Asshat alert…
Ajay Rajadhyaksha, managing director of Barclays Capital, concurred saying to make private label RMBS issuance more attractive, there needs to be a “transparent and timely way to enforce representation and warranties” agreements.
Furthermore, Rajadhyaksha believes legalizing the Mortgage Electronic Registration System (MERS), a controversial mortgage registry, will streamline the legal process to accurately transfer loans. “Make this process uniform across states,” Rajadhyaksha wrote. “This will remove uncertainty around the documentation related to proper ownership of these loans.”
Full article here…
Not even gonna comment on this one…
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MERS should be shutt down all together. Their is already a records recording process that has been used since this country’s birth. And has worked very well. With NO FRAUD to hide, why would MERS be needed? All they did was shiest more money out of our local finance coffer’s. Like a pickpocketer. While the bankster beat and robbed you from the front. MERS bumped you from behind and steales whats left (your house) from your back pocket.
So If Mr. AJAY RAJADHYAKSHA he said, lets “legalize” MERS, Does that mean is ILLEGAL?? mmmmm……..
acmodspecialist, LOL? I know right? They are all looking more ridiculous everyday……Liars never win, the lies always catch up with them in the “end”……Now they just look like the picture at the top of the page…!!!
is this disgusting Indian even an American citizen ?…….send him back to BOMBay
The man has obviously not viewed a single MERS milestone report.
Barclays is THE major insurer for RMBS. If you check the PSA, Barclay’s may be a party to your securitized mortgage. If they are a party, your attorney may want to subpoena Mr Asshat to elaborate on the illegality of MERS.
These mortgages are only securitized to one thing, the U.S TAXPAYERS….WE PAID FOR ALL OF THESE HOMES TO BE BUILT…WE FUNDED THE WHOLE OPERATION…THAT IS WHY WE ALL HAVE THE DEED TO OUR HOME WITH NO LIEN ATTACHED……WE WERE SCAMMED ALL OF THESE YEARS INTO PAYING INTEREST ON OUR OWN MONEY….IT WAS A GIANT MORTGAGE FRAUD PONZI SCHEME WITH TAX PAYER MONEY AND RETIREMENT MONEY….THAT IS ALSO WHY WE NEVER GOT A CHECK A CLOSING……THE BANKS HAD NO SKIN IN THE GAME…THEY ALL — USED US….AND GOT FILTHY RICH OFF OF IT….THE GSE’S BOUGHT BACK THE LOANS AT PENNIES ON THE DOLLAR BUT THAT WAS ALSO FRAUD…….AND ILLEGAL AND UNCONSTITUTIONAL CONFLICT OF INTEREST…NOW THEY MUST RESCIND…NO WONDER MY COUNTY RECORDERS OFFICE TOLD ME MY HO– USE IS PAID FOR, I CAN LIVE IN IT, SELL IT OR DO WHATEVER I WANT WITH IT….WE ALL PAID FOR OUR HOMES…..THIS WAS A REALLY BAD ATTEMPT AT SOCIALISM….AND IT IS GOING TO BE A HUGE FAILURE WHEN THE PEOPLE FIND OUT WHAT THEY DID AND HOW THEY SCAMMED ALL OF US..ALL HELL IS GOING TO BREAK LOOSE…WE WOULD ALL BE RICH BY NOW IF WE HAD ALL OF THAT ILL-GOTTEN INTEREST MONEY THESE FOREIGN OWNED BANKSTERS SOLD…AND THEN THEY RANG US UP FOR 40 TRILLION IN DEBT WITH COLLATERAL FRAUD? WHOA!!!! THEY ALL BETTER RUN FOR THEIR LIVES…..!!
AND THEY ALL OWE US A TON OF FUCKING MONEY I MAY ADD…..AS WELL AS THE IRS…
I vent….No one could have said that better…right to the point…this is what I feel alot of people are not getting…(.the banks had no skin in the game.)……it is all a big confusing massive fraud scheme…but I find if one keeps repeating what you say…it all comes together….I worked on my daughter’s foreclosure long enough, many hours….kept notes as I went along…and could see nothing added up…that was when my anger started to flare…I had to get to the seed of the problem…each step I found made more anger flare…need I say when I found the seed and how invasive it was…I was a screaming wild tiger…and I still am. …..some people say..” Get over it ‘ ..they are tired of my ‘ bitching…they can stick it where the sun don’t shine…..I will not shut up……
Thanks Marilyn..Was watching Obama’s speech tonight…….He said this is not class warfare….WOW, really? Could have fooled me..the money seems pretty worthless to me when you have to actually use that monopoly money to pay for stuff in the real world…the world none of them live in….Gov. Quinn of Ill..is set to lay off 2000 state workers and shut down mental health facilities and all kinds of institutions across the state…He said this was the ILGA’s doing not his and he is following their orders…WOW again, We are to believe he is that powerless..that is simply more manufactured bullshit to cover up for all of the fraud…….That pension money is really going to be drying up fast when Quinn does this…..All of these job losses means less money to feed the Ponzi scheme. All of the fraud and corruption is bankrupting America..Quinn thinks taking jobs from the people is going to solve the states fraud problems and.Obama thinks throwing money at our problems to create jobs is going to fix the mess Wall Street created…Abolish the Fed, issue our own currency, take the money out of politics, make Wall Street pay and restrain them from ever being able to ring America up again…The rules and the laws were already in place to protect this country from this manufactured mess the same criminals created during the last Great Depression, and that was on a much smaller scale than this all out financial coup de tat by the ruling elite……and the traitor Politicians are corrupt and treasonist and we have to remove them…..Now the fake terror threats by Al CIADA are on the MSM…..Noone is drinking their manufactured crap anymore are they? CNN had a live report from NYC and cut away fast because there was a crowd in the background yelling something that CNN did not want us to hear…I hope that gets replayed by AC later…..the people have really had enough of the lies….The more I watch the MSM and the politicians. the more fake and staged it all looks….I think many Americans are noticing this and waking up……Everything the MSM and the politicians tell us to believe is a manufactured scam and big lie….Time to take our country back…these bastards are all bought and working for the enemies of this country.. They all make me sick….
I vent……Not only have the people paid for the homes…they also paid enough to have mansions….. money to retire on…or at least to enjoy life….not living hell on earth. I don’t think the foreign banksters will be able to run…it is hard to run when you are down on your knees….and chains hold the ankles together…. KEEP PUSHING FORWARD>>>>WARS ARE NOT WON BY COWARDS…. This Raja guy…he admits that MERS was illegal….shut his doors….he knew what he was doing all along….just another rotten thief…among many. A thief and a liar will sooner or later trip themselves…..give them enough rope and they will hang themselves…..
Right on Marilyn!!…the ruling elite with the help of many of their cohorts and minions, have swindled the American people out of all of their wealth and the full intention here was to steal as many of our homes and businesses as they could grab…and then when and if they got caught…they thought they would make us into a nation of renters and say Oh well, the fraud is so huge it can’t be fixed so everyone is a renter now…..Wait a minute, not so fast, the U.S. TAXPAYERS FUNDED THIS ENTIRE MORTGAGE FRAUD PONZI SCHEME………..Greedy bastards all of them…..I saw I think on the History Channel that Empires always fail because of greed….The ruling elite fully intended to make it look like we were greedy and bought stuff we could not afford but the truth is they used us to make hundreds of trillions off of our signatures and overspeculated OUR collateral, by 40 trillion dollars ….The American people funded their whole scheme and WALL STREET WAS ALLOWED to take full advantage of the American people horribly, masively and perniciously and ring America up with trillions in falsely derived unsustainable debt…..The ruling elite thought they were just going to walk away with this country and they thought they corrupted and bought up everyone they needed to pull of the biggest PONZI SCHEME SWINDLE AND HEIST in history and steal the United States of America right from under our noses…….Thanks to some really honest Americans their evil plans are failing…..If the true intent of this entire scheme was to make America into a nation of renters the truth comes down to this, our homes are already paid for many times over by all of US, the U.S. TAXPAYER………The truth is coming out now that Social Security is a Ponzi Scheme….well the entire country is a Ponzi Scheme….and always was….America was a huge social experiment, they just never told us….and the ruling elite, who collect our tax money and mortgage money, took full advantage off of the backs of the American people…they were all whoring off of us….and the U.S Government not only allowed it to happen, but got greedy as well. Those at the top of the pyramid robbed America blind and now because of that we have impoverishment that is trickling back up to all of them…..The ruling elite have been having their way with this country for a long time and fully intend to end America as we know it by making all of us pay for all of their fraud and force the entire country into bankruptcy……to take America over without ever firing a shot.. They now have stolen all of the wealth so now they just want AMERICAN SLAVES……..It is time for America to reinvent herself and throw all of them out….including the treasonist politicians working from within for our foreign enemies…..First thing to do, ABOLISH THE FED……We have to demand our own currency…..The Federal Reserve system is slavery…..The ruling elite have pulled a fast one here and have allowed all of this massive deception…and why? The American people would have never agreed to any of it…..That is why the ruling elite create wars and strife to make the people beg for their help. The bottom line is, they don’t own us, it is all a BIG LIE..AMERICA IS NOT BROKE and…The U.S. TAXPAYER has not only overpaid for everything they own, but now they all owe us…..Time to tell the ruling elite to get the hell out of dodge….they don’t own shit….they steal the wealth of nations by deception and lies and that is all they do……
If this is socialism, then capitalism equals socialism, and if so, we have been worshipping “socialism” for all these years. No, my friend, this is not socialism, this is raw, naked, and brutal capitalism.
Sorry to say so but Maharaji wwhhhaaaatttt! needs to be strung up…..and then his body shipped to some undisclosed foreclosure location and buried without a headstone….couldn’t fit his name on it anyway.
Have all papers signed in front of a judge and two witnesses. Any judicial misconduct in any way would subject the judge to expulsion. I don’t mean a slap on the wrist through the grievance committee.
All future recording should be done this way. BTW the banks should pay for this service and not add it on to the consumer through disguised service fees etc.
At this point it really does not matter what they try, stick a fork in em they are done….bottom line, they defrauded the U.S. TAXPAYER massively…WE FUNDED THIS WHOLE OPERATION….OUR HOMES WERE PAID FOR OUT OF OUR OWN TAXPAYER DOLLARS……..WHICH GENERATED THE DEED FROM THE U.S TREASURY DEPT….THEN THE BANKS CHARGED US INTEREST OFF OF OUR OWN MONEY…..AND MADE HUNDREDS OF TRILLION OFF OF THE DERIVATIVES AND OTHER SCHEMES BY GAMBLING OFF OF OUR SIGNATURES…..THEY TOOK THE BAILOUTS AND STILL FRAUDCLOSED…..THEY NEVER LENT US A DIME…RANG US UP FOR 40 TRILLION IN COLLATERAL FRAUD, BACKED BY OUR HOMES THAT WE PAID FOR, GAMBLED OFF OF OUR SIGNATURES, AND THEN ROBBED US OF OUR WEALTH TO COVER UP FOR ALL OF THEIR FRAUD……THE BANKSTERS BETTER RUN!!!!
Your analysis is correct. What me must not forget and what should be our driving force in combatting an economic system that has made serfs of 21st century dwellers and has denied us in a choice of whether or not we want to participate in their corrupt and self-centered lust for control and power, or whether we are truely free individuals that can live a cooperative life where intelligence overcomes raw, hostile emotions.
Legalizing MERS. Where did this Ajay come from? I think he has been sleeping under a rock.
Tell the idiot that the reason this country is in this mess, is because of all the fraud endorsed and created by MERS. If he was to read the WHITE PAPERS, he would learn that Fannie and Freddie and all the banks created MERS with the help of Angelo Mozillo, of Countrywide. Now Fannie and Freddie (once members of MERS) are now suing the banks, which are also members of MERS. He should stop and think how best to serve his investors, first warn them about MERS. Until MERS is shut down this crisis will not end.
Hey legalize fraud, crime, clouded titles and the banks can go on with their corruption in a good timely manner and we can send our criminal defense attorneys home. Great deal for the banksters. who cares about the law and the American citizens, the victims. WOW! HOW CAN THIS GUY SLEEP AT NIGHT? WHAT NERVE!!!!!!!!!!!!
We can legalize all crime and there will be less prisons needed. We already have over 800 empty prisons we dont need now, for what we fear?.
Shelley…..He may sleep with one eye open…if not…maybe he should. He is just blowing hot air….he knows all their asses are in the wringer…..at this point all their talk is worth nothing….We the People now have all of them looking for an escape excuse…..nothing can be fixed..it is already done and no turning back….we are pushing forward and gaining more strength and will not stop. .
Note he said, lets “legalize” MERS, assuming they are operating illegally now! He is absolutely correct in how he framed his request. MERS is operating outside law in almost all if not all states now. If we leaglize ‘Ponzi schemes” we all could make money on pyramids, etc. Just make fraud and crime legal and we are good to go, right? Protect investors from bad products but open the gates on scamming homeowners. Oh, well, what is a little thing like property law? We don’t even have consistent foreclosure laws yet bankers working across state lines manage to circumvent state law to suit their purposes, making rules as they go, now wanting to change law to support!
What have we come to in this country? When there is no integrity or respect for law or for people, we have truly entered an era of corporate dominance where law is framed by whatever the bankers need.
Well there you go. It was’nt legal from the start, just like the loans they’ve recored.
If MERS were to do the job description of being an archival of MERS members filings,
and registrations, it might work, as long as also all changes made to the ownership of the
said property are filed at the local level at the county court house. BUT that is not what
MERS has been used for. It has been used to commit fraud, theft, and ruination.
MERS needs to be deconstructed, reversed engineered so every detail can be investigated.
If you look at the schedule on the MERS website of the latest news, they have changed their
access and procedures several times within the past year. Investigators can no longer access
the homeowners side without the individual ss# of each borrower to see who is listed as
the true lender. Earlier they deleted access to a second level of information as to who the
borrower is. MERS needs to be outlawed and banned from being used by the real estate
mortgage industry. The people who designed this destructive software also need to be
investigated, the people who pushed this software also need the same treatment. Who
ever they are.
Let’s make racketeering, and all frauds legal while we are at it.
I thought ….. they already had !
good point
Another industry Dbag who has no clue about the law.
I AGREE!
***ALSO. Wouldn’t any intervention by the Federal Government, to make it ‘legal’, cause undo damage to the State’s and Local Municipalities, and trample on State’s Rights?
It needs to go back to the old system of recordation at the courthouse. Actual paper. Actual recording. For the World to see, and be put on notice.
Transparency does disinfect.
Mad, you are right. Nothing is better than INK and PAPER. Then record it so there is a duplicate in digital form but the original INK PAPER is Kept in a vault some where till needed again in any transaction. It is to easy for someone to recreat a digital document. So did the banks realy save any money in the end of this. I think not after all the law suit’s. Well I’m shure they made unmeassurable profits still. They where in such a hury I thing to milk the fraud for as much as they could at first because you know a theif never dally’s around while commiting a crime, they hury before someone notices them and speed away in haist in a vehicle. You never see them stop and have a coffee break in the middle of the crime. But when know one seem to notice they all laughed while they walsted slowly to the music of the GREAT COMPOSER (MERS) all the way to the bank vault. Like a drug cartell with a secret tunnel. When they introduced MERS. Where wher the states and county records people? How come they did’nt sue and stop this shit before it was laid. Now would the government relie on digital documents like treaties and all official papers to be done this way when it comes to all affair’s. They even use a certain pen with a certain type of INK and that pen is kept with the record. Do you notice when a decloration or important document is sighned by an official like the president he use a diferent pen for each. This is to authenticate the process. (cannot be forged) Once a document is in computor form it is easly manipulated and can be hacked out of the system. And whome would wittness such documents to their lagitimacy. This is why it has alway’s been done with INK and PEN by HUMAN HANDS AND AN ATHORITIVE EYE and BACKED BY PUBLIC RECORDS. I think that Banks should be like a none proffit organization and can only hold assets for their customers. and the loaning of money should be a different regulated entity all its own. Investment/loan brokerage of some sort. Most of us are not investor’s. We just want a safe place to store assets. Why should a bank be able to lend someone elses money? Bank meens to stay put/to hold. And if a bank is investing your money you should have a say to whome they have invested to. Banks are using your money sometimes for the wrong reason’s some of which finaces wars to kill mabey even you. Talk about your money working against you!
Same with voting — paper votes, actual pencil marks, actual vote counting. DIE, DIEBOLD! DIE!!
As long as MERS registers each and every change with the local registrar of deed it should work–LOL.
However, any ‘legalization’, should not include loans already recorded in their systems. That would be like putting the toothpaste, back into the tube. Right?