The legal counsel for MERS called Daniel Pennell of Naked Capitalism yesterday. What Richard Anderson of MERS told him, is so typical of the big banks and what they believe will or will not happen! It shows they believe they are ABOVE the law and the White House will twist the laws to make MERS foreclosure FRAUD legal!
What is also very interesting is him saying "That they would rather walk away from loans right now of those WHO FIGHT foreclosures than to have MORE judges RULE AGAINST THEM!
Did you get that? In other words - STAND UP RIGHT NOW AGAINST A FORECLOSURE! MERS banks would rather WALK AWAY than go to court to have more RULINGS AGAINST THEM! This is very important to understand right now! I believe there is a window of time, where the banks are running scared! Most Judges around the country are ruling by the law, there are some who still will not. But those cases can be appealed to a higher court which rules by the law. That has been happening around the country also!
Richard Anderson displays such cockiness as to say - MERS banks will do as they want and that Judges should not rule against them, due to the amount of mortgages they have in the U.S. (60% of mortgages are MERS).
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That’s not unexpected behavior–better to cave with small dollars than to lose plus have adverse law become embedded in the case law for an entire federal district. That makes it appear to non-specialists that the jurisprudence in favor of lenders/MERS is static.