Tonight! Banks Get Taste of Their Own Medicine Neil Garfield Show 6PM EDT


The Neil Garfield Show With Co-Host Charles Marshall

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MERS is seeking to vacate a default quiet title judgment in a California lawsuit, by suing as a plaintiff on the basis that they were never properly served the lawsuit in which they were named as a defendant. Borrowers in California are increasingly using default quiet title judgments as a litigation tool, and we will discuss this process on the Show today.

In this particular case, in which MERS seeks to vacate the judgment, MERS is claiming a lack of proper service. Bill has exposed already in this case, through the discovery process, that MERS is not able even to demonstrate that they meet the minimum agency requirements of their own Membership Agreements.

An interesting wrinkle to this situation is that it exposes the court bias often seen for institutional foreclosure litigants, in which same litigants are able to get the benefit of the doubt when it comes to the application of service rules in foreclosure-related lawsuits.

4 Responses

  1. This is a $1.8 Quadrillion Mafia’s Ponzi scheme with derivatives and banks will do anything to protect it.

    A derivative is a contract between two or more parties whose value is based on an agreed-upon underlying financial asset, index or security.
    Futures contracts, forward contracts, options, swaps, and warrants are commonly used derivatives. Derivatives can be used to either mitigate risk (hedging) or assume risk with the expectation of commensurate reward (speculations)

    None of us (borrowers) are parties of these “contracts for derivatives” – but we ALL are Guarantors who pay for them….

    Foreclosures are the only way how to keep this Ponzi scheme moving because banks instantly destroy property Titles even before you sign for a mortgage because this is how they can sell multiply copies of your loan behind your back.

    So, the only way to obtain a “new” Title – is to foreclose with forged documents and resell your property to issue new fake securities.

    Judges and The Government are VIP investors, in this Ponzi scheme and they will fight to their money…

    BTW, MERS is now a part of another mafia group, Intercontinental Excahnge, Inc who purchased MERS between 2016-2018…

    First American Title is also part of Countrywide’s Mafia, CoreLogic who accrued them about 2007 to issue bogus Title which banks immediately destroy to sell your loans as several separate loans broken in myriads of securities, bogus derivatives, futures, stock options, you name it.

    All together collectively a “thin air BS”

    Intercontinental Exchange, Inc. (NYSE:ICE), a leading operator of global exchanges and clearing houses and provider of data and listings services, announced it has acquired the remaining equity of Merscorp Holding, Inc., owner of Mortgage Electronic Registrations Systems, Inc. (MERS). ICE has owned a majority equity interest in MERS since 2016. Price and terms of the transaction were not disclosed and will not be material to ICE’s earnings or have an impact on capital return plans.

    MERSCORP owns and operates the MERS System, a national electronic registry that tracks the changes in servicing rights and beneficial ownership interests in U.S.-based mortgage loans. Earlier this month, ICE successfully moved the MERS System infrastructure to the ICE Mahwah data center, an integral requirement for completing the final acquisition of the business.

    “As the U.S. mortgage finance industry transitions from a paper-based process to more digital mortgages and electronic notes, MERS is uniquely positioned to provide a seamless process that will bring greater efficiencies to consumers, lenders and institutional investors,” said ICE CEO Jeffrey C. Sprecher.

  2. Good show – need to ‘mic’ Charles better – cannot understand him – Bill is loud and clear – thanks guys!

  3. Poppy — hear you loud and clear. Nightmare.

    No one should be paying INVESTORS — no one should have any business with INVESTORS — You are 100% correct – no one signed any agreement to have a mortgage sold to INVESTORS. INVESTORS DO NOT GIVE MORTGAGES. Even if the whole “investor” scheme was valid, which of course it is not, INVESTORS can change in a moment. No one’s contract is with INVESTORS.

    The only reason why we have INVESTORS is because these are not real mortgages. The only real investor anyone should is Freddie or Fannie. But, even then, Freddie and Fannie would not foreclose. They never did foreclose. The bank you signed contract with would foreclose. The problem is we had non-banks who lent NOTHING. .

    The Courts are being told what to do. All is covered up.

    Thank you.

  4. In my suit right now, I have named Fidelity Trust of NY, MERS, Ocwen US Bank, Brock and Scott, esq., Trustee Services of Carolina, and Troutman Sanders (off New Century Origination, NCMC)…here’s the rub. Never been able to serve Fidelity. The same law firm is representing all the others. I am 100% certain, neither MERS, US Bank, Fidelity has contracted this firm to represent them. This is Ocwen, 100% sure…and they are keeping all this paperwork in a tight circle. I will get to MERS, myself, but pretty busy with all other filings…And considering a suit in NY State with DLJ Capital, Credit Suisse…as they started all this crap, off the NCMC bankruptcy. 11 years of constant litigation, with no standing and no basis at all. I have said this so many times to the court(s)…I do not owe these people anything. And in order to garner the state judgment, these same lawyers have submitted every single piece of fabricated paper, before the court. Then completed a foreclosure on the same property, DOT in 2009, with a set aside sale, which is incidental to the legal title transfer. The judges are getting some of this wrong…they no not of what they speak, in many cases. Non-judicial foreclosures are a thing of the past with the sale of mortgages…this changes everything and BTW, I never signed on to pay investors off my mortgage. This is another contractual issue, yet to be fought over.

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