unfortuante that we were like those sheeple to at one time or we would not be here today if we weren’t. People have to get screwed really bad to get really mad unfortunately this is the case most of the time.
GOOD INFO!
MERS is a private firm owned at controlled by the SMOM/VATICAN/JESUITS. In MERS your loan is also called a MOM loan and what does that stand for? Military of Malta. The U.N. holds all land in America in fee simple and the U.N. is the SMOM/VATICAN/JESUITS.
Max Keiser spot on today reporting with Stacey Herbert from Egypt. He is telling Americans WALK AWAY FROM PAYING THE MORTGAGE, By paying the mortgage we are enabling the terrorists like SMOM/VATICAN/JESUIT owned Goldman Saks to terrorize us and the world.. He said if America does not revolt, They will have ALL Americans working as slaves on their wALL STREET PLANTATION. THAT IS WHAT THEY WANT. A NATION OF PROLES. Matt Taibi also wrote about how they are using Nazi tactics on Americans and we must think outside of the box AND DO NOT PAY THE MORTGAGEor we will all find ourselves living in Weimar Germany, in his Rolling Stone article back a few months ago. Dylan Ratigan also said stop paying the mortgage, America.
STOP PAYING ? Millions have already stopped paying…..Millions are now ordering Title Searches forensic audits and moving their money from the big banks.
Even those not in Lis Pendens or Pre-foreclosure……..Realtors & Brokers have only been able to sell to CASH BUYERS….New Construction Builders are advertising based on the “Mortgage Mess” FINALLY the general public is aware & wary of Clouded Titles & MBS on existing homes on the Market-Short Sale is now known to be a loooooong Sale if at all be it private or REO…….
the bank forced me to stop paying by NOT ACCEPTING PAYMENT-many programs would not accept applicants that were not in default-“if you are not in default you do not qualify”. Underwater owners that remain current are asking “Where is my help”.
Countryfried & BOA could not “verify” my Account #-“no such Account”.
So my Attorney set up a trust account to prove my ability to pay, willingness to pay, (begging to pay arrears of 800.00 (yes eight hundred measly dollars)+ fees and ability to pay on a timely, regular basis. on my underwater homestead property of 10 years. They could have accepted $1000.00 and not spent many thousands to begin Foreclosure. They have not responded, nor has the Judge to a MOTION TO COMPEL-IN CAMERA-since Aug. 2010
JANUARY 2011
I STOPPED PAYING INTO TRUST ACCOUNT. Now I feel like I have stolen from myself.
The Bank may likely find a way to take my trust account, Even if they are not the rightful owner of the Mortgage or Note-which are Bifurcated, Robo Docs, Improper Service, MERS. on & on blab blab.
I’m sure they will find a “legal” route to take my Trust Account, IF/when they “REDO” my Foreclosure.
Imagine if everyone just “walked away”……millions of empty homes…to rot with all the previous illegal foreclosures that banks have not even transferred title on YET. They leave the property in the
Foreclosed owners name to avoid IRS, County taxes, HOA fees and Code Enforcement fnes & because they cannot even prove who owns what-who’s on first- to themselves or their investors.
YES I AGREE-everyone in the USA with a MORTGAGE, including those that have PAID OFF MORTGAGES should have a professional MORTGAGE, & NOTE & DEED,TITLE-FORENSIC AUDIT.
@Catherine McManus: I understand your frustrations.So are all of us. I think what these people are trying to tell us is we really are all in the same boat, whether everyone believes it or likes it or not so, Why pay the mortgage? Pretender Lenders have gone so far as take peoples payments who have been paying on time and have thrown them into default under there noses and then when the people check their credit report they find they are in default. Then the louses offer them a loan modification. The FBI confirmed to me this is true. There is something really sneaky going on. I heard a rumour that we are all going to be soon paying our mortgages via our property taxes. I have a feeling this was already been done a long time ago. We have been getting double dipped and we have all been deceived and robbed. I think that is the bottom line.
In other words we will all be renting our homes it is because the banks “screwed up”. They will call it a crisis A/K/A creating ORDER OUT OF CHAOS. Anther sneaky way to sneak in socialism.