MERS 2.0: CSP Another MERS for Securitization of Debt

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see GMAC Exec Appointed CEO of CSS

see Common Securitization Platform

see Common Securitization Platform — Freddie First

We all know that Mortgage Electronic Registration Systems (MERS) has been pretty thoroughly discredited although there are still many judges whose attitude is “so what”, and the foreclosure goes forward anyway. MERS does not meet the statutory requirements to be a beneficiary under a deed of trust nor a mortgagee under a mortgage deed. It is a naked nominee, wearing none of the clothes required to be a lender, holder of the note or owner of the mortgage. And it even says so on its website, disclaiming any interest in any loan, debt, note or mortgage. It has been used extensively (an estimated 80 millions loans have been registered in the MERS system). Its purpose was to hide—-

(1) the real lender,  making virtually every loan a table  funded loan and therefore predatory per se (something which people have still not caught onto — until the Supreme Court says AGAIN, predatory per se means that it is against public policy, negating the right to obtain equitable relief [foreclosure]

(2) the real transactions of real money in the origination of loans and the acquisition of loan documents

(3) the real players in the lending process

(4) the real players in the collection process

(5) the real players in the foreclosure process

(6) theft from the investors

(7) theft from the borrowers

(8) fraud on the courts

Many knowledgeable judges, county recorders, legal analysts and title agents around the country have all come to the same conclusion: the use of MERS forever corrupted the public records systems for recording title and interests in real property. And yet those defective encumbrances remain in the public records as though MERS was real and the facts from the MERS platform were true. Clearing the title problems and compensating victims of foreclosure fraud enabled by MERS remains among the great challenges to all branches of government.

The problem for the banks is that if they fess up to the truth, the banks, their stockholders and anyone who relies upon them (i.e., the Federal government) will see their benefits go up in smoke. So they have been quietly seeking a way to cover the whole thing up and sweep it under the rug. Statutory changes were discarded because that would amount to admitting that something was wrong. So they hit upon the idea of institutionalizing the whole concept all over again — which will lead to yet another and bigger catastrophe than the one called the “Great Recession.”

It was obvious that if any of the largest banks were involved, alarm bells would have gone off all over the place. So they are using Fannie and Freddie, with a GMAC exec at the helm to start a “Common Securitization Platform” (CSP) that will not only enhance the illusion that prior fake securitizations were real, but also provide a quasi-governmental entity whose “business records” will seem more real than even the property records of any given county. It is a blatant usurpation of state powers with no more viability or validity than MERS. This is MERS 2.0. They will probably treat it as an administrative function of a quasi governmental agency entitled to the presumption of truth. Sounds like MERS, looks like MERS, smells like MERS, Walks like MERS …. must be a duck. [I said in 2008 in a 6 day marathon deposition of me as expert witness that they might just as well have put the name “Donald Duck” on the note and mortgage — since they were already using fictional characters.]

Bottom Line: They are institutionalizing prior acts of fraud against the taxpayers, the government (Federal, state and city), investors and borrowers and clearing the way for it continue unabated. The reason is clear: our political leaders from all political spectrums don’t have a clue about the real world of finance and they are scared to death by threats from bankers that if they go down, they will take the country down with them.

Where is Teddy Roosevelt (“Trust buster”) when you really need him?

11 Responses

  1. Reblogged this on California Freelance Paralegal and commented:
    Great blog post from Neil Garfield on what he calls MERS 2.0 also known as the Common Securitization Platform.

  2. Ghana suspend 22 judges, High court judges suspended.

    The Judicial Council stressed that perception and actualities of corruption in the justice system undermines the judiciary. – See more at:

    Already the news of the investigations by the popular journalist has struck fear and panic in what is already the biggest scandal to hit the judiciary.
    Some have been hospitalized, collapsed and the stronger ones are fighting to keep the video out of public viewing.
    There is a premier of the video set for 22 September at the Accra International Conference Center in Accra.
    In what many believe is a judgment of God on human judges, Ghanaians are jubilating on social media and applauding Anas.
    The cups of corrupt judges are full, social media is buzzing.

    What happens over there is here or will be here. Its an absolute certainty

    Trespass Unwanted, Creator, Corporeal, Life

  3. Im with TU
    eVery individual acting within the authorized capacity has bestowed upon them the wrath of professional accountability and a public duty – call it a job hazard – and the old ” plausible deniability ” will not wash when there was cause to know and the bar is a prudent man would have done their due diligence, especially when you consider the FAR REACHING consequences of the overal economic harm on 99% of the people of this nation and their children and childrens children- UNLESS unchecked it can only get worse.
    You cant just take peoples homes and be unjustly enriched, and thats what i believe under Law.

  4. Not buying it.
    There is now individual accountability.
    MERS can go Kaboom! All the people need to do is wake up and look beyond the illusion and see the name of the man or woman who said MERS wanted something when we know MERS doesn’t think, it’s a corporation.

    Individual accountability for trying to hide behind a corporate veil and steal, or help steal.

    Anything think a judge has no individual accountability cause they hide behind court business? Anyone think that?
    What you think helps determine what someone can do to you.
    Who’s accountable?
    The wizard has no power,
    the emperor is naked.

    Trespass Unwanted, Creator, Corporeal, Life, Free, People, Independent, State, In Jure Proprio, Jure Divino

  5. Hey Neil –
    there are thousands of us out here that are not MERS victims; rather securitization and false assignment fraud by other means…
    not Fannie or Freddie either…
    Any chance we could have a posting focusing on us?


  6. No transparency no deal. What is wrong with people buying homes without full transparent disclosures after 2008 they saw what happend
    Due diligence now just say no.

  7. We, the people, cannot allow this national fraud happen again. Why are people buying houses, when all the documents are fake, fraudulent, forged and the loan is predatory per se.

  8. In the wake of the Monica Lewinsky scandal, Slick Willy Clinton made a deal with three Republican Senators, Graham, leach and Bliley.

    The Graham, Leach and Bliley Act disposed of “Glass-Steagall”.

    “Glass-Steagall” was created, in the aftermath of the ’29 Crash to keep large, commercial banks from tampering with residential, home mortgages.

    Once both political parties had opened the door for Wall Street to screw American Borrowers, Subprime Lending was allowed to run rampant.

    Once Subprime Lending had provided a “Boom” period for the banks, the banks then orchestrated their intended “Bust” period: mortgage foreclosures predicated upon FRAUD, insider trading, forgeries and hopelessly corrupted land titles.

    Of course, anyone with half a brain recognizes Wall Street has created a wholly fraudulent Securitization Scam and they are simply waiting to collect on TRILLIONS owed to the phony, fraudulent “bets” they have created as derivatives.

    An election is looming.

    We The People must internalize the facts listed above and force any potential elected representative of We The People to disclose their understanding of the criminal FRAUD that is Wall Street and the central banking system.

  9. The MERS is the fake gambling parlor from the movie, “The Sting”.

    In the movie, con-men posing as employees of the phony gambling parlor, took advantage of “insider information” to rig “bets” to their advantage.

    In the MERS, con-men posing as “employees”, used rubber stamps they purchased from the MERS for $25.00. The rubber stamps conferred “Senior Vice President of MERS” status on them.

    The “Senior Vice Presidents of MERS” were no such thing. Instead, the phony “Senior Vice Presidents” were employees of fly-by-night mortgage brokers.

    The CEO of the MERS was deposed and forced to admit he is the “sole employee” of his company… He also claimed his company owned 80 million mortgages… must be a busy guy.

    The con-men in the movie made “bets” on horses.

    The con-men of the MERS made “bets” on houses.

    In each instance, those making the “bets” did so using “inside information”.

    The con-men in the movie already knew which horse had won the race BEFORE THEY MADE THE “BET”.

    The con-men in the MERS used any number of FRAUDS to cause the borrower to stumble before they made “bets” on the house; a good example is encouraging borrowers to go 90 days behind in order to receive a modification.

    Once the con-men in the MERS got their 90 days, they placed short sale, derivatives “BETS” against the borrower’s performance on the loan.

    The international short-fall to “Notional Derivatives” is now reckoned as in excess of 682 TRILLION DOLLARS- OR, TEN TIMES THE GDP OF EVERY COUNTRY ON THE PLANET, COMBINED.

    Those are the “short-sale bets” We The People know about. There are another 600-plus TRILLION DOLLARS that are being concealed from US according to some sources.

    The central banks are insolvent- As such nobody owes them anything except contempt.

    The central banks have not reported “M3” since 2006; were they to do so, it would prove their hopelessly insolvent state.

    The central banks also own the DTCC and DTC- each responsible for reporting derivatives. Just like “M3” the banks are refusing to report derivatives as well.

    The central banks also owned Fannie and Freddie at one time, until it was taken into conservatorship in 2008.

    The whole thing is an elaborate, well-orchestrated SCAM.

    In the movie, law enforcement is portrayed as a bunch of hapless, weak-minded STOOGERY.

    In the current foreclosure SCAM referring to law enforcement as weak-minded STOOGERY is to pay them a compliment.

  10. This country has been here before, Google Nicholas Biddle.

    Biddle died in prison after telling the president he would “ruin him”, politically.

    Biddle, as president of the second central bank, used his influence to restrict lending and therefore, hamper growth in the economy (sound familiar?).

    President Jackson stripped the central bank of all the federal contracts and forced the country to accept the FACT: THE GOVERNMENT ISN’T THE ONE OPPRESSING THE PEOPLE, INSTEAD, IT IS THE BANKS (again: sound familiar?).

    There is a reason Andrew Jackson is on the $20.00 Bill- it is because he defeated the second central banking scam and the Pigs that ran it.

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