Banks Attempting to Fight MERS Decision With Public Relations

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Editor’s Analysis: The banks are threatening to slow down lending because of the Oregon MERS decision. They want to be fear in the hearts of realtors and sellers alike who will no doubt be recruited to join in lobbying efforts to change the law in Oregon to allow MERS in the chain of title. People who live in Oregon should be VERY vigilant to see that such a provision doesn’t get tacked onto to some innocuous bill that has nothing to do with MERS, foreclosures, mortgages or even real property.

Here is the problem for the banks: The reality is that that under real property law in every state you must record transfers of interest in real property if you want to be able to protect yourself against subsequent buyers or lenders who nothing about prior off-record dealings. Recording is what stabilizes the market. Where the recording rules are followed then there is notice to the world of who has what stake in any particular piece of property. A buyer or lender can buy or lend without worrying if they are really getting title or a perfected lien.

MERS is an intentional parallel universe in which transfer are NOT recorded and someone can pop up later claiming to be the new owner, beneficiary, trustee or whatever. It creates uncertainty in the marketplace which is bad for business generally and no doubt is going to spawn thousands of lawsuits on title insurance and title claims because MERS by its own admission never handles a dime, never gets the origination documents, and never does anything except maintain a relatively unsecured technology platform in which the members make, change, alter or amend data relating back to the so-called origination of the loan.

They attempt to cure this fatal defect with signed affidavits and other documents fabricated only when there is litigation executed by unauthorized people, robosignors, surrogate signors without corporate resolutions that the bank would require from borrowers but don’t want applied to themselves. The robo-signed, fabricated or fraudulent documents become part of the record but on close reading say nothing, which means that under case law in all the states the filings would be considered “wild” which means that it is out of the chain of title.

But the problem lies even deeper than that. MERS is the nominal trustee on the deed of trust or the nominal mortgagee on a mortgage. It disclaims any interest in the obligation, note or mortgage, saying that it is there to “facilitate” the transfer, sale or securitization of loans and other forms of credit — a function easily performed for a statutorily required fee by the statutorily authorized recording office in each county in which each property is located.

If you drill down a little deeper, you will find that MERS, as nominee is named as nominee for an apparently disclosed principal identified as the “lender.” But the “lender” loans nothing in most of these transactions, as the wire transfer receipt and wire transfer instructions will show.

So what you REALLY have is a nominee for  a nominee for an undisclosed principal, whom we all know should be the investors or their REMIC, but isn’t because the investment banks took the ownership diverting the paperwork and the money away from the investors, leaving them, and the borrowers, holding an empty bad or perhaps better said “a holographic image of an empty paper bag.”

These are table funded loans (predatory per se as per TILA and Reg Z) on steroids. While the banks are temporarily claiming ownership, they are trading selling and hedging and insuring the loans in packages making a fortune while the investors are left with fatally defective, unenforceable claims against he borrowers (see the various complaints filed by investors against the investment banks).

The flow of money from insurance — promised to investors and hedge products promised to investors never materializes because the banks kept the loans as though they owned them and then sold them at a premium to pools that were never funded with the investors’ money. Their money went to the banks as well which the banks used as their own money to make all those trades.

So the Oregon Supreme Court is scheduled to hear a case called Niday vs. GMAC Mortgage because the lower appellate court said that in order to collect or foreclose on a debt, the debt must be owed to you and not someone else. This is also the law in all states —  only an actual creditor who is owed money from the borrower can submit a “credit bid”in lieu of cash assuming the debt is owed in connection with the financing of the property.

So the Banks and servicers are getting the story out through the media wherever they can that these rulings are misguided and will have terrible consequences on the marketplace when in fact the reverse is true. What the banks and servicers are doing is introducing a level of uncertainty that has never been seen before in the American marketplace. Their response to attempts to curb their illicit practices has been to threaten the marketplace with a freeze on lending. In other words, they are trying to bully us into letting them get away with it. Will you let them?

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38 Responses

  1. […] Banks Attempting to Fight MERS Decision With Public Relations […]

  2. ELLEN BROWN: THE COMPLETE TRUTH ABOUT FRAUDCLOSURE 10-19-10

  3. Good evening Home Owners. I hope that this message finds you in, good health and the best of Spirit. We, are also ‘Insiders’ and may, be able to assit you.

    Having difficulties nailing down that, pesky PSA (with YOUR mtg); please shoot us a message. Honsestly, you really don’t need a Securitization Audit (3 strategies can save you the $) but if you insist… We’ve got you covered.

    In the State of Michigan; WE STILL have one of the only Vacation of Forecloser Rulings that’s, still STANDING…

    Do you have the “We sent 1,000,000,000 QWR-blues??? We ARE ACTUALLY ASSISTING with collection of ‘damages’ (sec 6, 8, 10 +) and it isn’t difficult… E tu…

    Good people, we are somewhat progressive, in our approach to fighting foreclosures. The way I see it; if we were able to help get you into, this MESS, we should and have been able to, help get folks, out of THIS MESS.

    So here’s the big question.

    Are there ANY Attorneys, ‘Service Providers’, Auditors or ‘Modification Specialist’ assisting you with PAYING THE EXPENSES ASSOCIATED WITH YOUR FIGHT??? (question would be rhetorical if… WE WEREN’T DOING IT:)

    … shoot us an email. I cannot guarantee that we will be able to work with you or that you will have the same success as other Clients but, we will surely take the same, if not greater efforts, on your behalf.

    God bless and keep up the fight (it’s not as hard, as you think:)

    Danny
    lowecommunityresourcepartners@live.com

    1

  4. @masterservicer

    Trying to school you? Wow…tad insecure.

    Having looked up some of what you said: maybe. The only person who know this kind of stuff is an insider; you are one of them.

    Here trying to help, Hmm, one has to wonder? And are you a citizen here?

    What have I learned…interesting question: that this not about greed, it is about “control”…they have enough money. No one in the United States owns anything, “technically”. If it has a lien or is lienable, it can be taken. Not just from defaults, but loss of job, sickness, eminent domain any variety of things. One must utilize their money differently and not get into bed with any “lender”, you become a victim at their discretion.

    As far as anything else: the elements of fraud have been proven…when the rule of law is not followed, our problem is much larger than the houses we reside in!

  5. My paperwork states a zero balance…that’s what is in evidence in the court…

    What does matter is I don’t owe a debt…if they own it and cheated, sucks to be them. I didn’t. They defaulted on their loans, I didn’t.

    I have not been foreclosed on yet, so I don’t get a 1099…

    The courts don’t care what happened in Iceland, nor does anyone fighting, it’s irrelevant.

    The attorney I am in court with has moved the note into his personal company and asked the servicer be removed from the case…now pay attention, masterservicer, that means he bought the debt.

    Your analogies and information are fine…but they have no relevance to my case.

    I do appreciate your intellect, but I cannot find anything you mention that’s even relates to what my case is about. But thanks for the info…I really don’t see how this information will work in court?

    And I disagree that the constitution, in the Federal Court jurisdiction doesn’t matter…as a matter of fact any court…just me.

    If I am wrong, then so be it. Then I will know the Supreme Court and the Constitution in this country are dead…then where will any of us be, if that’s the case?

    Why would Neil tell people to deny and discover? If you admit the note is payable and due and you have defaulted…you need to gather your things and go home. Home run for the bankster…

    I don’t know why I do this…what is happening on the front lines is where we need help. Hey, you’re right masterservicer…the Constitution has no place here, particularly if you’re a bank…you do not have to follow any laws, period! You win, this site is exhausting…

  6. @ masterservicer

  7. Hi , lets try again – sorry

    Poppy —-Hmmmmm
    No constitutional questions are allowed in these defenses …sorry sister .

    Ya say – cannot speak for anyone else here: but the party seeking to foreclose has no debt due…PERIOD!

    Comments – OH YES THERE IS A DEBT DUE – AND ITS THE DEBT OWED BY A MAJOR BrANK – NOT YOU – and here you are missing the biggest argument one could ever take into this court and controversy…. Hate Hate Hate —buy into this irrational exuberance called LiveLie . . .Go ahead…lose sight of the real issues !

    Ya say – They do not work for any lender, nor do they have any actual loss, they are debt collectors.

    Comments – OH YES THEY do work for a lender- The United States Department of Treasury and they are authorized to collect as debt collectors with the authority of a IRS Financial Agent (your going to school me ?)

    Ya Say – Now, that would be fine if there was an actual debt existing, but after discovery, hundreds of documents, there appears to be no debt?

    Comments – No debt – Ask China, Iceland, Korea, US Tax payers – Are you or your attorney insane – No Debt !

    Ya Say – Now, why would a judge, any judge give a debt collector a free house?

    Comments – For the reason your being pursued by a Treasury agent for a 1099 – Its your house , your 1099…but since you abandoned the home —-Ah haaa . You paid for it. Now eat the loss .

    Because the vast majority of us are losing out the gate, when we admit we did not make payments. This is where the entire case unravels.

    Comments – My clients state they stopped making payments in order to satisfy the rule of a surety and to preserve their right of subrogation ….

    My Lord, you state you have lived through this for over three years and am learning every day. What is it you have learned Luv….Tell me What is it you have learned?

    Get informed …get the facts . Ask the moderator here for good or better answers …okay

    Try Garfields workbooks or see http://www.foreclosurechemestry. blogger.com

  8. Poppy —-Hmmmmm
    No constitutional questions are allowed in these defenses …sorry sister .

    Ya say – cannot speak for anyone else here: but the party seeking to foreclose has no debt due…PERIOD!

    Comments – OH YES THERE IS A DEBT DUE – AND ITS THE DEBT OWED BY A MAJOR BANK – NOT YOU – and here you are missing the biggest argument one could ever take into this court and controversy…. Hate Hate Hate —buy into this irrational exuberance called LiveLie . . .Go ahead…lose sight of the real issues !

    Ya say – They do not work for any lender, nor do they have any actual loss, they are debt collectors.

    Comments – OH YES THEY do work for a lender- The United States Depoartment of Treasury and they are authorized to collactect as debt collectors wiuht the authoroty of a IRS Financial Agent (your going to school me ?)

    Ya Say – Now, that would be fine if there was an actual debt existing, but after discovery, hundreds of documents, there appears to be no debt?

    Comments – No debt – Ask China, Iceland, Korea, US Tax payers – Are you or your attorny insane – No Debt !

    Ya Say – Now, why would a judge, any judge give a debt collector a free house?

    Comments – For the reason your being pursued by a Treasury agent for a 1099 – Its your house , your 1099…but since you abandonded the home —-Ah haaa . You paid for it. Now eat the loss .

    Because the vast majority of us are losing out the gate, when we admit we did not make payments. This is where the entire case unravels.

    Comments – My clients state they stopped making payments in order to statisfy the rule of a surety and to preserve their right of subsrogation ….

    My Lord, you state you have lived through this for over three years and am learning every day. What is it you have learned Luv….Tell me What is it you have learned?

    Get informed …get the facts . Ask the moderator here for good or better answers …okay

    Try Garfields workbooks or see http://www.foreclosurechemestry. blogger.com

  9. @ masterservicer

    Cheating the states and municipalities is a separate issue, has nothing to do with my case. Right now, I have altered my complaint to include the Fifth Amendment…the right to not incriminate oneself.
    After exhaustive reading, I am convinced I am being forced to testify against myself in these proceedings. Just me….

    And further, the attorney for Ocwen-(New century product) had my case removed to Federal Court, the paperwork is literally “unbelievable”…so far the judge has be unwilling to take his requests for a 12(b)(6) failure to state a claim…and a summary judgment to its conclusion. The attorney is at bay for the time being.

    I cannot speak for anyone else here: but the party seeking to foreclose has no debt due…PERIOD! They do not work for any lender, nor do they have any actual loss, they are debt collectors. Now, that would be fine if there was an actual debt existing, but after discovery, hundreds of documents, there appears to be no debt?

    Now, why would a judge, any judge give a debt collector a free house? Because the vast majority of us are losing out the gate, when we admit we did not make payments. This is where the entire case unravels. The complaint MUST be amended…I have stopped using certain words, so they have a difficult time trapping me, into saying something incriminating. These lawyers are working off of our sense of decency and morals, then further take our complaints and use the language we use, against us. The devil is in the details/paperwork…but success in very much in your argument.

    Only my take, no lawyer here…but have lived through this for over three years and am learning every day.

  10. We (my team of counsel) also had a Deutsche case dismissed for lack of standing on Monday. Details after the order is entered.

  11. yes, the judges and bank lawyers ARE trying to tire us out. just the game they play. As for judges, very reluctant to rule with the law in favor of borrowers.
    @ guest: we are in adversary action within BK (where I always thought I wanted to be). We still have a state court case alive preserving all claims. Foreclosure judgment was withdrawn. Filed fraud suit after modification. I’m a smartass.

  12. Judges’ routine game is tiring out victims & running them out of funds so they give up. They work for crime banks. If you moved a regular state court case … It’s a circular cycle of a perfected form of organized crime to have the look alike effect of judicial process.

    I understand this persons (“Livinglies Shill”) frustration and need to get readers excited…..$$$$ But Anyone who refers to the Treasury Dept as criminal is insane . The mess is a kickback to the great compression of 1933 and how land barons bought of the courts -see Brandais decisions for interesting case law.

    Roger – get back to me for testimony that forms the arguments for your response to complaint . My suggest is to motion back the court for institutional constructive trust ….. for moving the case before it hears the general arguments and you get slammed back with a 12(b) 6 motion to dismiss for failure to state a claim.

    not an attorney and informational purpose only. intended for counsel or referral to a competent attorney

  13. @usedcarguy: first, this is the first half of the law reference book I linked below: http://materials.abi.org/sites/default/files/2012/Nov/SupremeCourtCaseLawUpdate_Part1.pdf
    About your cases: please be more specific: for instance you had what kind of case moved to federal court, etc. Judges’ routine game is tiring out victims & running them out of funds so they give up. They work for crime banks.
    If you moved a regular state court case or an unlawful detainer case to the federal court it is highly unlikely for the federal court not to kick it back to the state court. It’s a circular cycle of a perfected form of organized crime to have the look alike effect of judicial process.

  14. Federal question jurisdiction exists when a claim arises pursuant to a federal law as with Plaintiff who alleges a claim pursuant to the Truth in Lending Act, the Real Estate Settlement Procedures Act, the Fair Credit Reporting Act, the Fair Debt Collection Practices Act,etc.,

    Herein the matter aserts the case presents a “federal question” and can be moved into federal court. Also , certain state claims may present a “substantial federal question” hence allow the matter to be moved on the basis of jurisdiction.

    Consider a fraud claim brought in local jurisdcition that contends that a defendant violated the state statute by acting “unlawfully,” . . . the “unlawful” conduct is alleged to be a violation of a federal statute, may present a federal question even though the claim is actually brought pursuant to state law.

    Its critical that certain state court claims are pre-empted by federal law, and thus present federal questions. Ref. 28 U.S.C. § 1331 The district courts shall have original jurisdiction of all civil actions arising under the Constitution, laws, or treaties of the United States.

  15. Free Free at Last

    BUT WAIT! WAIT! The debt (in personam) vs the security (the RES) went two different directions. Can’t come back for it now! MS, I think I’ve got it. I’m not a MERS guy, but even without MERS, the gap is evident.

  16. 90 percent of all cases moved to Fed Court are ruled in favor of the party moving the case – sorry Bubba

  17. White House Petitions
    Petition the Obama Administration to:
    Halt Foreclosures Nationwide & Prosecute the Financial Criminals

    https://petitions.whitehouse.gov/petition/halt-foreclosures-nationwide-prosecute-financial-criminals/FdVJLnKK?utm_source=wh.gov&utm_medium=shorturl&utm_campaign=shorturl

    As of 11/21: 48 signatures 24,952 more needed
    Created 11/14 25,000 signatures needed

  18. and GUEST, please keep it coming. had our case shifted to a FED Circ Judge on procedural appeal.
    Can that judge take the case away from the Bk Court since there is a RICO complaint involved? Did our BK judge essentially bail by trying to bifurcate proceedings against the two banks and two law firms to force an appeal?
    Would appreciate your comments, counselor.

  19. MS, excellent point! Read the contract in reverse: your REPO is Treasury hunting down the asset from the securitization. Is that not the case with every subprime item in TARP? This would also apply to RESCAP/GMAC. The point here is that the obligation can’t go backwards once it’s sold forward. The assets (loans) were never sold. Only “pledged”. Hence, the late assignments. Loans for lines, stock for certs, certs for cash. Bonds were not 30 year bonds. Were never meant to be. The money swap is evidenced by MERS, is it not?
    BUT WAIT! WAIT! The debt (in personam) vs the security (the RES) went two different directions. Can’t come back for it now! MS, I think I’ve got it. I’m not a MERS guy, but even without MERS, the gap is evident.

  20. @Christine & Vicki Harding:
    I can’t find your contentions in the decision you cited which I quote from:

    http://materials.abi.org/sites/default/files/2012/Nov/SupremeCourtCaseLawUpdate_Part2.pdf

    Rhiel v. Central Mortgage Company, 444 BR 871 (Bankr. S.D. Ohio 2011) –
    Court lacked jurisdiction over third party complaint filed by property owner against notary public for failing to properly notarize and record deed. Although defective deed allowed Trustee to recover property in action against owner, owner’s negligence action against notary was
    not core matter and did not involve debtor or property of the estate. District Court can exercise “supplemental jurisdiction” pursuant to 28 USC Section 1367 over claims that are so related to claims in the action within such original jurisdiction that they form part of the same case or controversy under Article III of the United States Constitution.
    Courts may decline to exercise supplemental jurisdiction over a claim under subsection (a) if (1) the claim raises a novel or complex issue of State law, (2) the claim substantially predominates over the claim or claims over which the district court has original jurisdiction, (3) the district court has dismissed all claims over which it has original
    jurisdiction, or (4) in exceptional circumstances, there are other compelling reasons for declining jurisdiction. Bankruptcy Courts may lack authority to exercise supplemental jurisdiction as Section 1367 refers to “district court”. Assuming Bankruptcy Court could do so, Court declined to exercise supplemental jurisdiction where claims raised novel
    issues of state law regarding liability of notary public or closing agent to purchaser on “ third party beneficiary” theory. Exercising supplemental jurisdiction would not materially aid the disposition of the case as the case would be within court’s “related to” jurisdiction, requiring court to issue report and recommendations to District Court which would delay resolution; and it is possible that defendant would have right to jury trial at state law which Bankruptcy Court lacks authority to conduct.

  21. Appoint an S.E.C. chair who will hold Wall Street acountable….

    Why – The Treasury Department is Wall Street …..Wake up !

  22. Even though they cheated “billions” of dollars from the local taxpayers by not paying recording fees.

    Negative – First – The contract is your word,You made a promise to pay back an amount you borrowed. (Keep Reading ) The mortgage is a lenders security for the debtor’s promises to pay back that he has borrowed. Let the debt you borrowed stand tall and seperate from this chaos for a moment.

    Banks are not fessing up. And there is a reason ….

    This scandal has yet to blow open and the whistle blower route is something that is harder than ever to avoid over here. None the less, for me, just cannot get the word out. Philidelphia Newspaper bankruptcy, Enron Nigerian Barges, Craig Electronics indictment, Tyco and World Com …..this has been brewing folks …for a long time. .

    So here is a little something for you to ponder or for your attorneys to use as you see fit.

    Where the language used in binding contracts reads in reverse understanding of the parties’ agreement. . . Where the deal makers raised capital using “ma & pop” private placements. Where they raised capital beyond the economic capacity of this nation. And where the architects are by their own admission are conducting a reverse purchase and sale or “REPO”, in part for establishing basis in assets . . .

    Why are you burdened and hung up with Mers Corp as a nominee….

  23. Tell President Obama: Appoint an S.E.C. chair who will hold Wall Street acountable.

    The expected resignation of S.E.C. Chair Mary Schapiro will soon present President Obama with a very telling choice and a very potent opportunity.

    The S.E.C. is one of the top regulators of Wall Street, so the president can and should replace Schapiro with a champion for Wall Street accountability.

    But we shouldn’t at all be confident the president won’t instead appoint someone more interested in placating Wall Street firms than taking them to task.

    M.I.T. economist and New York Times economic blogger Simon Johnson recommends three people: former TARP Special Inspector General Neil Barofsky; former Senator Ted Kaufman; and the leader of the pro-reform group Better Markets, Dennis Kelleher.1 To Johnson’s list we’d add the former head of the F.D.I.C., Sheila Bair.

    Tell President Obama: Appoint a real champion for Wall Street accountability to the S.E.C.

    As Johnson pointed out in a recent blog post, the historical moment we’re in requires not just someone who will diligently enforce the law, but also someone who will combat the pernicious Wall Street spin that has become part of the conventional wisdom.

    Johnson says:

    Goldman Sachs, JPMorgan Chase and Citigroup were all big donors to the Obama campaign in 2008 … but they did not make the top 10 list this year. Now would be a perfect time for the president to clean up Wall Street with a strong S.E.C. that is focused on enforcing the law and overturning dangerous parts of the conventional wisdom.2

    Wall Street has countless well paid spinmeisters and well funded public relations efforts that have sought to absolve Wall Street crooks of any responsibility for the financial collapse. According to their Orwellian version of history, the people who gambled in the Wall Street casino with taxpayer money didn’t do anything wrong. And according to their vision, the best thing the government can do to get the economy on track is just get out of Wall Street’s way.

    That would be a dangerous perspective for one of Wall Street’s top cops.

    Tell President Obama: Appoint a real champion for Wall Street accountability to the S.E.C.

    Neil Barofsky has actually put bankers in jail as both an Assistant U.S. Attorney for the Southern District in New York and as Special Investigator General for the TARP program. A career prosecutor, he is one of the only people this decade who have prosecuted complex financial fraud.

    Former Senator Ted Kaufman of Delaware is, according to Simon Johnson, “a consistent advocate for financial-sector reform and was one of the clearest voices during the 2010 legislative process that led to Dodd-Frank.”

    Dennis Kelleher is, per Johnson, “a former senior Senate leadership aide with a great deal of political experience, including during the financial crisis and in the negotiations that led to Dodd-Frank, and now runs the pro-reform group Better Markets…No one has been a more effective advocate of implementing substantive reforms.”

    Sheila Bair is widely acknowledged in government circles and the media as one of the first people to identify and accurately assess the subprime crisis. Elizabeth Warren said that Blair “is a strong voice for Wall Street accountability and financial reform…[whose] leadership during the financial crisis made a real difference for working families…”3

    You can bet that Wall Street is already lining up support for their preferred candidates. So we can’t afford to be silent.

    Please speak out and help push Obama to appoint a chair of the S.E.C. who will be a real force for Wall Street accountability.

  24. Bankruptcy “Strong Arm” Powers: Bye Bye Mortgage
    August 14, 2012, 8:00 am
    Filed under: Financing, Real Estate | Tags: avoidance action, financing, strong arm powers

    Rhiel v. Central Mortgage Co. (In re Kebe), 469 B.R. 778 (Bankr. S.D. Ohio 2012) –

    Kebe provides a classic example of the exercise of bankruptcy “strong arm” powers. Based on a defective notarization, the lien of a mortgage was avoided, and the bankruptcy court left open the possibility that the value of the lien could be recovered from the mortgagee in the future. Not a happy prospect.

    Section 544 of the Bankruptcy Code gives the debtor or trustee the ability to assert the rights and powers of, and to avoid transfers that are voidable by, a bona fide purchaser of real estate as of commencement of the bankruptcy. To the extent that a bona fide purchaser would have been able to void or take clear of an interest, the debtor or trustee will be able to do the same. State real estate law commonly provides that a bona fide purchaser of real estate can take free of unrecorded interests. In that case, if a mortgage is not recorded, the lien of the mortgage can be avoided in bankruptcy.

    Kebe is one of a long string of cases that finds that defective or improper notarization of a mortgage results in the mortgage being treated as unrecorded under Ohio law. In this case the mortgage was properly executed by the mortgagors, but the notary failed to insert the name of the mortgagors so that the acknowledgement block read “This instrument was acknowledged before me this 20th of September, 2004 by ________.”

    Interpreting Ohio law, the bankruptcy court held that the mortgage was not properly recorded, and consequently did not provide constructive notice to a bona fide purchaser of the property. It was not persuaded by arguments that there would have been actual notice because any reasonable purchaser would have searched the land records and found the mortgage even though it didn’t have a legal status as properly recorded.

    Thus the court granted the Chapter 7 trustee’s request to avoid the lien of the mortgage. In case you wonder what happened to the lien, it was preserved for the benefit of the estate. Whatever the mortgagee could have recovered as a result of the mortgage lien would be for the benefit of the bankruptcy estate instead. However, that was not the only relief requested by Chapter 7 trustee.

    Under Section 550 of the Bankruptcy Code, when a transfer is avoided the value of the property transferred may be recovered from the transferee if the court orders. In connection with avoided mortgages, trustees and debtors have been using this section to attempt to recover the amount of the mortgage lien from the mortgagee. In a world of seriously underwater mortgages, this presents an opportunity for the trustee or debtor to recover more than they would be able to get from selling the property, and leaves the mortgagee coping with the fact that it may be required to pay the estate more than it will be able to recover itself.

    In this case, the court concluded that recovery was not yet appropriate. The trustee was seeking to sell the property, so that avoiding the mortgage was potentially a sufficient remedy. However, the court left the door open for the trustee to renew its request for recovery of the value of the lien if the trustee was unable to sell the property.

    This case illustrates that formalities can really matter. There is certainly room to litigate various issues, including how to value the grant of the mortgage lien, but no lender will want to find itself in this position in the first place.

    Vicki R. Harding, Esq.

  25. From Msfraud

    “Holden’s Motion for SJ against Deutsche

    The significance of this case is Deutsche Bank [always knew] it does not own this home, never owned this home, and now their corporate representative is admitting it.
    But Deutsche pressed on and easily spent more in legal fees than this property is worth. This is another case to prove it is not about the home – it is about the astronomical intangible and fabricated value the home represents to Wall Street’s criminal enterprise.
    Hopefully the case will start focusing on the severe damages the Holden’s have suffered as a result of Deutsche Bank’s unconscionable criminal conduct and attempted theft of property.”

    And here is the actual Holden’s motion for summary judgment

    http://msfraud.org/law/lounge/holden_motion-for-sj_11-12.pdf

  26. The reality is that that under real property law in every state you must record transfers of interest in real property if you want to be able to protect yourself against subsequent buyers or lenders who nothing about prior off-record dealings.

    Negative – The Mers Corp issue is the “Feds” intervening assignments during the term of a bailment agreement. You give Mers Corp standing ….Mers satisfy’s the interbank requirements for intervening assignments. If you attack Mers you lose ….

    Hint: There is only one lender held to the HUD I and he is the beneficiary. The next in succession is the lenders successors and assignee.

    The Trustee is not an assgnee and only later substituted …its not a successor [according to mortgages deed you executed….]

    A transferee is not an assignee.What’s the point …..?

    www foreclosurealternative. word press.com

  27. MERS is nothing but a good old boys club, members only. Just like the credit bureaus. If you pay you get access and you can say or do anything without question. Even though they cheated “billions” of dollars from the local taxpayers by not paying recording fees.

    Hell of a country we’ve become…Fraud, forgery, stealing and cheating is un-punishable for bankers and no one seems to be concerned up there in DC.

    I mean where do we go from here?

  28. Ugh….looks like Enraged is back

  29. MERS must be taken down. Can someone answer this question? On my DOT I signed I agreed to MERS as my “lenders” nominee. Let’s assume that somehow the defunct lender could still operate in some type of limited capacity and had the authority still to assign the DOT from themselves to the servicers. (Skipping all the parties in between).

    Assume MERS nominee status is legit and they don’t have to record every assignment along the way. I reread my mortgage note an MERS isn’t nominated anywhere? Assuming that the Deed follows the note and the 2 are inseparable, wouldn’t they be split at the point when MERS records the DOT? I know some will say it should be recorded every time the note changes hands but according to MERS business model it doesn’t. That is not my point.

    My point is MERS was not given authority to assign our notes. I have 5 MERS loans and I pulled the paperwork from all of them. I used different lenders and none of my notes give MERS authority to assign the Note.

    I am not sure if this is significant or not. I just keep thinking of ways to bring down this monster. I’ve reread my paperwork over and over and my wife is starting to think I’m crazy but damn it I have a family to protect. Like to hear your thoughts if anyone thinks this is relevant at all.

    Thanks! Good Luck! & don’t give up!

  30. We are watching our legislature. As a result of the election, we now have a democratic majority for the first time in many years. That is no great comfort when the banks pad their “campaigns” with money to defraud the voter. Constant vigilance is always required. We have that old luxury of voting on paper ballots where no machine is involved. Even then, we recently had someone attempt to disenfranchise the voters of her county, and was caught by our open voting process.
    For those of you in other states, we hope that you can eliminate the machine. Anonymous recently released a report on how they foiled the Rove machine from hacking the vote on such machines. However, if the voting machines can be hacked, many will try. Stop them from getting that chance or your vote will be meaningless.

  31. I have a foreclosure which took place in 2006. The Deed of Foreclosure states that , “MERS purchased the property for cash on the courthouse steps.” Now, we all know this was not true. Is it fraud? Does it render the foreclosure illegal? I am sure that MERS stopped that practice on going on the Deed of Foreclosure in 2007 because I have not heard of such a practice since.

  32. It is my understanding that the Michigan Court of Appeals has ruled in favor of the Plaintiffs and Class Members in the $400,000,000 class action against MERS. I need clarification of this. I assume that there were so many of us who were part of this case that Daily Law Firm has not had the opportunity to contact all of the Class Members. Where would I find information on this case?
    Also, if this is in fact, what has happened, and quiet title is issued on our behalf by the courts, do we get our property back along with damages? Whatever you can find out about this case, please post on your website/blog.
    Sincerely,

    Barbara Jones (Burrell)

  33. Michael Moore: An Open Letter to President Obama
    2012 November 19
    Posted by Steve Beckow
    Michael doesn’t seem to know what’s in store for us, and you’ll have to factor that in, but I get what he calls a “contact high” out of just hearing him. Thanks to Janis.
    From: Michael Moore [mailto:maillist@michaelmoore.com]
    Sent:Monday, November 19, 2012 9:54 AM
    An Open Letter to President Obama …from Michael Moore

    Monday, November 19th, 2012

    Dear President Obama:

    Good luck on your journeys overseas this week, and congratulations on decisively winning your second term as our president! The first time you won four years ago, most of us couldn’t contain our joy and found ourselves literally in tears over your victory.

    This time, it was more like breathing a huge sigh of relief. But, like the smooth guy you are, you scored the highest percentage of the vote of any Democrat since Lyndon Johnson, and you racked up the most votes for a Democratic president in the history of the United States (the only one to receive more votes than you was … you, in ’08!). You are the first Democrat to get more than 50% of the vote twice in a row since Franklin D. Roosevelt.

    This was truly another historic election and I would like to take a few minutes of your time to respectfully ask that your second term not resemble your first term.

    It’s not that you didn’t get anything done. You got A LOT done. But there are some very huge issues that have been left unresolved and, dammit, we need you to get some fight in you. Wall Street and the uber-rich have been conducting a bloody class war for over 30 years and it’s about time they were stopped.

    I know it is not in your nature to be aggressive or confrontational. But, please, Barack – DO NOT listen to the pundits who are telling you to make the “grand compromise” or move to the “center” (FYI – you’re already there). Your fellow citizens have spoken and we have rejected the crazed ideology of this Republican Party and we insist that you forcefully proceed in bringing about profound change that will improve the lives of the 99%. We’re done hoping. We want real change. And, if we can’t get it in the second term of a great and good man like you, then really – what’s the use? Why are we even bothering? Yes, we’re that discouraged and disenchanted.

    At your first post-election press conference last Wednesday you were on fire. The way you went all “Taxi Driver” on McCain and company (“You talkin’ to me?”) was so brilliant and breathtaking I had to play it back a dozen times just to maintain the contact high. Jesus, that look – for a second I thought laser beams would be shooting out of your eyes! MORE OF THAT!! PLEASE!!

    In the weeks after your first election you celebrated by hiring the Goldman Sachs boys and Wall Street darlings to run our economy. Talk about a buzzkill that I never fully recovered from. Please – not this time. This time take a stand for all the rest of us – and if you do, tens of millions of us will not only have your back, we will swoop down on Congress in a force so large they won’t know what hit them (that’s right, McConnell – you’re on the retirement list we’ve put together for 2014).

    BUT – first you have to do the job we elected you to do. You have to take your massive 126-electoral vote margin and just go for it.

    Here are my suggestions:

    1. DRIVE THE RICH RIGHT OFF THEIR FISCAL CLIFF. The “fiscal cliff” is a ruse, an invention by the Right and the rich, to try and keep their huge tax breaks. On December 31, let ALL the tax cuts expire. Then, on January 1, put forth a bill that restores the tax cuts for 98% of the public. I dare the Republicans to vote against that! They can’t and they won’t. As for the spending cuts, the 2011 agreement states that, for every domestic program dollar the Republicans want to cut, a Pentagon dollar must also be cut. See, you are a genius! No way will the Right vote against the masters of war. And if by some chance they do, you can immediately put forth legislation to restore all the programs we, the majority, approve of. And for God’s sake, man – declare Social Security and Medicare/Medicaid untouchable. They’re not bankrupt or anywhere near it. If the rich paid the same percentage of Social Security tax on their entire income – the same exact rate everyone else pays – then there will suddenly be enough money in Social Security to last til at least the year 2080!

    2. END ALL THE WARS NOW. Do not continue the war in Afghanistan (a thoroughly losing proposition if ever there was one) for two full more years! Why should one single more person have to die FOR NO REASON? Stop it. You know it’s wrong. Bin Laden’s dead, al Qaeda is decimated and the Afghans have to work out their own problems. Also, end the drone strikes and other covert military activities you are conducting in Pakistan, Yemen, Somalia, Colombia and God knows where else. You think history is going to remember the United States as a great democracy? No, they’re going to think of us as a nation that became addicted to war. They’ll call us warlords. They’ll say that in the 21st century America was so in need of oil that we’d kill anyone to get it. You know that’s where this is going. This has to stop. Now.

    3. END THE DRUG WAR. It is not only an abysmal failure, it has returned us to the days of slavery. We have locked up millions of African-Americans and Latinos and now fund a private prison-industrial complex that makes billions for a few lucky rich people. There are other ways to deal with the drugs that do cause harm – ways built around a sense of decency and compassion. We look like a bunch of sadistic racists. Stop it.

    4. DECLARE A MORATORIUM ON HOME FORECLOSURES AND EVICTIONS. Millions of people are facing homelessness because of a crooked system enacted by the major banks and Wall Street firms. Put a pause on this and take 12 months to work out a different way (like, restructuring families’ mortgages to reflect the true worth of their homes).

    5. GET MONEY OUT OF POLITICS. You already know this one. The public is sick of it. Now’s the time to act.

    6. EXPAND OBAMACARE. Your health care law doesn’t cover everyone. It is a cash cow for the insurance industry. Push for a single-payer system – Medicare for All – and include dentistry and mental health. This is the single biggest thing you could do to reduce the country’s deficit.

    7. RESTORE GLASS-STEAGALL. You must put back all the rigid controls on Wall Street that Reagan, Clinton and the Bushes removed – or else we face the possibility of another, much worse, crash. If they break the law, prosecute them the way you currently go after whistleblowers and medical marijuana dispensaries.

    8. REDUCE STUDENT LOAN DEBT. No 22-year-old should have to enter the real world already in a virtual debtors’ prison. This is cruel and no other democracy does this like we do. You were right to eliminate the banks as the profit-gouging lenders, but now you have to bring us back to the days when you and I were of college age and a good education cost us little or next to nothing. A few less wars would go a long to way to being able to afford this.

    9. FREE BRADLEY MANNING. End the persecution and prosecution of an American hero. Bush and Cheney lied to a nation to convince us to go to war. Manning allegedly hacked the war criminals’ files and then shared them with the American public (and the world) so that we could learn the truth about Iraq and Afghanistan. Our history is full of such people who “break the law” for the greater good of humanity. Army Specialist Bradley Manning deserves a medal, not prison.

    10. ASK US TO DO SOMETHING. One thing is clear: none of the above is going to happen if you don’t immediately mobilize the 63,500,000 who voted for you (and the other 40 million who are for you but didn’t vote). You can’t go this alone. You need an army of everyday Americans who will fight alongside you to make this a more just and peaceful nation. In your 2008 campaign, you were a pioneer in using social media to win the election. Over 15 million of us gave you our cell numbers or email addresses so you could send us texts and emails telling us what needed to be done to win the election. Then, as soon as you won, it was as if you hit the delete button. We never heard from you again. (Until this past year when you kept texting us to send you $25. Inspiring.) Whoever your internet and social media people were should have been given their own office in the West Wing – and we should have heard from you. Constantly. Need a bill passed? Text us and we will mobilize! The Republicans are filibustering? We can stop them! They won’t approve your choice for Secretary of State? We’ll see about that! You say you were a community organizer. Please – start acting like one.

    The next four years can be one of those presidential terms that changed the course of America. I’m sure you will want to be judged on how you stood up for us, restored the middle class, ended the s***ting on the poor and made us a friend to the rest of the world instead of a threat. You can do this. We can do it with you. All that stands in the way is your understandable desire to sing “Kumbaya” with the Republicans. Don’t waste your breath. Their professed love of America is negated by their profound hatred of you. Don’t waste a minute on them. Fix the sad mess we’re in. Go back and read this month’s election results. We’re with you.

    Yours,
    Michael Moore

    P.S. President Obama – my cell number to text me at is 810-522-8398 and my email is MMFlint@MichaelMoore.com. I await my first assignment!

  34. since when did banks have legal capacity to circumvent the law, state requirements and land law, to show absolute certainty ones rights to real property and land- since MERS.

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