FIRST MERS THEN MARS and PHOENIX: Systematic Destruction of Original Notes

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EDITOR’S NOTE: Discovery should include inquiries about MARS and Phoenix. See below. Inch by inch we get closer and closer.

From a reader in litigation:
I worked for Wells Fargo as an contractor. I was a computer programmer in the Frederick, md office. I also worked in the Columbia, md office where Wells operated as the Master Servicer for most of these securitized pools.
I helped program the software that selected loans to pool. The system was tied into their origination system (A mainframe system called MARS). The investment side would feed it the criteria of the types of loans it needed to fill the pools. Terms, int rate, etc. This would in turn feed into the origination system and “magically” tell all of wells fargo what type of loans to originate. This was about 5 yrs ago. I remember asking questions as to where the originals where and know one could answer. They scanned the note and mortgage. Some went to a storage facility allegedly in the mountains. As that cost increased, they just simply started scanning and then destroying.

When I worked for the master servicer headquarters in Columbia, MD. That place was like Fort Knox. It rivaled any DOD top secret facility here in the DC area. I worked on a system called Phoenix that housed all the information of who where the investors. I almost got fired for accidentally bringing in a usb drive one time.

The Wells Fargo Columbia, MD office is where all the magic happened behind closed doors. The master servicer as you know controls the flow of money, advance payments, etc. One side of the building was completely off limits. The investment brokers and execs sat on this side with guards.

If you find some addl people from that office we can depose individuals from that office and piece together more facts.

Ironically, I have a federal case in MD court against Wells Fargo, HSBC and Mers. I know they don’t have my note, but my case has just sat for months. These latest news revelations will give me more ammunition to move forward.

Tags: HSBC, MARS, Master Servicer, MERS, Phoenix, Wells
Posted in bubble, Corruption, Eviction, securities fraud |