Submitted by dan, whom I think is 100% right here: After a closer look at trust law (see Gilbert Law Summeries on Trusts by Edward C. Halbach Jr), the 4 critical elements of a trust are: 1. trust intent. 2. specific trust res or property. 3. properly designated parties. 4. valid and legal trust purpose. …
Wells Fargo Bank, N.A. appears in many ways including as servicer (America Servicing Company), Trustee (although it does not appear to be qualified as a “Trust Company”), as claimed beneficiary, as Payee on the note, as beneficiary under the title policy, as beneficiary under the property and liability insurance, and it may have in actuality …
Wells Fargo, Option One, American Home Mortgage Relationship Read More »
From http://www.mattweidner.com These statutes provide numerous regulations and requirements that entities engaging in trust activities should comply with, but the regulations are largely being ignored by the entities engaging in trust activities and both courts and the enforcing agency, the Florida Department of Financial Services, Editor’s Note: Matt Weidner is onto something here that has …
see MERS INSTRUCTIONS TO TRANSFER RIGHTS OPTION 1 MERS INSTRUCTIONS TO TRANSFER RIGHTS OPTION 2 PRECLOSING REG SHOWS PRE-KNOWLEDGE OF SECURITIZATION Arnold admitted MERS does not have a beneficial interest in any mortgage; does not loan money; does not suffer a default if monies are not paid; etc…the internal agreement used by MERS expressly disavows …
MERS Admits NO Interest in Mortgage and No Loss On Default Read More »
BTW, I ask about verifying that the ‘Substitute Trustee’ is indeed a TRUST since I saw a post that made a point that any named ‘TRUSTEE’ must really be a TRUST. Quality Loan Servicing was nominated by Litton Loan Service’s employee (via MERS) as the Substitute Trustee in place of ReconTrust. I may have a …
Verifying that the ‘Substitute Trustee’ is indeed a TRUST Read More »
Many Thanks to Sal for pointing out the statute from California. It is time to use the presence of MERS on the originating loan paperwork as an OFFENSIVE TACTIC. Most states have some version of the statute below. It is simply common sense. A creditor is not a creditor unless they are owed something. A …
NOW AVAILABLE OF AMAZON/KINDLE! EDITOR’S NOTE:MY WIFE WILL KILL ME IF SHE FINDS OUT I’VE BEEN WORKING. SHHHHHHHHH. This news is irresistible. MERS is all but dead with this single decision (see below). Here are the salient points: MERS is not a beneficiary even if the mortgage deed or deed of trust states …
