VERY IMPORTANT! A DIRECT Ruling in regards to a RESPA sent letter to a Mortgage Servicer (GMAC) - So Everyone NEEDS to send the letter in a previous Post!

The Illinois Appellate Court ruled yesterday, by reversing a lower courts ruling for GMAC in regards to RESPA laws and a letter sent to the servicer asking for information about their loan!   

This is VERY IMPORTANT - In regards to getting the letter OUT to your servicer via certified letter asking for all information about your loan!  This is a defense of foreclosure and IF they do foreclose without replying to the letter, than you can SUE!

I had inserted a RESPA letter on Dec. 5th for everyone to send out to their loan servicer! If you had not before - NOW is the time to do it! It shows it IS IMPORTANT due to this ruling!

Please look AND READ page 3 of this ruling, to see how the letter DOES APPLY! It specifically is the reason why the appeals court over ruled a lower court's decision for GMAC.

C v. G W

MERS Has Gone RICO and Jim Willie did an Awesome Article about it! THE PEOPLE WILL WIN! WE HAVE TO FIGHT!

I LOVE Jim Willie and what he says, as he ALWAYS Says what it is!  He has done a Big article about MERS today!

MERS has Class actions against it - they are RICO - which is racketeering charges! This is HUGE!

What I do find interesting is no one is mentioned Goldman Sachs as part of it all!  THEY ARE!  They OWN Litton Loan Servicing and they HAVE Foreclosed on people with Fraudulent paperwork also!

GOLDMAN SACHS IS PART OF ALL THE FORECLOSURE FRAUD ALSO!  THAT INFORMATION HAS TO GET OUT!  I KNOW WHAT I AM TALKING ABOUT!  My loan is Goldman Sachs (Litton Loan) - they ARE MERS!

Portions of article linked:

The Racketing Racketeer Influenced & Corrupt Organizations Act of 1970 was designed to fight organized crime. RICO has been invoked in class action lawsuits in at least two states in the past month, each related to mortgage fraud, securities fraud, and illegal property seizures. At the center of the firestorm lie JPMorgan Chase, Bank of America, and GMAC (now called Ally). Little did the USCongress realize that RICO laws might be used to fight profoundly deep criminal fraud on Wall Street. When the criminal activity is tracked with some forensic analysis, the roots are found with REMICs, those perverse financial instruments that functioned as umbilical cords to Fannie Mae in past years, acting like powerful centrifuges. They fed the housing bubble and mortgage finance bubble, each valued over $10 trillion in size. Bear in mind that RICO has been used primarily against mafias and crime organizations dealing with gambling, drugs, and prostitution, where property seizures are routinely carried out. Abuses have been seen in states like Florida, where motorboat owners guilty of owning small bags of marijuana have lost their boats in legal seizure. It seems that selective enforcement is obvious. The target within the crosshairs has moved to Wall Street banks and Fannie Mae under the USGovt protective wing. These are dangerous times.

M.E.R.S. DATABASE -- THE WEAK LINK

The mushroom has a primary point of vulnerability that has received very little attention. The Mortgage Electronic Registration Systems (MERS) was originally an innovative process that simplified the way mortgage ownership and servicing rights were originated, sold, and tracked. MERS is a property title database, intended by Wall Street and Fannie Mae to serve as a repository that kept order when mortgage bonds were traded fast and furious. In recent court cases in at least three states, the MERS database failed to attain legal standing in mortgage foreclosure challenges. The holder of the note (home loan) could not combine with the MERS database (title holder) to win property seizure. The system began to unravel. Now in at least one state, the MERS database is directly cited in a criminal fraud class action lawsuit that invokes the RICO statutes. MERS is the financial system's Achilles Heel. Maybe a big bank like Bank of America might collapse, fall into ruin, and dissolve from proof of racketeering, its assets confiscated by aggrieved parties to fraud. Obviously, Bank of America along with several other big banks have been dead for a long time, since October 2008 in my estimation. If not for the lax and complicit accounting rules by the Financial Accounting Standards Board, which permit banks to declare their own fictitious value for their balance sheet assets, imposed in April 2009, the big banks would undergo liquidation. They cling to control of the USGovt financial purse, its USDollar printing press, its conduits to financial centers, and its extended arm to legal prosecution control. Big bank liquidation is tantamount to liquidation of the entire US financial structure, its power and privilege, in plain words.

Breaking News - Bank of America Delays Foreclosures in 23 States - A MERS Corp - Of course! :)

WOW - They are all one after the other STOPPING/Delaying Foreclosures in the States.  Bank of America has Delaying Their Foreclosures in 23 states as of 12:00am EST. Oct. 2nd!

Portion:

WASHINGTON -- Bank of America is delaying foreclosures in 23 states as it examines whether it rushed the foreclosure process for thousands of homeowners without reading the documents.

The move adds the nation's largest bank to a growing list of mortgage companies whose employees signed documents in foreclosure cases without verifying the information in them.

Bank of America isn't able to estimate how many homeowners' cases will be affected, Dan Frahm, a spokesman for the Charlotte, N.C.-based bank, said Friday. He said the bank plans to resubmit corrected documents within several weeks.

Two other companies, Ally Financial Inc.'s GMAC Mortgage unit and JPMorgan Chase, have halted tens of thousands of foreclosure cases after similar problems became public.

The document problems could cause thousands of homeowners to contest foreclosures that are in the works or have been completed. If the problems turn up at other lenders, a foreclosure crisis that's already likely to drag on for several more years could persist even longer. Analysts caution that most homeowners facing foreclosure are still likely to lose their homes.

State attorneys general, who enforce foreclosure laws, are stepping up pressure on the industry.

WOW - Ohio Attorney General Refers JP Morgan and MERS to Federal Prosecuters!! MERS is BUSTED!

I am SO EXCITED!  This is AWESOME!

REFERRAL OF CHASE HOME MORTGAGE AND MORTGAGE ELECTRONIC REGISTRATION SYSTEMS, INC. TO FEDERAL PROSECUTOR: Secretary Brunner, in two letters dated Aug. 11, 2010 and Sept. 1, 2010, referred matters of alleged notary abuse in thousands of home mortgage foreclosures by Chase Home Mortgage and the Mortgage Electronic Registration Systems, Inc. to U.S. District Attorney Steven Dettelbach in Cleveland. Citing two depositions, (one & two) of Chase employee Beth Cottrell, taken in Columbus in May of 2010, and a deposition of MERS Secretary and Treasurer, William Hultman taken in New Jersey in April of 2010.  These depositions contain sworn testimony that at Chase Home Mortgage, 18,000 documents per month are executed and notarized per month by eight people, with admissions that:

1. it is the notary and not the document signer who gives an oath who fills in numbers in the affidavits used in court ordered foreclosures,
2. no oath is administered for the signing of each document,
3. notarized documents are not verified by the person signing and giving oath that they have personal knowledge of the contents of the documents, but rather, signers are relying on verification by others,
4. documents are signed in bulk and notarized in bulk separately,
5. notaries know this at the time they notarize documents in this process.

The MERS deposition of William Hultman demonstrates that after corporate status changes occurred for MERS, new designations of authority were not executed, leaving one or more individuals for the former MERS corporation continuing to delegate authority on behalf of the new corporation without authorization by the new corporation.
According to its website: “MERS was created by the mortgage banking industry to streamline the mortgage process by using electronic commerce to eliminate paper…MERS acts as nominee in the county land records for the lender and servicer. Any loan registered on the MERS® System is inoculated against future assignments because MERS remains the nominal mortgagee no matter how many times servicing is traded. MERS as original mortgagee (MOM) is approved by Fannie Mae, Freddie Mac, Ginnie Mae, FHA and VA, California and Utah Housing Finance Agencies, as well as all of the major Wall Street rating agencies.”
MERS was created by the mortgage lending industry to:

1. eliminate frequent re-recording of liens,
2. avoid paying county recorder fees and other local taxes as mortgage loans are assigned as backing or securitization for derivatives trading by banks and other financial institutions,
3. monitor and facilitate the transfer of original mortgage notes in the trading of mortgage-backed securities,
4. foreclose on mortgage notes for unnamed note holders, even though it is not the real financial party in interest and does not hold the original note for the mortgage.

Currently, over half of all new residential mortgage loans in the U.S. are registered with MERS and recorded in county recording offices in MERS’ name, reducing transparency, leaving consumers unable to determine who actually holds the note on their homes.
Secretary Brunner made the following statement on the situation:
“Mortgage foreclosure documents must be notarized according to the law. Requiring this is not an afterthought or an exercise of form over substance—the law must be followed when taking away someone’s home, regardless of the circumstances.
For too long thousands of homes have been taken from consumers without proof that the foreclosing party actually has that right. Our courts must be cautious and require absolute adherence to the law. As the officer in Ohio who licenses notaries, I cannot stand idly by and watch financial institutions concoct a chain of title they never had by abusing the notary process.
It’s not fair to consumers or to the employees who by virtue of their jobs, are signing these documents. I urge the U.S. Department of Justice to take up this investigation with vigor and purpose to protect consumers and hold financial institutions to the standards of scrutiny and exactitude required by law, even if it means prosecuting some of our largest corporations. These apparent violations of state law point to schemes that merit federal investigation of large institution lending practices and use of the U.S. Postal Service.”
Last week, GMAC Mortgage announced it had suspended evictions and post-foreclosure closings in 23 states over concerns about employees preparing foreclosures with affidavits submitted to judges containing information they did not personally verify. Yesterday it was announced that JPMorgan Chase and Co hired external counsel to review its affidavit process based on the depositions of Beth Cottrell and is delaying approximately 56,000 current foreclosure proceedings.

WOW MSM - Bloomberg - Article about MERS and Foreclosure Fraud - Says Class Action Suits Expected Against Servicers!

HOW COOL IS THIS!!!!!  Blooomberg has an article about Foreclosure FRAUD and how they Expect Class Action Suits against Mortgage Servicers.  Of course they don't say MERS, they would not dare, as none of the MSM has mentioned the Whole Thing of Mortgage Foreclosure FRAUD Stems from MERS!

Portion:

Two senior executives at mortgage servicers said their companies were bracing for more legal action contesting foreclosures because of the press attention. The executives requested anonymity because they weren’t authorized to speak. 

“I anticipate some people I know, possibly myself, are going to be involved in reopening these cases to get money for people who can’t get their houses back,” said Richard J. Burton, a Miami attorney who started the Foreclosure Project LLC, which provides legal representation to homeowners facing foreclosure. 

Burton said he expects that a class-action suit will be filed against GMAC and other lenders seeking damages and to stop foreclosures. GMAC hasn’t stopped foreclosures, only evictions related to them.

MSM - Big Article about FORECLOSURE FRAUD!! WOW - Finally a MSM outlet is running an Article on the Fraud - Washington Post

Ally Financial legal issue with foreclosures may affect other mortgage companies

This is so totally Awesome!  Finally a MSM outlet - The Washington Post, is acknowledging the fraud lawsuits and the Fraud in Mortgages.  They don't say MERS in the article, but they do say how foreclosures may have been fraudulently handled, by a foreclosure factory.  

They are lightly touching on the subject, But it is a start.  They are not even going to the fact of MERS and no ownership in the article.  I am thrilled that there is even a MSM article that acknowledges there are problems with the mortgage foreclosures.  Remember GMAC is a MERS company, so...........

Portion from article:

Some of the nation's largest mortgage companies used a single document processor who said he signed off on foreclosures without having read the paperwork - an admission that may open the door for homeowners across the country to challenge foreclosure proceedings. 

The legal predicament compelled Ally Financial, the nation's fourth-largest home lender, to halt evictions of homeowners in 23 states this week. Now it appears hundreds of other companies, including mortgage giants Fannie Mae and Freddie Mac, may also be affected because they use Ally to service their loans. 

As head of Ally's foreclosure document processing team, 41-year-old Jeffrey Stephan was required to review cases to make sure the proceedings were legally justified and the information was accurate. He was also required to sign the documents in the presence of a notary.

In a sworn deposition, he testified that he did neither.

 

I am EXCITED! Judge Finds FRAUD in Florida Foreclosures on JPM part - GMAC Halts ALL Foreclosures in 23 States - But this is MERS - Lets see what other servicers do!

This is so AWESOME!

This is a MERS mortgage servicer, lets see what happens with other MERS servicers.


GMAC Halts all Forclosures in 23 States - Due to Judges ruling finding FRAUD in mortgages in Florida!

Portion:

As we pointed out last week, a certain judge in Florida set quite a precedent when he found that JPM, as servicer for a Fannie mortgage, had committed court fraud by foreclosing while not in possession of the actual mortgage. We then concluded that "The implications for the REO and foreclosures track for banks could be dire as a result of this ruling, as this could severely impact the ongoing attempt by banks to hide as much excess inventory in their books in the quietest way possible." Not a week has passed since, and we are already proven right. Today, Bloomberg discloses that GMAC Mortgage, a unit of the affectionately renamed Ally Bank, has halted all foreclosures in 23 states, including Florida, Connecticut and New York. Who would have thought that being caught with your pants down, doing something so blatantly illegal as collecting on something you do not own, would actually have adverse consequences. And GMAC is just the beginning - we expect many more mortgage servicers to scurry now that the light has been shone on their shell game. The silver lining - the permabull pundits will cheer this development now that foreclosures will plunge off a cliff as mortgage holders and servicers scramble to reconcile who owns what, and just on whose balance sheet the mortgage flows should show up.

Ally Financial Inc.’s GMAC Mortgage unit told brokers and agents to halt foreclosures on homeowners in 23 states including Florida, Connecticut and New York.