MERS Suit Seeks Class Status
Plaintiffs suing Merscorp Inc., which runs an electronic mortgage registry system, moved for class certification Thursday in a suit alleging Merscorp overcharged mortgage borrowers during foreclosure and loan modification proceedings.
The complaint seeks to represent hundreds of thousands of mortgage borrowers across the U.S. who were subject to enforcement actions on mortgage notes held in Merscorp.’s Mortgage Electronic Registry System, according to the motion, filed in Delaware federal court.
Copy of the 2007 complaint below…
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4closureFraud.org
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Trevino et al v. Merscorp Inc. et al
The banks are ALL shareholders in MERS > http://www.mersinc.org/about/shareholders.aspx
You are correct in saying that MERS is nothing more than a registry database, but the key is to get the law to recognize that fact. Until the courts are consistent on MERS standing I am afraid the banks have no choice but to continue to defend them because once MERS has vested interests in millions of loans as trustee, what do you do with that? Are the Court fair and honest enough to interpret the law fairly? Some are and some aren’t. This needs to go all the way the Supreme Court. I am afraid the banks have enough money to make their illegal actions legal and give standing to MERS.
I hope (and pray) that I am wrong and justice and truth prevails.
I am happy to say I received a letter from my mortgage company (SPS/ MERS) they have informed me by letter, a decision was made to release the lein established by them or deed of trust and no further obligation is owed on the note. I am almost afraid to be happy for fear they owe me more than this. I will accept this for now. I had been complaining about my balance and payments rising when they sold my loan the last time. I never noticed it before this last time. But I am at least happy they have given back my home.
WOW JOAN…Congratulations…! Were you in foreclosure? That is a scenario I have never heard of..hope to hear a lot more of this and a lot less of all the rest…!f they released the lien you are free and clear! That is great news!
The fact they said no further obligation on the note, is proof that you have legal recourse to own your home free & clear. I hope you win.
I am in! Where do I sign up? Also check this story out…This might be a post you want to throw up on the main board!….
http://online.wsj.com/article/SB10001424052970204409004577156881098606546.html?mod=djemalertNEWS
Bank of America Ponders Retreat
Bank of America Corp. has told U.S. regulators that it is willing to retreat from some parts of the country if its financial problems deepen, according to people familiar with the situation.
Executives at the Charlotte, N.C., financial giant put the potential move on a list of emergency scenarios submitted to the Federal Reserve last year, these people said. While people close to Bank of America insist that no retreat is imminent, even the possibility of selling branches and losing customers it spent huge sums to lure underscores the depth of its problems.
Among the 7,400 U.S. banks and savings …
I am also suing MERS before SECHUD S. Donovan of Obama’s Cabinet. My suit is for mortgage discrimination by MERS in violation of the Fair Housing Act of 1964 and 1986 and subsequent amendments.
pLEASE SIGN MY PETITION THAT WILLEVENTUALLY BE DELIVERED TO THE WHITE HO– USE AND SECHUD DONOVAN.
BEST REGARDS
DAVID
http://www.change.org/petitions/homeowners-discrimination-petititions-to-us-federal-govt-hud-agency-for-bank-restitution
Done..best of luck to you David!
The lawyers will get the money and the victims will still be victims.
MERS is a sham….MERS is not a bank….they cannot own a loan…..MERS is part of the racketeering operation instituted by the banks in order to hide all of their mortgage fraud…..this is how they hid how many times they pledged these mortgages because MERS does not assign and record…..
“MERS is not a bank….they cannot own a loan”
Vent so very true….. MERS is nothing more than a Computer Database and some software to access it… Thats it .. It is nothing more than that and MersCorp is the company that owns the database and the software…,
MERS is a nominee for the lender is another scam….there is lots of crazy stuff they thought they could make us believe.
2007 filing?????Where has it been for the last 4+ years? You would think something would be going on after filing this after 4 years! So what’s the scoop on this????????
I emailed the attorney for the plaintiffs on this case and asked her for an update since this was filed in 2007. Oh, I am referring to the original posting here; not all of the comments that refer to something else.