Comments on: Financial Services Industry Threatens Retaliation at Municipalities Who Use Eminent Domain to Fix the Housing Crisis https://4closurefraud.org/2012/07/21/financial-services-industry-threatens-retaliation-at-municipalities-who-use-eminent-domain-to-fix-the-housing-crisis/ - Fighting Foreclosure Fraud BY SHARING THE KNOWLEDGE Mon, 01 Dec 2025 18:02:18 +0000 hourly 1 https://wordpress.org/?v=7.0.7 By: MassResident https://4closurefraud.org/2012/07/21/financial-services-industry-threatens-retaliation-at-municipalities-who-use-eminent-domain-to-fix-the-housing-crisis/#comment-394873 Sun, 22 Jul 2012 12:07:06 +0000 https://4closurefraud.org/?p=50010#comment-394873 In reply to Tim Bryant.

Yup!!

]]> By: Tim Bryant https://4closurefraud.org/2012/07/21/financial-services-industry-threatens-retaliation-at-municipalities-who-use-eminent-domain-to-fix-the-housing-crisis/#comment-394619 Sat, 21 Jul 2012 14:56:40 +0000 https://4closurefraud.org/?p=50010#comment-394619 The TBA market is illegal anyway. San Bernandino should be blessed if they are excluded. The TBA market is exactly what it stands for “To Be Announced”. It sells your mortgage before you ever sign it. By doing so, the lender in your closing docs is not the true beneficiary at the time you sign it. EACH AND EVERY “MERS mortgage” in the TBA market is void ab initio, not merely voidable. MERS is not the beneficiary, nor is the lender in the mortgage, so they have no legal status to enter into any contract. Nominee status for an entity who has no “holder in due course” or “person entitled to enforce” status, is a nullity. The lender on the mortgage and loan are required to clearly disclose that they are an “accomodated party”, and not the beneficiary.

This is also true when a warehouse lender is involved, under a “Warehouse Line of Credit Agreement” which MERS acts as a dual agent for the warehouse lender, and the lender on the closing docs. That is in the MERS “Electronic Tracking Agreement Warehouse Lender”.

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