MERS History Re-Re-Revised

Several comments have been posted in addition to other information about MERS which is bringing the entire MERS issue over the brink of the absurd. Who, what where is MERS? Write in with your MERS stories. Take note that we are dealing with at least four entities that I am now aware of —MERS, MERSCORP, Mortgage Electronic Registration Systems, Inc., (note plural), Mortgage Electronic registration System, Inc. (note singular). Who are they? What are they in this shell game of “bankruptcy remote vehicles and why are the courts so deaf to the obvious implications of this game on the quality of title on each and every one of the 60 million homes that MERS alleges to have in its data base? Is our judiciary being run by politics — the one branch of government that is supposed to be independent of the executive and legislative branches that have been so useless in this crisis?

In a classic reverse of fortunes, the bad guys have taken control of the dialogue and using legal technicalities and their formidable size and names to impress the judge that it is the hapless borrower who is trying to get away with something on a legal technicality. In a perversion of lady justice, these people take homes that satisfy no obligation and keep the proceeds as a tip for keeping their mouths shut about the pornographic profits earned by Wall Street when these financial products were sold upstream to investors and down stream to homeowners. It is hush money to maintain the cone of silence about the huge profits earned on the down side when the mortgages went into default, just as they were always planned to do.

One reader writes in about Ohio: “I find it very interesting that here in Summit County Ohio, MERS USED to be listed as the Plaintiff in foreclosure actions within our court system. NOW, they are always listed as a Defendant. It’s like playing a game of MONOPOLY with my little brother here. When he found himself on the losing end of the game, he simply changed the rules.They CANNOT have it both ways.”
Another reader wrote in that in Florida the ONLY way MERS is registered to do business is as registered agent to receive service of process. If that is true their representations in hundreds of thousands of foreclosures has been false, fraudulent and flagrant. But of course we know that isn’t the only reason their representations have been false, fraudulent and flagrant.

Yet Minnesota seems to be sensitive to the banking interests, passing laws and interpreting statutes to give MERS status it was never meant to have. Bypassing those annoying provisions of the 5th and 14th amendment about due process, and 500 years of common law, they allow MERS to foreclose on a home and keep the house distributing the title and proceeds anyway it wants even though no MERS entity has EVER put one dime into the transaction and even though MERS is a total stranger to the transaction other than being named, without its knowledge but with its consent in tens of millions of real estate closings.

And California is allowing Judges to abandon 500 years of common law in allowing someone who is a stranger to the transaction to make claims at the cost, detriment and prejudice to the real parties to that transaction. Further, California continues to allow the procedural shell game in unlawful detainers wherein they use the law that was meant to be used in normal evictions and misapply to foreclosures in which the actors are impostors, blocking the homeowner from access to the courts or the right to be heard, and preventing the exercise of his/her rights to due process.

How do we know? Because if you go to the MERS website they tell you. And what they tell you is that they are a bankruptcy remote vehicle to be utilized in evading or avoiding laws on taxes, recordation, fees, and reporting. They tell the banks not to worry, they will never make a claim for the mortgage or the note or the obligation. They say they are only a bookkeeping service.

And from other sources we know they have about 17 employees, they have an automated attendant system to deputize anyone who knows how to access their system, and that ANYONE can sign as an officer of MERS even if none of the 17 people who work there ever heard of you or ever will hear of you.
It’s a shell game, and lawyers and Judges should be concentrating on this not because it is a legal technicality but because if we are a nation of laws, the protection of ALL interested parties should be our paramount concern. In each and every legal action neither the borrower nor the actual lender who advanced the cash for the loan is part of that equation.

In a classic reverse of fortunes, the bad guys have taken control of the dialogue and using legal technicalities and their formidable size and names to impress the judge that it is the hapless borrower who is trying to get away with something on a legal technicality. In a perversion of lady justice, these people take homes that satisfy no obligation and keep the proceeds as a tip for keeping their mouths shut about the pornographic profits earned by Wall Street when these financial products were sold upstream to investors and down stream to homeowners. It is hush money to maintain the cone of silence about the huge profits earned on the down side when the mortgages went into default, just as they were always planned to do.

This isn’t hard to understand. It is hard to accept. It is a challenge to us as citizens regardless of our political persuasions, to break up the oligopoly that controls Washington in BOTH political major parties and reinstate government for the people and by the people. I’m doing my part, what are you doing?

Tags: CALIFORNIA, Florida, Inc., MERS, MERSCORP, Minnesota, Mortgage Electronic registration Systems, Ohio
Posted in bubble, Corruption, Eviction, securities fraud |