Exclusive Interview- You don't have to have missed a payment now for the banks to STEAL your property! They are doing it through "Appraisals"!

I was contacted through my blog about this information.  I have various people contact me about things, some ring true some do not.  When I got this information it rang true immediately.  I wanted to know more about it.   After a few emails back and forth we set up a phone call.  I taped it through a video source with their permission.

I had not heard of the banks doing this.  I also researched on the internet after getting the email and could not find information about it at all.

This is the first time as far as I am aware that someone is stepping forward with this information.


The criminal banks are now stealing people's properties who have never been late on a payment!  How?  Through "appraisals"!  They are requiring homeowners and commercial property owners have new appraisals.   When those appraisals (in cohorts with the appraisers in getting them low) come back lower than the loan amount, at the property owners expense.

They give the property owner 30 days to pay the difference of loan to value of the property otherwise they take over the property and kick the owners out! They are doing it to homeowners and commercial property owners!

Property values have decreased 30% or more in areas around the U.S..

We hear how property owners are underwater for the properties all the time.

Well the banks are now out right stealing the properties via low appraisals that are less than the mortgage/loan amount!

This is OUTRAGEOUS! 

EXCLUSIVE INTERVIEW with someone who had this done to them and know of others that it has been done to. 

This information is no where on the internet.  I did not even know they were doing this!

Please get this information VIRAL and get people informed!  This has got to STOP!

The banks are now outright stealing the middle class properties.

The MORE who stand up - the less it can happen and then it has to STOP when enough say NO!

Please get this information out!  This is something new that the banks are doing and they can do it to EVERYONE!  You don't have to have missed a payment now for the banks to steal your property!

Remember there are supposedly those government programs for the banks to write down the principal balances of those who are underwater on their mortgages.  That was through the settlement reached with the AG's of the states.  But the states have instead been taking the money and using it for themselves and not the people!

To me a suit has to be brought against the AG's and the states themselves to get that money for the people instead of the budget over all of that state.   The AG's used it as a money source and not for the people.

So instead of writing down principals they are now stealing the properties through the appraisal value to loan amount!  

I believe this is also to cover their tracks for all the fraud they have committed.  They have sold one mortgage into different investor groupings.  They need to take over the properties to hide their fraud.  They also are doing this because they get the money from the insurance and government to "cover their losses."  But the reality is, it is all fraud and they are stealing every last property and dime from the middle class all through fraud. 

The courts are holding the banks accountable now, they are scrambling and they have now figured out another way to steal the property from people.  The U.S. government is allowing it.  The more depressed and down the people are the more able they are to control them.  The people become dependent upon the government. 

There is a lot more to say about this.  But also, please see the main MERS article/post I have that is linked on the side.  Inform yourself about the FRAUD of Wall Street and the U.S. government that is making Americans homeless!

DO NOT GET FORECLOSED ON!  KNOW YOUR RIGHTS!  THE MERS BANKS CAN NOT FORECLOSE ON YOU LEGALLY!  


Part 1 Interview of a person the banks did this to:






Part 2 of the interview:

Have you been foreclosed on in the past years? Washington State Supreme Court says you can SUE MERS for Fraud if so! Ruling affects everyone in the U.S.!

The Washington State Supreme Court has ruled that previous Foreclosures by MERS were FRAUD!  It says that MERS business model is based on deceptive practices.

The ruling sets it up where anyone was foreclosed on my MERS in the past can SUE them for FRAUD!

The Washington Supreme Court held that MERS' business practices had the "capacity to deceive" a substantial portion of the public because MERS claimed it was the beneficiary of the mortgage when it was not.

This finding means that in actions where a bank used MERS to foreclose, the consumer can sue it for fraud. If the foreclosure can be challenged, MERS' involvement would make repossession more complicated.

On top of that, virtually any foreclosed homeowner in the state in the past 15 years who feels they have been harmed in some way could file a consumer fraud suit.

This is a huge ruling for everyone that has been foreclosed on.

I wrote about this ruling last month when it happened.  


The ruling shows people can band together and sue MERS and all the banks under MERS for FRAUD!

I have tried for years to get attorneys across the country to do Class Action suits against the banks for previous Foreclosures.

I can tell you to go to the tab of "MERS lawyers" I have above that have contacted me and I have spoken with that are doing Class Action Suits and defend against MERS foreclosures.

I also am trying to get something more going regarding this, which I won't go into detail right now but it involves a very large organization that could start a tsunami across the U.S. with others doing the same.   If it comes to fruition I will write about it.

I am asking everyone who has been foreclosed on the the past years by MERS and a MERS bank to SUE the banks and MERS for the FRAUD they committed!

By standing up and standing together we can make a difference!

MERS is complete FRAUD!

Look on your deed and closing papers and see if you have a MERS bank and if MERS is listed!

If you don't know for sure you can find out and have a complete audit done by "USMortgageTruth" .
I have spoken to Jesse there multiple times.  A concern I had was about people being able to afford a complete audit.  He has now set up a program where people can get help without the thousands out that attorneys charge.   I believe it is set up for around $30 a month for 12 months.

Lenore Albert a lawyer from California who had started various Class Actions against MERS in the past contacted me and said she is going after the LIBOR fraud too.  I am inserting an email she sent me earlier this month about her suits.   Understand I believe from all of my correspondence with her and Jesse they both have their "heart" into suing the banks and stopping the FRAUD compared to  trying to make money off people.


This is an email I got from Lenore as we were discussing a Class Action across the board LIBOR suit:

I am not convinced that the loans need to be any type other than based on LIBOR, so I am not excluding Fixed as I have investigated and seen the numbers attached to "fixed" rate LIBOR loans well above LIBOR rate. It is not a variable that needs to be met. I am tightening up my putative actions.
1. LIBOR loans
2. Foreclosure sales that occurred from 10/8 to 12/31/2010.
3. Dual Tracking foreclosures with modification reviews with Aurora Loan Services (on appeal - fully briefed) unfair permanent modification in state court.
4. Stock plans that started to eviscerate after February 2012 with MorganStanley Smith Barney
5. TILA 131g (failure to disclose creditor claims) and modification issues with Wells Fargo and US Bank, NA.

Here is Lenore Albert's complete information:

Lenore L. Albert, Esq.
Law Offices of Lenore Albert
7755 Center Ave Suite #1100
Huntington Beach, California 92647
Phone: 714-372-2264 or e-fax: 419-831-3376

www.InteractiveCounsel.com

Understand it is through all of us standing up together and having the courage and fortitude to stand up to the banks that continue to get bailed out, now to infinity through the FED and their Q3 buying MBS for the banks.   The banks continue to get money and those banks double down constantly committing FRAUD against homeowners and kick families out on the street.

Please if you know of anyone who has been foreclosed on get them informed about this ruling and their rights against FRAUD of their foreclosure in the past.

If you are threatened with foreclosure know that a MERS bank has NO right to foreclose on you!  They have no standing!  FIGHT A FORECLOSURE!  FIGHT THE FRAUD!  STAND UP!
There are people who are honest and sincerely want to help people and to stop the fraud of the banks.


 Here is another paragraph from the article linked at the top:

Legal experts said last month's decision from the Washington Supreme Court could become a precedent for courts in other states. The case also endorsed the view of other state courts that MERS does not have the legal authority to foreclose on a home.

 

Supreme Court ruling of Washington State (Fraud) Foreclosure victims can sue the banks via "Consumer Protection Act"

A Supreme Court -Washington State ruling has now put MERS Fraudclosures in the line of fire for all previous fraudclosure victims.  

They can sue the banks for previous Fraudclosures through the "Consumer Protection Act."

The state Supreme Court yesterday called into question numerous foreclosures that have been done in this state, and opened the door for lawsuits by homeowners given the boot. Just how many foreclosures are we talking about? "Hundreds if not thousands," says Melissa Huelsman, a lawyer representing one of the plaintiffs in the case.

Huelsman points to another aspect of the ruling that she finds highly significant. It opens the door for homeowners who have faced MERS foreclosures to sue under the state Consumer Protection Act. "Characterizing MERS as the beneficiary has the capacity to deceive," the justices opined, adding that homeowners would have to prove they were damaged.

 We need all the state courts of the U.S. to begin ruling correctly and rule by the law!

Another news bit.  It seems BOA is not holding up to the agreement they made with the AG's.  They are blocking homeowners from getting the relief they are suppose to get through that agreement.

Banks are claiming "They don't own foreclosed property due to the up keep cost."

This is so classic.  Banks foreclosed on people and judges of course allowed it through the fraud.  Banks have to claim "ownership" and rights to foreclose due to ownership.   Once they foreclose they kick the people out through FRAUD of the foreclosure.

They then leave the properties empty and unattended if they are not able to sell the properties.  Now with so many empty fraudclosure of homes they are claiming "they are not the owners nor are they responsible for the maintenance and upkeep of the properties."

So... let's think about this, banks foreclosed then they can't sell the properties in the mean time they threw people out on the street instead of working with them to stay in their homes.... the houses stay abandoned for years and then banks don't want to spend the money of mowing their lawns or maintaining them?!

 Portion from article:

The complaint alleges that U.S. Bank, through foreclosures, has become since 2008 the owner of "thousands of residential properties" in L.A. "which it has completely failed to maintain." The result, it says, is that hundreds of these homes have fallen into disrepair, "causing blight and destabilizing communities."

A city press release says the bank's potential liability is in the "hundreds of millions of dollars."

Tom Joyce, director of corporate public relations for Minneapolis-based U.S. Bancorp (U.S. Bank), says in an email statement to ABC News that the bank, no less than the city attorney, is troubled that properties are not properly maintained and have a corrosive impact on neighborhoods.

He says, however, that the city attorney has chosen the wrong party to sue: U.S. Bank is not the owner of the properties, "nor are we responsible for the servicing" of them.

The homes, says the bank's statement, are owned by trusts and by investors in those trusts. Only the companies to whom homeowners send their mortgage payments are responsible for the homes' upkeep. Says the bank's email: "It is clear from the complaint that the city does not understand our role."

Frank Mateljan, spokesman for the city attorney's office, says he understands U.S. Bank's role just fine.

"They're named on the deed," Mateljan tells ABC News. "Much as the bank would like to blame gardeners and the pool man, it's the bank's responsibility to maintain these properties or to sell them to somebody who can."

Says Mateljan: "We find that funny and disturbing at the same time—a major bank asking, 'Tell us what properties we own and which are in disrepair.' If you're the owner and named on the deed, you have the benefits of being owner and the burden of maintenance."

L.A.'s suit, he says, is very similar to one the city brought last year against Deutsche Bank. These two actions "have lit a fire under both Deutsche Bank and U.S. Bank to get a better inventory of their properties, and do a better job keeping them up to code." The Deutsche Bank case is pending.

Deutsche Bank's position is that the city attorney "has sued the wrong party," for reasons almost identical to those advanced by U.S. Bank.

Now, is this information that can be used in lawsuits against the banks in defense against fraudclosures?   They are denying they are the owners of property after they committed fraudclosure!

Also.... isn't it a shame that they kick families out of homes and then they let them go down.  Look at Detroit.  Thousands of families were kicked out of their homes and the city bulldozed the neighborhoods, about 40 square miles worth.  What would it be like now if the courts had actually adhered to real estate laws in judging if a fraudclosure could happen?  Then those neighborhoods would still have families living there.

Just out - Geithner and the Treasury Department ignored all the Foreclosure Fraud of the Banks.

In response to homeowner complaints about mortgage servicers, Treasury "demonstrated no interest in taking even the most modest steps to punish them," Barofsky writes. "That was unconscionable, given the pain being inflicted on so many home owners."
In a meeting with Geithner -- this one involving fewer f-bombs than others -- Barofsky says he finally realized the root of the Treasury Department's apparent lack of interest in helping homeowners: They apparently had another goal in mind.

Information of Foreclosure Defense! Simple to understand Non-Valid Trust. Can suits be filed for the LIBOR Fraud of banks and governments? YES!

There can be lots of complex defenses against the FRAUD of banks!   I get confused at times, since I am not a lawyer about how to defend against a FRAUDCLOSURE!

Jesse Scott from Mortgage Auditors had mentioned article 9 to me a few times and posted a short email/article from him about it.  

Today I have found another article about "article 9" from Matt Weidner.  He is a lawyer and has a Law blog and it has a lot about the Fraudclosure happening and defenses of it.

I have to admit the whole  "Article 9" portion can seem confusing to me, considering I am not a lawyer.

But it is a very valid defense and everyone should look at using it.  Besides that defense there is something that is so simple to understand, in my opinion.

That defense is also on Matt Weidner's site.   It is about the "Pooling and Service" agreement, this was written in 2010, but is very very valid today. 

Every single loan/mortgage goes into a "Pooling and Service" agreement and that is ultimately a trust.  Normally that trust consists of hundreds of new mortgages.  That "Trust" is filed with the SEC.

Here is the part that is very important!  That trust is suppose to have "tax filings" (just like we have to file our IRS taxes every year) with SEC.   What you will find is there may be a filing or two regarding that trust, but then the filings stop.  You will find as a whole the "Trust" that has mortgages in it, stopped being an "effective or valid" trust, once the SEC filings stopped.  So.. that means that Trust is no longer valid and that Trust means there can be no Trustee to be able to foreclose on a home.   (I know the trust for my personal home,  stopped filing any thing with the SEC many years ago)

Here is the above linked article:

If you’re being sued by any entity acting as a trustee, i.e. “US BANK as trustee for the HP Series 2006-c Certificate Holders”, you need to be aware of a variety of issues that may be helpful in your case.  I will start another series of video blog posts on the “Capacity Argument”, because this argument works in nearly every case, but it is particularly appropriate in cases where Plaintiff is an exotic, alphabet soup Foreclosure Frankenstein.

Individual mortgages originated by lenders like New Century and Argent were pooled into groups of approximately 8,000 mortgages from around the country to form a Mortgage Trust which held mortgages which had (on paper at least) cumulative values of between 10-12 million dollars.  These mortgages that were grouped together and given a name like “HSI ASSETT SECURITIZATION CORPORATION TRUST 2006-OPT2″. Interests in these mortgage trusts were then sold to teachers unions, investment funds and other institutional sources around the world.  Before selling the interests in these trusts, the institutional investors were required to prepare the contract that would govern the rights between the depositor of the mortgages, trustee of the new trust and the company that would be responsible for collecting payments from homeowners and sending those payments out to those who had invested in the trust.  This contract is called the Pooling and Servicing Agreement.  The important thing about the Pooling and Servicing Agreement is you will find in virtually every case that all of the parties who are involved violate nearly every provision of their own Pooling and Servicing Agreement.  This has important consequences that we will talk more about later, but the Securities and Exchange Commission rules requires these trusts to provide important other reporting information that was widely ignored or worse, falsified by the entities in control of these trusts.  Finding such information can be a key to defending your case.

The Securities and Exchange Commission Edgar Database can be found here. You can also put the name of your Frakenstein, Alphabet Soup Trust into quotes, “The IXIX 2006-A Trust” into a straight google search and see what comes up. Here are Step-By-Step instructions:
Finding Pooling And Servicing Agreements  (PSA’s)
For Securitized Mortgage Loans
The “Pooling and Servicing Agreement” is the legal document that contains the
responsibilities and rights of the servicer, the trustee, and others over a pool of mortgage
loans.  The Pooling and Servicing Agreement can be a stand-alone document or it can be
part of another paper, usually called the “Prospectus.”  If the securitization is public,
these documents must be filed with the Securities and Exchange Commission (SEC), and
will be available to the public at www.sec.gov.  Locating a Pooling and Servicing
Agreement on the SEC website can be a challenge. The most important information you will
need to find the Pooling and Servicing
Agreement is the name of the original lender and the title of the pool of loans.  We will
work through an example below.  Assume that the lender is Ameriquest Mortgage Co.
We don’t know the name of the pool that the homeowner’s mortgage ended up in, but we
do know that the mortgage was made on June 1, 2002.

Step One:
Go to www.sec.gov and click on “Search for Company Filings” under “Filing & Forms
(EDGAR).”    Under “General-Purpose Searches,” click on “Companies & other filers.”
Then, in the “Enter your search information” box, type in “Ameriquest” next to “Company name” and click on the “Find Companies” button.
Step Two:
The page you are now looking at shows a long list of the names of securitized pools of
loans.   We know the mortgage was made on June 1, 2002.  Look for the entry titled
“AMERIQUEST MORT SEC INC ASS BK PAS THR CERTS SER 2002 2.”  The
document number is CIK 0001175125.  Click on that number.  We selected this entry
because it said 2002 on it and the loan in question was made in 2002.  There may be
several other pools of mortgage loans that Ameriquest securitized in 2002 but this is the
first one we come to on this list (when reviewed in late February 2007) so we will pull it
up.

Step Three:
Now you see a list of documents filed with the SEC that are related to this pool of loans.
Scroll down to the bottom and you will see a document titled “Prospectus.”  This is the
document that will likely be the one you want, assuming that the mortgage loan you are
concerned about is in this pool.  We can only make an educated guess, unless you know
the name of the securitized pool in advance (which is unlikely). Click on either “htm or text”
next to this document and the Prospectus will appear.  Now,
bookmark this document on your web browser, so you can come back to it easily in the future.

Step Four
Is this likely to be the document you want?  Scroll down to page S-2 and you will see a
Table of Contents.  Included in that is the “Pooling and Servicing Agreement” which
starts on page S-76.  Also, scroll down one more page, past the Table of Contents, and
you will see a “Summary of Prospectus Supplement.”  Certain important information is
listed there, including the cut-off and closing dates for loans that will be included in this
pool.  The closing date is June 7, 2002.  Based on this information, you can assume that
this document governs the responsibilities of the servicer of the mortgage loan in
question, unless that servicer tells you otherwise and can back it up with a reference to a
different agreement or pool.   Other important information listed in this Summary includes
the title of the pool, and the
identity of the servicer and trustee.  The servicing rights may have been sold since this
document was filed and the current servicer may be a different company but the trustee
(the legal holder of the mortgage) should be accurate.

Step Five:
Go the Pooling and Servicing Agreement to find what you need to know.  It should
describe how the servicer is paid and by how much, who keeps late and other fees, what
authority it has to modify the loan or engage in workouts with homeowners, and its
obligations to pass mortgage payments on to the trustee.
Some of the best information I get comes from intrepid consumer researchers out there who care enough to dig into these things.  Perhaps the most powerful thing about this and other online forums is the ability for consumers and advocates to share what they’ve found.  In my estimation, what this pro-se Defendant found is enough to blow the lid off his foreclosure case…..read on:

I was served Lis Pendens last month, (April 2010), naming the plaintiff  Deutsche Bank National Trust Company, As Trustee for HSI ASSETT SECURITIZATION CORPORATION TRUST 2006-OPT2 MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2006-OPT2

I looked into the records for that entity in the SEC EDGAR online database and discovered that the last annual report was filed in 2007, contemporaneously with a FORM 15 filing.That Form 15 filing claimed a standing under 15d-6 of the 1934 SEC regulations which exempts the entity of filing an annual report, whereby the number of claimed investors had fallen below the SEC registration and reporting threshold of 300 persons. ( To my understanding, the same Form 15 filing is also used when a registered, reporting, entity is dissolved.)
I then began looking at many other securitized trusts in the EDGAR database. Literally dozens and dozens of these securitized trusts have done exactly the same thing. he trust is established and appropriate SEC documents are filed for a period of time, usually 1 or 2 years. The trust then files a Form 15 claiming exemption of the obligation to file reports with the SEC under 15d-6

The paper trail for the Trust with the SEC thereby *ends* Many of these trusts have not filed anything with the SEC for years. Many as far back as 2005 and 2006

Some of the SEC Form 15d-6 filings disclosed as few as 15 or less investors. Bear in mind, these are for trusts that purportedly hold well over $1 BILLION in mortgages, and there are dozens and dozens of these trusts with a mere hand full of investors! I also noted that the “agent of record” of many of these trusts have changed many times, and are very infrequently “named”, but list only an address and phone number, (usually in New York). In several of the cases I’ve looked at in the EDGAR database, I actually called some of the phone number listed at 3:00am EST and got the voicemail of someone at a bank in N.Y. Note that the answering party was NEVER a bank listed as the Trustee, (as Deutsche Bank is in my case), or the trust “administrator” as listed in the PSA or any subsequent SEC filings.
I actually got the voicemail of some fellow at HSBC Bank who was the “anonymous” contact in my case! My point is this;

Has anyone actually verified that the securitized trusts claimed to be under the trusteeship of some of these banks still ACTUALLY EXIST?

We’ve been so focused on the NOTE and the fraudulent paper being slung about for assignment of those notes, and whether or not the “plaintiff” has standing to bring the foreclosure action, has anyone thought to see if the “plaintiff trust” is even still active or not? Were many of these trusts actually dissolved after payouts from credit default swaps and TARP funds and the actual investors now long gone? We have no records to show whether they are alive or dead. Most of these trusts haven’t filed anything with anyone in years as far as I can tell.

Certainly, as in my case, Deutsche Bank, (as Trustee), still exists, but can these plaintiff securitized trusts be made to *prove* they still exist?

What happens to a foreclosure case if the plaintiff entity,(the securitized trust, *not* the Trustee for it), no longer exists or cannot prove it exists?

IT’S TIME FOR ME TO GET BACK TO AN ISSUE THAT I HAVEN’T TALKED ABOUT FOR A WHILE AND IT IS THIS CAPACITY ISSUE…BECAUSE IT STRIKES AT THE HEART OF THESE CASES.  SIMPLY PUT, A TRUSTEE CANNOT MAINTAIN AN ACTION ON BEHALF OF A TRUST THAT DOESN’T EXIST.

 

Now with all the FRAUD happening.

How anyone can defend a bank today, I will never understand.  Considering that various fraud in all areas is coming out constantly that all the banks have committed for years/decades.

The banks have committed fraud and still do with MERS and foreclosures.  They have manipulated the metals/commodity/equity markets for years.  MF Global stole money directly out of people's accounts and then allowed JP Morgan to steal all the gold and silver in storage for customers and not one person is being charged or prosecuted for it.   What this means to me, is there is collusion involving the U.S. government with the fraud as all the agencies are covering it up.    That also means CFTC is in collusion with the banks for covering up the metals manipulation too. 

Now we have the LIBOR manipulation that has come out.  Which is showing how the banks manipulated the interest rate market for their benefit and hurt every one (which is literally everyone) who relies on the credit/banking system in one way or another.

The U.S government has looked the other way with all the fraud and manipulation.  All the elected officials have looked the other way, as they have been paid off to through campaign contributions.   The Federal Reserve is right in the middle of it all.  Considering the U.S. elected officials handed off our monetary policy to a privately owned bank (Federal Reserve) that means they have been allowing the manipulation of all credit at the detriment of the American people.

Now, believe it or not my biggest question here is.................... Can, We the People sue our Government and the Federal Reserve and all of our elected officials, for allowing the manipulation, participating in the manipulation and allowing a private bank to control the complete monetary policy of fraud for the country?  Can we Sue the Credit Card companies, banks and all entities involved in all the fraud they purposely committed against the people.  

When will people fully understand, we have a system that is completely rigged against the "regular" people and only benefits the insiders. government officials, corporations and banks?  Every single transaction is manipulated to steal from the people to benefit the few. 

Some may think it is silly and it is "out there" to want to sue all entities including the SEC, CFTC, elected officials, Fed Reserve (private bank) and all other private banks for all the fraud they have committed against the people.  The government agencies have not done their jobs and they are in reality in collusion with those who are committing the fraud upon the people.   Just look at the Madoff ponzi scheme.  The SEC knew about it but they looked the other way they let it continue.  The CFTC and all other Federal government agencies are looking the other way right now regarding the MF Global and JP Morgan stealing people's money directly out of their accounts.

Do you see that "We the People" do not have representation nor protection in any way shape or form from the corporations and banks that continually perpetrate FRAUD upon us?

It is time to demand the government does their job and we need to take action to stop the Fraud in every way.

Why not Sue the Federal Reserve?

Here is a great article about all the conflict of interest involving the Federal Reserve including the insider trading of LIBOR with the Federal Reserve and U.S. government being complacent.  

I know I have had credit cards from Citibank, a line of credit based on an investment property I owned in 2005 from Suntrust bank, which was based on the manipulated LIBOR rate.  Which both jumped up in interest at times because of the fraudulent LIBOR rates.

So.......  through action from RICO suits and others, we the people need to stop sitting on our butts and start taking non-violent but intellectual action and sue everyone involved.  It is only through mass action we can get the rigged system changed from our money being stolen in every which way (including pensions and IRA accounts).    We need to make our government accountable for them allowing all the fraud and looking the other way. 

Will lawyers be willing to take suits on against all involved?

Can you sue the U.S. Government?  
(much more is at link, a portion below:)

In general, the FTCA is intended to provide monetary compensation for injury, property loss, or death "caused by the negligent or wrongful act or omission of any employee of the Government." But this broad-sounding mandate is subject to a lot of fine print.
Although the limitations and exceptions are too numerous to review in this article, here are some general guidelines regarding the limitations on FTCA claims:

• Only federal employees can be sued under the FTCA, not independent contractors hired by the federal government (unless they are treated like employees).
• The negligent or wrongful conduct must have been done within the scope of the defendant's employment.
• In general, only claims of negligence -- as opposed to intentional misconduct -- are allowed (though some claims for intentional misconduct can be brought against certain federal law enforcement officers).
• The claim must be based on -- and permitted by -- the law of the state in which the misconduct occurred.

Despite these and numerous other limitations on FTCA lawsuits, the federal government still pays out millions of dollars each year to compensate FTCA claims. So if you think you may have a valid claim, it may be worth pursuing.
If you determine that you do have a valid FTCA claim, the next hurdle is to follow the prescribed steps for such claims, which include some strict time limits.

Matt Taibbi is interviewed by Eliot Spitzer on Viewpoint about LIBOR and why it is so important and how it is the center of the financial universe.

Dylan Ratigan of MSNBC talks about the Foreclosure Fraud with Bo Biden and hints he plans on doing lots more regarding the fraud, since he is leaving MSNBC

Dylan Ratigan on MSNBC is a rare breed on MSM. He has always exposed the truth about what is really going on and has called it like it is. He has ranted about how all the elected officials are owned by the banks and corporations previously. He has out right stated that the people will never get legislation for them, as it is always for the banks.

Dylan is leaving MSNBC and he had Bo Biden on about the Foreclosure Fraud that the banks are still committing. He says they have been ramping up the foreclosures starting last month. At the very end, he hints that he will be working on the Fraud intensely once he leaves MSNBC!

Thank you Dylan Ratigan for all you have done and all you have exposed over the last few years about the fraud of the banks and the government! 

Visit msnbc.com for breaking news, world news, and news about the economy

New York Attorney General - Schneiderman, Hires Prosecutor for Mortgage Fraud

Eric Schneiderman the New York Attorney General has hired a Prosecutor for the Mortgage Fraud there.


Remember Schneiderman is one of the only AGs that had not wanted to agree to the Obama settlement with the banks.   But he did in the end, along with the other hold out AGs, due to the states actually getting the money instead of the homeowners affected by the Mortgage Foreclosure Fraud.





Portions from article:

New York Attorney General Eric Schneiderman has hired a former federal prosecutor to help bring lawsuits over misconduct in the mortgage-backed securities market during the financial crisis.


The Obama administration formed the task force in January to probe fraud and abuse in the mortgage-backed securities market. Schneiderman is co-chairman of the group. So far, little activity has been made public and federal authorities have been criticized for not pouring enough resources into the effort.

He has now hired a prosecutor for the Mortgage Fraud.   There is no explanation of expectations for the prosecutor, but this is a step in the right direction.  Not one charge has been filed against the banks for all the fraud they have committed.   Maybe something will finally happen and people in Wall Street will be held accountable for the fraud.  But don't worry, I am not holding my breath for that.

Leaked Email reveals how much Fraud the Banks will commit to foreclose fraudulently on homeowners - Involves Deutsche Bank -Bank Of America -LPS

Lender Processing Service - LPS has been caught with their "fraud down."

This leaked email proves how much the banks and those who support them will go to commit fraud to foreclose on a homeowner.

They did not have the proper name as the foreclosing entity so they decided to go ahead with the foreclosure and then just "quit claim" the property after the fact to the correct bank that supposedly owned the loan (BOA).

This is why everyone needs to have an audit done on their loan. It is worth it, because it proves the fraud. I will say over and over again, to get one done.

Jesse at USMortgageauditors (info on top right side of blog) does audits on loans.  I will keep expressing this because your home can be saved from an audit.  The Fraud is revealed and Jesse has saved many homes from a fraudulent foreclosure.

The banks have proven over and over again they will commit felony frauds to foreclose, yet the government looks the other way.  If an individual even did one thing the banks constantly do they would be thrown in jail for the rest of their lives.

How is this justice that when these kinds of things come out, yet the judges don't throw the parties committing the fraud in jail?  How is it, that it is just part of the business of the banks and the judges only allow the homeowners relief - yet not throw the book at the banks?

It is about time for the bank employees and all the banks that commit the fraud against the courts be held accountable.  It is time for them to start going to jail for the forgeries of names and forgery of paperwork.

We need to demand that the laws be upheld against whatever entity commits them and who ever works for that entity that committed.

Start applying fraudulent law to ALL - not just the "regular" people!  Arrest those who commit fraud for the banks.  That would stop the fraud at the banks by the employees if they find out, they are susceptible to arrest for committing the fraud for the banks.    

Do Not Worry , be Happy about the AG's settlement of Foreclosure Fraud with the Banks! The AGs have now had the banks admit to foreclosing on people by fraud! We can defend ourselves in court even more!

I want to make sure people understand not to worry about the AG's settlement with the banks for all the foreclosure fraud.

This does not affect individuals for suing the banks for the foreclosure fraud and the fraud of their own loans.

In fact, this actually is good, because the banks have now admitted guilt by settling with the AGs.

But was is disturbing is the AGs signed the documents and settlement without it being fully written out.  So now, what more will the banks put in there that the AGs have already signed?  How could those who are suppose to be the top legal people of each state, sign a contract that was not yet written?  That is fraud in itself and that was committed by the AGs, if I completely read this article correctly on Zerohedge. 

I would like to say.  I have partnered (meaning.. to help people win against the foreclosure fraud, by getting info out) with someone (Jesse) who does mortgage forensic scrutinizing.    He has been traveling around the country testifying at foreclosure defense trials.  He has been winning the cases with the lawyer, as he has explained the mortgage fraud in the courtroom, where the judge can understand.


Jesse's site is USmortgageauditors.

I am going to be having him be the first ever guest post on this blog.  I feel what he has to say can help people every where.

I believe it is important that people now understand, it is up to all of us to stand up against the foreclosure fraud of the banks. 

Do not fear what the AGs did, embrace it, because now there has been a complete admission of guilt and that they have foreclosed on people fraudulently in the past.  This is a good thing!  In fact THANK YOU AGs, for having the banks now admit they have committed fraud of foreclosures!  You have now helped us fight the banks in court and their fraud by having them admit to fraud.

Understand, we the individuals can STILL STAND UP!  There was nothing in that agreement that stops everyone from taking the banks to court and revealing the fraud they have committed and still commit!

That is also why they will want to modify every loan, to make sure all the loans are fixed and their fraud is covered up.

DO NOT MODIFY YOUR LOAN! 

Jesse is putting together a guest post to help people understand the fraud in their mortgage papers and how to win it.  Also Jesse and I are talking about doing a weekly radio segment that would be a question and answer for people to call in about their loans and the fraud of it.

Jesse has just completed the forensic scrutinize/audit of my own mortgage and has come up with some very interesting information.

Also I know he has been finding out right fraud in many mortgages that is so outrageous, yet the banks are never criminally charged for the absolute lying proven fraud in the courtrooms.  

Latest Foreclosure Fraud News 11/14/11

Stop Foreclosure Fraud presents the following...

JIM FULLER, CLERK OF THE COURT, DUVAL COUNTY, FLORIDA vs. MORTGAGE ELECTRONIC REGISTRATION SYSTEMS, INC. (MERS), MERSCORP - 2011-11-11 14:37:51-05

IN THE CIRCUIT COURT, FOURTH JUDICIAL CIRCUIT, IN AND FOR DUVAL COUNTY, FLORIDA JIM FULLER, CLERK OF THE CIRCUIT COURT, DUVAL COUNTY, FLORIDA, in his official capacity and on behalf of all those similarly situated, Plaintiff, vs. MORTGAGE ELECTRONIC REGISTRATION SYSTEMS, INC., a Delaware corporation; and MERSCORP, INC., a Delaware Corporation Defendants. Scribd iPaper(72570476, 'key-2j0q77ii32icyuhv6dnf', [...]

Mortgagors, BEWARE! Ocwen Set to Buy $15 Billion in MSRs from JPMorgan - 2011-11-11 18:53:13-05

Something strange is going on here and it looks like a complete set up… Don’t ask me why it just seems like risky business. Wanna Bet? The M Report- JPMorgan Chase & Co. has a buyer for $15 billion in mortgage servicing rights from the financial institution, with the announcement that Ocwen Financial Corp. would [...]

****Ocwen just took over Litton Loan (Goldman Sach's loan servicing)  Why are they taking over the top Wall Street bank servicing companies?  What do they know we do not?******

CITIZEN RESEARCHERS: PLEASE HELP WRITE THIS ARTICLE - 2011-11-11 19:05:58-05

WHY INVESTORS, HOMEOWNERS AND THE ECONOMY BENEFIT FROM PRINCIPAL WRITE-DOWNS Principal write-downs have been condemned as morally hazardous. Failure to include such write-downs may well sink any chances of an economic recovery. To demonstrate the value of write-downs, this research documents the history of homes now on the market due to foreclosure, and the losses [...]

Bondi has wrong priority - 2011-11-12 09:24:26-05

You should know by now that no one and I mean no one is coming to the borrowers rescue, even after all the fraud, after all the robo-signing… No one has tried to put a stop to this fraud. A simple halt to investigate and an examination of the documents would easily demonstrate the massive [...]

Foreclosed Homeowners Could Receive Small Checks Under Big Bank Foreclosure Fraud Settlement - 2011-11-12 10:10:42-05

HuffPO- The deal as currently stands would extract $17 billion worth of mortgage modifications and principal reduction for struggling borrowers, among other things, according to a source familiar with the situation. Another $3 billion would be set aside to boost refinancing. And from $5 billion paid directly to state and federal governments, foreclosure victims abused [...]

ROCKWELL P. LUDDEN, THE MERS MORTGAGE IN MASSACHUSETTS: GENIUS, SHELL GAME, OR INVITATION TO FRAUD? - 2011-11-12 11:39:18-05

BY: ROCKWELL. P. LUDDEN But Mousie, thou art no thy lane, In proving foresight may be vain: The best-laid schemes o’ mice an’ men ……………Gang aft agley, An’ lea’e us nought but grief an’ pain, ……………For promis’d joy! To a Mouse, Robert Burns MERS, the Mortgage Electronic Registration Systems, was the creation of a mortgage [...]

U.S. Bank calls for court to hear MERS class-action suit - 2011-11-13 22:10:41-05

Highly recommend that if anyone wants to go after MERS, you first read STATE OF DELAWARE v. MERSCORP, Mortgage Electronic Registration Systems, Inc., (MERS) to get familiar with some specifics.    Observer- Reporter U.S. Bank National Association has asked U.S. District Court to hear a class-action suit, filed by Washington County on behalf of all counties [...]

California refuses to accept Obama’s banking sellout, or just holding out - 2011-11-13 22:25:05-05

I have mixed emotions on this one because I am seeing California teeter totter, not sure of the outcome. As Matt Stoller wrote about AG Kamala Harris Network: she shares them with President Obama, who endorsed her late in 2010 for the AG office. Her brother-in-law, Tony West, was key fundraiser for Obama in California, [...]

Appeals Judge Roasts Special Judge Sandra Taylor — STATE JUDGE SAYS THAT BANK LAWYER WAS UNETHICAL IN FORECLOSURE CASE— WITH TAYLOR’S “COMPLICITY” - 2011-11-13 22:27:31-05

EX PARTE COMMUNICATION, TOO KWTNBLUE- It was just a routine foreclosure case. Nothing special. Just another poor smuck losing his house. The pupose of the hearing was to determine how much the smuck was going to have to pay the bank in addition to giving up his house. In legalese, that’s a deficiency judgement. The [...]

Whistleblower: Despite payments, a foreclosure threat - 2011-11-13 23:07:35-05

Mark my words, Someone is going to die from all the frustration these banks are causing and they are going to regret they ever fraudulently foreclosed on that person. If it hasn’t occurred already. There are very ill people out there and this is going to cause a severe tragedy, for an unavoidable circumstance. A [...]

County clerks warn that private home loan registry may cloud titles to thousands of Central Texas homes - 2011-11-13 23:45:16-05

We know for a fact and the government knows for a fact that if MERS is on your documents, a cloud also exists. Their “quick fix” might come as simple as accepting a modification, principal reduction or a refi, to cover this all up and creating new paper. If any of your new docs have [...]

Latest News and Headlines of the Foreclosure FRAUD! for 11/10/11

Stop Foreclosure Fraud presents the following...

Rep. Joe Walsh yells at his constituents “Don’t Blame The Banks” - 2011-11-09 21:26:14-05

by tmabomb on Nov 9, 2011 Tea Party Republican Rep. Joe Walsh held a townhall at Uno Bar and Grill in Gurnee, Illinois, over the weekend. When the topic of banks and the collapse of the economy arose, the congressman flipped out. “QUIET FOR A MINUTE! OR I’M GOING TO ASK YOU TO LEAVE. YOU [...]

Policy Makers: Bank and Wall Street Greed, Not “Irresponsible Homeowners”, Caused Our Crisis - 2011-11-09 23:03:17-05

Another mind-blowing article by the one and only Abigail C. Field - Somehow the banking industry has convinced much of the public and most of our political leaders that our housing and foreclosure crisis is the fault of irresponsible borrowers despite the overwhelming evidence that greedy bankers are to blame. Since good policy can’t happen [...]

SEC, in hot seat over Citi settlement, also seeks to strike accord with Fannie, Freddie - 2011-11-09 23:04:46-05

It won’t be fun for Citigroup Inc. and the Securities and Exchange Commission to defend their proposed $285 million settlement at a Wednesday court hearing ordered by a very skeptical federal judge. WSJ- U.S. District Judge Jed S. Rakoff could kill the deal if he doesn’t like what he hears. But coming up with the [...]

Elizabeth Warren: U.S. Business ‘Rigged To Work For The Big Guys’ - 2011-11-09 23:05:37-05

If you haven’t already fallen for Elizabeth, what are you waiting for? She has your best interest at heart and Join us: Help Elizabeth Warren win her Senate race! HuffPo- Elizabeth Warren spoke out today about the unfair advantage she says big companies have over small businesses in America, a playing field she declared was [...]

FREMONT v. DAVILAR | NYSC Vacates Judgment Of Foreclosure – Pro SE SLAMS Fremont, Trying To Foreclose After It Went Out Of Biz Thanks To MERS - 2011-11-09 23:06:32-05

FREMONT INVESTMENT & LOAN, Plaintiff, -against- ANDREA A. DAVILAR, et al. Defendants. EXCERPT: In this matter, it is the contention of Defendant HSBC BANK USA, as trustee was the holder of the note from the time the action was commenced and that Fremont has misrepresented to this court its ownership status and its standing to [...]

******PAY CLOSE ATTENTION TO THE ABOVE******  Fremont went out of business a few years ago, YET papers are still filed in their name for foreclosure!  This ruling shows NO rights for a company that is not in business to foreclose!  STAND UP to the Foreclosure Fraud of the banks!  Do NOT get foreclosed on - FIGHT a Foreclosure!

Nevada makes ILLEGAL Bank Foreclosures a Felony! Philly Paper "Betrayal of Justice - Govt. looking the other way on Bank Fraud"!

Banks have to PROVE in all ways they own the loan in Nevada now!  If they ILLEGALLY or Fraudulently foreclose on a home it is a FELONY and they can be put in jail!

Every single state needs to put this on the books!  Good for Nevada! 

 Article:

Nevada has set a precedent in which other states may follow by making it a felony if repossession of a home is illegal. Bankers better beware because now they can face jail time and a felony conviction on their records. This new law was in response to the thousands of complaints from homeowners to state lawmakers about the fact their homes were being illegally repossesses by banks without proof of ownership.


Nevada has led the U.S. in home foreclosures for six straight years and with so many complaints state lawmakers could no longer look the other way. These illegal robo-signing tactics have nearly crippled the housing market in Nevada. Homeowners poured in tens of thousands of these complaints which got their voice heard and action taken on illegal foreclosures.

The Nevada law makes it a felony for a mortgage servicer or trustee of a mortgage to make false representations concerning a title such as claiming that they are an executive of a bank or mortgage servicer, which was the case in at least hundreds of thousands, perhaps millions of robo-signings. A $5,000 fine will also be assessed if fraud is found. The law requires mortgage companies to provide a new affidavit with the amount owed on the loan, the person who is in possession of the note and the individual with the authority to foreclose on the property.


Some 26 U.S. states conduct foreclosures through the courts, but the new law does not make Nevada a judicial foreclosure state. Foreclosures have been delayed in many cases since the law went into effect Oct. 1 st.

Cathe Cole, vice president of default for Trustee Corps., and foreclosure counsel in Nevada for Freddie Mac said as long as trustees can show a clear chain of title, including the named servicer of the mortgage there would be nothing for companies carrying out foreclosures to fear. “They just want to make sure we’re doing things correctly,” said Cole.


Nevada’s state attorney general is attempting to halt illegal foreclosure practices such as robo-signing with the new law, which they believe are still taking place. Proof of ownership title is critical to the chain of title. If the proof has been lost or never forwarded to a mortgage servicing company the foreclosing party may have no right to formally foreclose and take the real estate.


The Nevada law could provide an example for other states to follow implementing the new law. Homeowners throughout the U.S. have filed lawsuits against mortgage servicing companies alleging fraud in foreclosure proceedings used to formally repossess their homes after Mortgage Electronic Registration Systems (MERS) reportedly failed to provide the physical documents on foreclosures their electronic system was used for to provide foreclosures through. MERS ordered mortgage servicers and banks to halt foreclosures in its name earlier this year.

A paper has "Betrayal of Justice" today about the Bank Fraud.

Portions:

There is a cancer in American government. It is aggressive and spreading.

The cancer was first diagnosed by the FBI in 2004, when it warned of “rampant” mortgage fraud. But the warning was ignored. No action was taken and the cancer spread.

Now, after a congressional investigation and the work of a few courageous journalists, we know the extent of the fraud. One of those journalists, Greg Hunter summarized it.

“There was real estate document fraud when the original Promissory Notes and loan documents were ‘lost.’ The Promissory Notes were required to create tens of thousands of mortgage-backed securities (MBS). No ‘note,’ no security. That is security fraud. No security means the special IRS tax treatments for the MBS’s were fraudulently obtained. That is IRS tax fraud. Because there were no documents, the rating agencies fraudulently made up triple ‘A’ ratings for the securities. When the whole mess blew up, big banks hired foreclosure mill law firms to create forged documents. That phony paperwork was and is being used to wrongfully remove homeowners from their property. That is foreclosure fraud.”

In exchange for paying some billions in fines, those who committed the fraud that has cost the middle class trillions of lost wealth and destroyed lives and futures, will get immunity from criminal prosecution and any future claims for damages.

Call it the first class action sell out.

But now SIX of the 50 state attorneys general are opposing this betrayal of justice: New York, Delaware, Kentucky, Minnesota, Nevada and California. They are demanding a full investigation and criminal prosecutions where warranted.

CONTACT YOUR ATTORNEY GENERAL - TELL THEM TO JOIN THE SIX AGs WHO ARE STANDING UP FOR THE LAW!  THEY NEED TO STAND UP FOR THE LAW TOO! 

http://consumerfraudreporting.org/stateattorneygenerallist.php

Game is up for the banks? All the banks are suing each other over Mortgage Fraud! Classic!

Yet another Wall Street bank (Warren Buffet's bank this time) Wells Fargo is suing JP Morgan due to mortgage fraud and misrepresentation of mortgages.

This is just getting so good. Every bank seems to be suing another over the mortgage fraud. Yet MSM is silent about it all. They act as if all the mortgage irregularities are passed over and fixed.

The amount of foreclosures filed this last month skyrocketed, which shows the banks are trying as fast as they can to foreclose on people.

I sincerely hope those who are being foreclosed on are looking on the internet and finding fraud is alive and well and it is not over with and they fight their foreclosures. Just imagine if everyone who is being foreclosed on, demanded for the banks to show and prove they have ownership and actually have a right to foreclose.

I hope people are paying attention to all the suits going on between the government and Wall Street. Here is where FHFA is suing 17 banks over the fraud of mortgages.

I can not express enough, for those interested in staying on top of what is happening in the Foreclosure Fraud around the U.S., to go to these two sites:

http://4closurefraud.org/

This site - enables you to sign up for daily articles and the latest information of what is happening with the Foreclosure Fraud - I HIGHLY RECOMMEND SIGNING UP - it is Free and you get an email every day, with the latest headlines.
http://stopforeclosurefraud.com/

Besides that, I also have Google set up for all headlines of Foreclosure Fraud, Court Rulings Mers, bank fraud to come to me daily in emails.

PLEASE IF YOU KNOW OF ANYONE WHO HAS HAD FORECLOSURE PAPERS FILED AGAINST THEM, HAVE THEM INFORM THEMSELVES ON THE FRAUD AND FOR THEM TO FIGHT THE FORECLOSURE!  THE ONLY WAY THE FRAUD WILL STOP IS IF EVERYONE SAYS "PROVE YOU HAVE OWNERSHIP AND HAVE A RIGHT TO FORECLOSE!"

Wall Street created the fraud in the beginning and now due to it the banks are all going after each other.

At least a few more Attorney Generals have now sided with the NY AG and do not agree with settling with the banks and are asking for a deeper investigation into the fraud.  Contact your AG and ask if they are going to join the NY AG and not going to settle with the banks and let their fraud be legalized?  Ask them, "Why aren't they siding with the law?"  "Why would they change the law to make fraud legal for the banks?"

60 Minutes Expose on Fraudclosure! Banks creating FAKE documents to Foreclose on People

Update - 8/8/11- I am bumping this back up, because 60 minutes replayed it on 8/7/11!
THANK YOU 60 MINUTES!

All in all for a MSM channel this was not a bad expose on the Foreclosure Fraud of banks. The government is now worried about all the people telling the banks to prove they own the loans and what that is going to cause the economy to do.  One thing I did notice, they did not say the word "MERS" once in the whole segment.  But at least they did something, it is a start.

I sincerely hope millions watched this.

Bank of America to get carte blanc approval of foreclosure fraud and future lawsuits halted by Government?

It seems Bank of America is pushing the government for a resolution and a stop to all the lawsuits against them for foreclosure fraud.  Is the government working on a way to sanctify all the fraud of the banks and make foreclosure lawsuits impossible?

Something is happening behind the scene and in the back rooms of the government in trying to work out a deal for the banks to be protected against the people for all the illegal fraud of foreclosures.

Zerohedge has this article up today. 

Bank of America Proposes To Cut Outstanding Mortgages In Exchange For Broad Legal Settlement Deal

From how it reads, there looks to be a deal being worked out where Bank of America will lower the principle on all the mortgages it services and it has directly.

The spin from the government and MSM will no doubt be "This is great for the people" in any deal worked out.  But don't be fooled.  It will be "Great for the banks" it will be protecting the banks from the people who have been exposing the fraud and standing up to the fraud in courts.

It is amazing how the government is working to protect the banks in anyway they can, even when the banks have stolen property, committed crimes and have out right defrauded people.  If you or I ever defrauded anyone else we would be thrown in jail without the government working to make our fraud legal.  

Portion of the article:

The bank is "discussing the proposal with state and federal officials who are prodding the country's biggest banks toward a multibillion-dollar deal to atone for foreclosure errors…As the discussions dragged on past the mid-June target set by U.S. officials, Bank of America began pressing officials for a speedy resolution, and it put forward its principal reduction proposal in one-on-one talks with state and federal officials. Meanwhile, negotiations continue with the banks as a group…Bank of America has told officials it wants protection against future litigation relating to mortgage servicing, said people familiar with the situation. In exchange it is willing to agree to a program in which troubled borrowers would have to prove financial distress to qualify for a writedown of the principal owed on their mortgage…The principal amount would have to be $1 million or less in certain geographic areas, one of these people said, and a reduction would apply to the bank's own mortgages and those its services for private investors

 All you have to do, is read between the lines in this article.  Bank of America is pushing for a resolution, due to many many more people waking up to the fact of their fraud and educating themselves. They want a stop to it immediately.  The courts have been siding with the people in many cases and some states even stopped any Bank of America foreclosures at various times.  Bank of America wants to be protected from "the people" who have become educated to their fraud and know all foreclosures by them are completely Fraud and Illegal.

No matter how much I have tried, I do understand "We the People" are not at all listened to, "We the People's Voice" is not heard and has been silenced by the elected officials.  They have their masters who they hear and do the bidding of.   So, We the People have to keep trying in intellectual ways of stopping the fraud and holding banks accountable.

I hope more and more people begin court proceedings against the Fraud of the banks around the country before it becomes sanctified by the government. 

How will the government sanctify the fraud?  That is the question.  How are they going to rewrite the fact the banks committed fraud upon their investors and the people with the fraud mortgages?  

 

NY Appellate Court - MERS NO RIGHTS TO FORECLOSE OR ASSIGN A MORTGAGE! HUGE HUGE RULING!

N.Y APPELLATE COURT - MERS NO RIGHTS TO FORECLOSE OR ASSIGN A MORTGAGE!

HUGE HUGE RULING FOR ALL MERS HOMEOWNERS WHICH LAWYERS EVERYWHERE CAN USE FOR A FORECLOSURE DEFENSE!

Go to link at 4closurefraud to read the full ruling!

Appeals Court Clarifies MERS Role in Foreclosures

The ubiquitous Mortgage Electronic Registration Systems, nominal holder of millions of mortgages, does not have the right to foreclose on a mortgage in default or assign that right to anyone else if it does not hold the underlying promissory note, the Appellate Division, Second Department, ruled Friday. “This Court is mindful of the impact that this decision may have on the mortgage industry in New York, and perhaps the nation,” Justice John M. Leventhal wrote for a unanimous panel in Bank of New York v. Silverberg, 17464/08. “Nonetheless, the law must not yield to expediency and the convenience of lending institutions. Proper procedures must be followed to ensure the reliability of the chain of ownership, to secure the dependable transfer of property, and to assure the enforcement of the rules that govern real property.” The opinion noted that MERS is involved in about 60 percent of the mortgages originated in the United States.

From the ruling…

(Emphasis added by 4F)

Decided on June 7, 2011

SUPREME COURT OF THE STATE OF NEW YORK
APPELLATE DIVISION : SECOND JUDICIAL DEPARTMENT

ANITA R. FLORIO, J.P.
THOMAS A. DICKERSON
JOHN M. LEVENTHAL
ARIEL E. BELEN, JJ.
2010-00131
(Index No. 17464-08)

[*1]Bank of New York, etc., respondent,
v
Stephen Silverberg, et al., appellants, et al., defendants.

LEVENTHAL, J.This matter involves the enforcement of the rules that govern real property and whether such rules should be bent to accommodate a system that has taken on a life of its own. The issue presented on this appeal is whether a party has standing to commence a foreclosure action when that party’s assignor—in this case, Mortgage Electronic Registration Systems, Inc. (hereinafter MERS) —was listed in the underlying mortgage instruments as a nominee and mortgagee for the purpose of recording, but was never the actual holder or assignee of the underlying notes. We answer this question in the negative.

…

On appeal, the defendants argue that the plaintiff lacks standing to sue because it did not own the notes and mortgages at the time it commenced the foreclosure action. Specifically, the defendants contend that neither MERS nor Countrywide ever transferred or endorsed the notes described in the consolidation agreement to the plaintiff, as required by the Uniform Commercial Code. Moreover, the defendants assert that the mortgages were never properly assigned to the plaintiff because MERS, as nominee for Countrywide, did not have the authority to effectuate an assignment of the mortgages. The defendants further assert that the mortgages and notes were bifurcated, rendering the mortgages unenforceable and foreclosure impossible, and that because of such bifurcation, MERS never had an assignable interest in the notes. The defendants also contend [*3]that the Supreme Court erred in considering the corrected assignment of mortgage because it was not authenticated by someone with personal knowledge of how and when it was created, and was improperly submitted in opposition to the motion.

…

Here, the consolidation agreement purported to merge the two prior notes and mortgages into one loan obligation. Countrywide, as noted above, was not a party to the consolidation agreement. ” Either a written assignment of the underlying note or the physical delivery of the note prior to the commencement of the foreclosure action is sufficient to transfer the obligation, and the mortgage passes with the debt as an inseparable incident’”

…

Therefore, assuming that the consolidation agreement transformed MERS into a mortgagee for the purpose of recording—even though it never loaned any money, never had a right to receive payment of the loan, and never had a right to foreclose on the property upon a default in payment—the consolidation agreement did not give MERS title to the note, nor does the record show that the note was physically delivered to MERS. Indeed, the consolidation agreement defines “Note Holder,” rather than the mortgagee, as the “Lender or anyone who succeeds to Lender’s right under the Agreement and who is entitled to receive the payments under the Agreement.” Hence, the plaintiff, which merely stepped into the shoes of MERS, its assignor, and gained only that to which its assignor was entitled (see Matter of International Ribbon Mills [Arjan Ribbons], 36 NY2d 121, 126; see also UCC 3-201 ["(t)ransfer of an instrument vests in the transferee such rights as the transferor has therein"]), did not acquire the power to foreclose by way of the corrected assignment.

…

In sum, because MERS was never the lawful holder or assignee of the notes described and identified in the consolidation agreement, the corrected assignment of mortgage is a nullity, and MERS was without authority to assign the power to foreclose to the plaintiff. Consequently, the plaintiff failed to show that it had standing to foreclose. MERS purportedly holds approximately 60 million mortgage loans (see Michael Powell & Gretchen Morgenson, MERS? It May Have Swallowed Your Loan, New York Times, March 5, 2011), and is involved in the origination of approximately 60% of all mortgage loans in the United States (see Peterson at 1362; Kate Berry, Foreclosures Turn Up Heat on MERS, Am. [*6]Banker, July 10, 2007, at 1). This Court is mindful of the impact that this decision may have on the mortgage industry in New York, and perhaps the nation. Nonetheless, the law must not yield to expediency and the convenience of lending institutions. Proper procedures must be followed to ensure the reliability of the chain of ownership, to secure the dependable transfer of property, and to assure the enforcement of the rules that govern real property. Accordingly, the Supreme Court should have granted the defendants’ motion pursuant to CPLR 3211(a) (3) to dismiss the complaint insofar as asserted against them for lack of standing. Thus, the order is reversed, on the law, and the motion of the defendants Stephen Silverberg and Fredrica Silverberg pursuant to CPLR 3211(a)(3) to dismiss the complaint insofar as asserted against them for lack of standing is granted.

FLORIO, J.P., DICKERSON, and BELEN, JJ., concur.

ORDERED that the order is reversed, on the law, with costs, and the motion of the defendants Stephen Silverberg and Fredrica Silverberg pursuant to CPLR 3211(a)(3) to dismiss the complaint insofar as asserted against them for lack of standing is granted.