Remote Online Notarization: Banks are ramping up the way they will conduct illegal foreclosures

Posted on October 20, 2021 by Neil Garfield

Nobody talks about ICE.  But it owns the New York Stock Exchange, MERS and an incredible buffet of FINTECH capabilities and it operates as though it is a governmental or quasi governmental agency. It isn’t.

see https://candysdirt.com/2018/10/17/mers-and-ice-modernization-without-regulation-increases-housing-crash-risk/

And its practices have been institutionalized by longevity and the courts who have no idea what Wall Street is doing. The bottom line is that ICE — and its owners — have transformed the American and world marketplaces into their own personal piggy bank. As such, they  are steadilg increasing wealth inequality, unfairness in transctions, fraud in transctions, forgery, fabrication and outright theft.

The result has been social unrest, distrist of government institutions who failed to keep up with what Wall Street was doing and a growing public sense of impending doom.

The bottom line is that ocnsuemrs are making payments but they don’t know who is recieving the paymetns or why. And when they are coerced or sued they don’t know who is suing them or why. 

“ICE Mortgage Technology, part of Intercontinental Exchange Inc., has announced that MERSCORP Holdings Inc., the mortgage industry’s national electronic loan registry, is expanding its capabilities to now include industry-wide, secure storage of Remote Online Notarization (RON) videos for lenders, investors and servicers.” see https://mortgageorb.com/ice-mortgage-announces-expansion-of-mers-remote-online-notarization-capabilities

Although ICE is supposedly headquartered in Atlanta Georgia its money trail nearly always leads to offshore accounts. More importantly, it has risen to dominate nearly every facet of every financial transaction including and perhaps most importantly transactions with homeowners that they have labeled as “loans.”

Although advertised as a financial technology company it is, in a very real sense, the prime player in the creation maintenance, and promotion of securitization infrastructures and the creation, maintenance, and prime player in fake foreclosure infrastructure that plagues not only homeowners but virtually everyone else who is a party to what appears as an installment debt.

Readers of this blog (and other blogs, articles, shows and news outlets) know that notarization had become a joke in the late 1990’s. People were hired for the express purpose of documents that were put in front of them, with no time to read them because they were signing thousands of documents per day.

In turn, those documents were initially forwarded to someone licensed as a notary in any state. Nobody signed any document in front of a notary which is the point of having a notary. And went the logbooks are requested, demanded or subpoenaed they go missing.

And all of that is because the foreclosure players are all involved in the creation and use of false fabricated documents that refer to nonexistent transactions for the sole purpose of achieving a remedy to which nobody is entitled to receive — foreclosure.

So just so you know who is behind all of this — i.e., the central command of all illegal foreclosures based on false claims of securitization of debt, here is some information for you taken directly from Wikipedia. I have independently researched this data and I can confirm that all of it is correct:

And just to be clear, the participants in this scheme all agreed to STOP using false, fabricated fruadulent documents to get foreclosure judgments and sales in the 50 state settlement that was mere windown dressing. It has never been enforced and homeowners have for the most part never received any benefit from it — even though it recites a pattern of illegal activity to get foreclosure remedies that were awarded to thousands of players in millions of cases and distributed like candy instead of satisfiying a loan account receivable — which of course did not exist, being basically irrelevant to the securitization infrastructure that sold intangible rights and bets rather any debt of any consumers or homeowners.

 

 

 

Filed under: foreclosure |

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3 Responses

  1. ANON, on October 20, 2021 at 8:31 pm said:

    John — absolutely!!! Thank you for posting this. A refi – when you were already “Distressed debt” is nothing more than reinstatement that keeps you in the same hole that you can never leave. There is no escape. In fact, all the crisis loans were based solely on reinstatement and not a true MORTGAGE refinance. But, as pointed out by many – we paid for a true mortgage refinance. NOT!!! Never happened. Nothing paid off by the borrower. No funding EVER occurred. Ian — ditto to what you write!! Look at Neil’s list. And, where is the U.S. Government? They are hiding because debt buying – particularly distressed debt default buying – is the biggest business in the world. And, our U.S. economy runs on services (GDP consumption component cannot survive on consumption when home ownership wealth is destroyed – and has been weakening for decades. We produce nothing in the U.S. – supply chain crisis now – which will escalate). Our economy is reliant upon distressed debt buying tapped into the single greatest American asset wealth – a house/home. It is an outstanding horrific problem that is ignored by every single politician. This is a U.S. government problem. And, no person should be forced to battle the fraud in court. We have been abandoned by the U.S. government. And, their other choices will leave the whole country – destroyed.

  2. John, on October 20, 2021 at 1:57 pm said:

    We recently tried a refi with an otherwise reputable co. As we approached closing day, we inquired as to who the new ” owner ”
    was to be after sale / securitization. Suddenly no quick answer.
    First they said they would carry the loan, but then they changed
    and said it would be sold. We ended it then and there. One of the
    main reasons we want to refi is to escape any more wink, wink and
    finger-crossing.

  3. Ian, on October 20, 2021 at 1:53 pm said:

    Neil, I’m pretty sure that a number of us could see this coming, but thank you for bringing it to the attentions of all readers of your blog.

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