Entered on the Court docket of the Southern District of Florida, a class action for damages has been filed against MERS, the Stern Law Firm and David Stern individually.The lawsuit alleges racketeering under the RICO (Racketeer Influenced and Corrupt Organization Act, 18 U.S.C. Sec. 1962 and 1964) statute, alleging that MERS was created “in order to undermine and eventually eviscerate long-standing principles of real property law…”. It also cites the “lost note” syndrome we are all so familiar with by now.

The lawsuit filed by Kenneth Eric Trent, Esq. in Fort Lauderdale, Florida reads like a mystery novel. He probably has an incorrect chronology of a few details of the actual way securitization played out, but on the whole, the complaint is worth a read and he should get all the help you can give him. He includes actual testimony in the complaint taken from other cases in addition to a very well-written narrative. Here is one quote I liked —

“Unbeknownst to the borrowers and the public, the billions of dollars spent to fund these loans were expended to “prime the pump.” The big institutions and the conspirators were making an investment, but the expected return was NOT the interest they pretended to anticipate receiving as borrowers paid the mortgages. The lenders knew that the new loans were “bad paper;” this was of little concern to them because they intended to realize profits so great as to render such interest, even if it had been received, negligible by comparison. Part of the reason this fraudulent scheme has gone largely unnoticed for such an extended period of time is that its sophistication is beyond the imagination of average persons. Similarly beyond the imagination of most persons is and was the scope of the DISHONESTY of the lenders and those acting in furtherance of the scheme, including the present Defendants.”

18 Responses

  1. Do you SWEAR to Tell: The TRUTH, the whole TRUTH, and nothing but the TRUTH?

    Mother Jones shows some cojones!


    Excerpt From: M O T H E R J O N E S

    EXCLUSIVE: Fannie and Freddie’s Foreclosure Barons

    How the federal housing agencies and bailed-out banks are helping shady lawyers make millions by pushing families out of their homes.
    By Andy Kroll | Wed Aug. 4, 2010 12:01 AM PDT

    LATE ONE NIGHT IN February 2009, Ariane Ice sat poring over records on the website of Florida’s Palm Beach County. She’d been at it for weeks, forsaking sleep to sift through thousands of legal documents. She and her husband, Tom, an attorney, ran a boutique foreclosure defense firm called Ice Legal [1]. (Slogan: “Your home is your castle. Defend it.”) Now they were up against one of Florida’s biggest foreclosure law firms [2]: Founded by multimillionaire attorney David J. Stern, it controlled one-fifth of the state’s booming market in foreclosure-related services. Ice had a strong hunch that Stern’s operation was up to something, and that night she found her smoking gun.

    It involved something called an “assignment of mortgage,” the document that certifies who owns the property and is thus entitled to foreclose on it. Especially these days, the assignment [3] is key evidence in a foreclosure case: With so many loans having been bought, sold, securitized [4], and traded, establishing who owns the mortgage is hardly a trivial matter. It frequently requires months of sleuthing in order to untangle the web of banks, brokers, and investors, among others. By law, a firm must execute (complete, sign, and notarize) an assignment before attempting to seize somebody’s home.

    Treasure Trove HERE:


    Note: Randomly wordpress won’t publish “Comments”
    with LIVE links, so I use the “x_” in front of the link to DEACTIVATE
    it and make sure this post is seen.
    sure the post goes up.

  2. “Corporation: An ingenious device for obtaining profit without individual responsibility.”
    ~Ambrose Bierce

  3. 2 Anonymous… the thing with Stern is a whole other issue as “investors” need to investigate their investments.. but this schmuck made some rather inflammatory and telling statements in their filing and subsequent “investor call’s”…
    all of which insinuate that the POTUS and his team are a bunch of bafoons… perhaps they Holder included should avail themselves of the Prospectus.

    While I am not in Florida… this should prove helpful for all those dealing with this so called law firm… who apparently has an “inside tract” to the unraveling and impoverishment of the American Homeowner… overall the suits should prove fruitful when he is asked to explain the “9th Inning Home Run” statement on how the fleecing of America will play out.

    What is most remarkable to me and should be to every individual involved and concerned is that an IPO can be filed with the SEC solely based on not merely fraud but fraud on the courts as well.

    In the end despicable as this mongrel is… in the end he will prove to be very useful!

  4. […] ACTION FILED AGAINST STERN, MERS 29 07 2010 Posted on July 28, 2010 by Neil […]

  5. PJ

    Love it. But – as always – all is about “investors.” Investors would have no claim – if there was not fraud against the victims. Where is the DOJ???? Eric Holder??? Where are you???? Have heard NOTHING from you as to mortgage fraud and foreclosure victims. Where are you??????? And who are you working for?????????

  6. Game Over.



  8. I hope to hear from HSBC and FIRST MAGNUS going down soon as well. HSBC the worst.

    EVEN during BK proceeding they continued sending pepole to my home, knocking on the door. Two years after the BK was discharged they are still sending people to knock on the door the use an outfit from Detroit to do that.

    I even have shown the discharge to the people coming to knock on my door and they tell me they have been hired to get me to either pay or move out.

    In a couple of days I will be filing a lawsuit against them and HSBC. I have videos, recordings, paper trail.

    I think the judge and the jury if we get that far are going to start seeing these crooks as they are, as thieves.

  9. Wow, if I’d written that, a poster would have said it was full of opinions, innuendos and unproven claims and not a statement of facts that are suitable for courts in fact based states.

    MERS files Notices in the courthouse of a foreclosure.
    How do they get away with that?
    My case, the judge said a notice was an opinion, and refused to allow a Notice of Fraud (recorded in the public forever and ever and ever and ever).

    Attorneys for MERS files Notices in the courthouse and it lasts two years and is destroyed. gone. kaput. never existed. can’t be referenced or found.

    The people who perpetrated this know, you can’t get into trouble for stating an opinion.

    How funny is that?
    Even the non-judicial foreclosure ends up being someone’s opinion the home is sold. Hmm.

    Then the court is used to establish the fact.
    (and I will never use Defendant because you MUST know what that means, you are denying someone else a right or remedy or right to are the bad guy and stopping someone from seeking a relief)

    If the homeowner is not careful, the court will create the contract, a fact based contract by ruling for the person who sent you to court
    (person has it’s own legal meaning, it ain’t Websters I’m talking…you should know legal terms) that person can have the relief they seek and thus you the Defendant, (who accepted that label for the case, are told to give back to the person you are denying relief, their property).

    Get past the dis-information. Don’t jump in the middle, start at the beginning.

    I did not challenge the documents entered into my case. Why?
    I needed those documents to show the fraud.
    I referred to those documents after I lost.

    I don’t know where I am in the process, or what is next, but I’m still here today and I keep checking the mail for something. Tomorrow will be 7 days since the case was over.

    But I challenged the label of Defendant.
    I challenged that we knew each other..We did not.
    I challenged that they were my Landlord or I was a Tenant
    I challenged that the court assumed we had a prior trust relationship and we didn’t I don’t know that person.
    I challenged that I was not denying a right or remedy.
    I stated the court had no jurisdiction because they were suing the wrong party, they need to sue the party that made them believe they had a right to possession of the property.
    I stated the plaintiff’s claim is based on a document they have in their possesion and the foundation of that document is an opinion filed, not recorded, in the public, and in two years that opinion will be destroyed.
    I stated the plaintiff had a document that got it’s existence from a document that was not based on fact.
    I can’t be dispossessed from my property over an opinion.
    I guess people can countersue and make them pay for the pain they case.

    We are so nice, we never counter-sue.

    But everytime the court tries to enter me into a contract, then everytime I will be providing a response within 3 days to cancel the contract.

    The other side cannot create the contract, they need the court to create it for them. That court case will be the fact, that their documents can attach to by being placed as evidence in the case as a fact without ever referencing the ‘opinion’ (notice of foreclosure that will disappear in two years).

    Some will hear, and understand, Some will hear, and understand for a while and forget, and some will hear and not understand.

    We are all at different levels of development and our experiences are based upon how much effort we put into really ‘living’ and not leaving the work to someone else to do.

    An attorney in these case may work for a while, but the ultimate goal is for each person to take responsiblity for the role we played in this. I lacked the knowledge to sign a Deed of Trust to protect my interest in property I purchased.
    I have no one to blame but myself.
    Every bad contract has a remedy, that’s how they can create bad contracts, by violating your rights but providing an out, they don’t get into too much trouble.

    They get into trouble when they violate your rights and you have no way out, that’s how slavery came to an end.

    Every man is endowed by their Creator with certain un-a-lien-able rights. (un-a-lien-able, can’t be liened, stolen, or taken away, you have to give it away, and giving it away can include not saying anything when someone takes it, (ie. acquiescence).

    No one will get involved if someone is trying to trick you into a contract and you are so ‘ignorant’ (not as bad as it sounds using the legal definition) that you didn’t know what happened or why.

    If you choose to keep your ignorance, no one will stop anyone from taking advantage of it. If you admit in a response to the court, you were ignorant of something and now you know, ‘forgive you’ and state what you now know…your new cannot be ignored.

    Anyone who hasn’t begun the steps to get their home back after all this new information that has surfaced, and they are ‘waiting’ on someone else to do a class action or a government intervention or some other ‘group’ solution to help them, then I’m sorry to say, this mess was targeted for you.

    Why do I say that?

    Businesses know that if they get you mailing address, about 20% of you will be repeat customers.

    Well foreclosure mills have factored in how many people are waiting on someone else to fight their battles, come up with their solutions, and help them with their problems, and they have factored you in.

    If you don’t go get what’s yours, and you are waiting on me or a congress, or a judge to do it for you, then you don’t deserve to get it back. If it’s yours, you go get it. Take responsibility on both sides. You helped create the problem through ignorance and you won’t resolve the problem through laziness.

    Don’t send your child to go get your bike from the neighbor who took it. Go get it back.

    These cases are still there. Admiralty jurisdiction is equity.
    Right now the other side seems to be the one harmed by the “Defendant” so the judges are justified in providing them with ‘the remedy they seek for the loss or injury they suffered’.

    What are you going to do to show that the perception is wrong and it is you, who seeks the remedy and has suffered the injury and now you know how it happened and you need them to reverse their decision.

    I know nothing and if I think I know something I know nothing. I do not give legal advice because I don’t know legal things. Everything written is an opinion, even my experiences with the legal system are only my opinion of what I experienced.

    Light and Love,

  10. This is great news. MERS is going down.

  11. It’s about f-ing time !!


  12. The one thing about people like Mr.Stern is that they love to glorify themselves… and in the end their words come back to haunt them… his blathering answer to a question posed by a would be “investor”… as outlined in the complaint…pretty much sums up the whole game here stacked against the American People.

  13. the link is sternclassaction at the near top of the page, then that takes you to another page, and then you can get the link.

  14. Great post ..Hopefully it will help my case.

  15. How can we get a copy of the Complaint?

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