Got it!
Full complaint below…
From the report earlier in the week…
Some very interesting spin in this one from MERS spokesperson Janis Smith.
Her statement…
“The MERS System is not a legal system of record or a replacement for public land records. No interests are transferred on the system—they are only tracked,” Smith, Merscorp vice president of corporate communications, wrote in a response to emailed questions. “MERS does not have or maintain any document recording system, public or private, and does not do anything to compete with or supplant the public records for land located in the County records.”
She then goes on to say…
MERS is the true owner of the mortgage, and is not, in the complaint’s words, a “straw man” placeholder listed in public records.“The ‘owner of the loan’ is the party who has possession of the promissory note, but the promissory note is not, and has never been, and is not required to be disclosed or filed in the public records”
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Florida Clerk, Delaware AG Sue MERS
County and state officials are turning up the heat on MERS, as recent lawsuits filed in Florida and Delaware challenge the validity and accuracy of the mortgage industry-controlled loan registry.
The most recent lawsuit was filed by a county clerk in Florida, and seeks class action status to represent the state’s 67 counties. The complaint alleges the use of MERS does not comply with state property laws and has cost municipalities millions in unpaid recording fees.
Jim Fuller, the clerk of Duval County, filed suit against Merscorp Inc. and its wholly owned subsidiary, Mortgage Electronic Registration Systems, Inc., on Oct. 31, claiming civil conspiracy, unjust enrichment, as well as fraudulent and negligent misrepresentation. The suit also seeks a hearing to determine the validity of tracking note transfers on the MERS System and a court injunction to prohibit the use of MERS in Florida.
“MERS has usurped the rights and privileges of the Florida Clerks of Court by establishing, maintaining and inducing lenders to use its private recording system, which unlawfully interferes and competes with the public recording system,” the suit, filed in state circuit court, reads.
Merscorp spokesperson Janis Smith said the suit’s allegations are inaccurate and false.
You can check out the rest here…
Full complaint and White Paper on MERS below…
Enjoy!
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4closureFraud.org
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The MERS Mortgage in Massachusetts: Genius, Shell Game, or Invitation to Fraud?
Thank you Jim Fuller. Very good start, keep it up. Now we just need the other Florida counties to join and every state to file its own actions. If it takes the banks down with them, so be it, nothing but a bunch of crooks anyway.
The banks made this mess, they can now pay for it. Prosecute them all for fraud and all of the accomplices, including the attorneys and the judges who have helped them.
Truth and justice need to prevail here, the country will be stronger for it.
If MERS is only for “tracking” then what unique service do they provide as the public land records are for “tracking” or should be.
And the public records office has never represented itself as the owner of property in court. And I can’t pay a token fee and get a vice president title at the local land office and start filing what ever the hell I want.
I should be able to go on line to a government data base and punch in my 3 letter original lender bank code followed by my original loan number and pull up an entire history of the ownership of my loan. (antiquated computer technology, not linked to closing agent documents, is our only problem) Write some good software for the manditory closing agent that is required for every note and mortgage movement. And stop allowing banks to alter loan numbers so we can’t figure out how many ways the same loan has been paid off. Big problem, simple solution! The address and persons name could be blocked from public view if this is preventing the use of this technology and only shows up on the government side so this information is only helpful to the person that has the loan number. And this system needs to include any insurance on the loan and any payouts on the loan by insurance. Who owned the loan and how much did they pay? I can’t believe we don’t have this so we use MERS for “tracking”. It is easier to ” track” a .50 cent used item on Ebay after the sale then a current million dollar promissory note after the sale. This is inexcusable with the level of our technology! Please shut down MERS and fix the “tracking” problem at the land records. SIMPLE SIMPLE SIMPLE SOLUTION Increase the responsibility of the closing agent and write some software!
More legal action(s) – from ACROSS THE COUNTRY and multiple county recorders read:
MERS on Life Support … Legal rasping – Death is near (linked below)
http://ohiofraudclosure.blogspot.com/2011/10/mers-on-life-support-legal-rasping.html
Could someone please post contact info for Jim Fuller, so that we might show support as we did for Eric Schneiderman. This is Awesome. It showed up on the Florida Realtors daily email blast today. Will be very interesting to see how / if the other 66 counties follow suit as they are all looking for revenue..
God bless Jim Fuller, and God bless Duval County, Florida!! I’m proud to have once called you home, and to currently be a neighbor.
Mr. Fuller lays out the case agains MERS brilliantly, in plain, commonsense, compelling fashion. A must-read of what is sure to now be front-and-center of the fight against MERS, and — more broadly — against mortgage fraud in general, nationwide.