WSJ - 40 Attorney Generals are Coming out on Weds. 10/13, announcing a JOINT investigation into MERS Foreclosure FRAUD! The paper Spins it has just "paperwork problems" as they ALL do!

The Wall Street Journal has an article out about 40 Attorney Generals will be announcing a Joint Investigation into MERS foreclosure FRAUD on Weds. Oct. 13th. 


The article spins it as simply paperwork "irregularities" as all the MSM does.  The imply the investigation is into the paperwork problems and those will get straightened out.  They ALWAYS Quote the Banks in the articles, here is what they said in this one:

The banks say the document problems are technical—largely the result of papers approved by so-called robo-signers with little review—and don't reflect substantive problems with foreclosures. Still, they have drawn criticism from consumer advocates and state and federal lawmakers.

UUHH....... It is SO MUCH MORE than Paperwork "irregularities"!  It is there the fact there is NO Ownership of the loans, MERS separates the title and deed of property.  Because of NO ownership the servicers are the ones foreclosing on people.  

Now with the article linked - they have the above inserted information THEN the Next two paragraphs are this:

"I think the mortgage-servicing firms need to understand that they face real exposure now, and they would be well advised to take this very seriously, to clean this up by doing loan workouts to keep people in their homes, which up till now they've just paid lip-service to," said Ohio Attorney General Richard Cordray. 

Some in Congress have called for a moratorium on all foreclosures until the documentation issue is resolved, though senior Administration officials Monday again declined to endorse that idea. Servicers that have lied to courts by filing incorrect paperwork "need to suffer the consequences for their irresponsible actions," said Shaun Donovan, the Secretary of the U.S. Department of Housing and Urban Development. But "where we have not found problems with particular servicers…we do have some risk of going too far."

Are you catching that?  The article goes from Discussing Ownership of Loans and paperwork problems TO SERVICERS!  What the article DOES NOT SAY - is SERVICERS HAVE NO RIGHT TO FORECLOSE!  Yet, they Imply Servicers DO have a Right!  Why did they switch to servicers of loans in the article?  So those who are not that familiar with MERS will think servicers do have the control to foreclose on property?

 I have NO DOUBT Servicers WILL BE Calling people saying "We will modify your loan, though you are behind", to REDO the paperwork.  DO NOT MODIFY, NOR REFINANCE RIGHT NOW!  Do not Let them Change your MERS Loan from how it stands right now!

**** Today Show is doing a Segment about the Attorney Generals investigating MERS right now - 7:17am 12th of Oct.***** They are spinning it as robo signing problem Only - also implies stopping of foreclosures would be BAD******

White House has Known about Mortgage Servicer Fraud, Did Nothing - Looked the other way! This Washington Post Article, touches a Little on the TRUTH of the MERS Foreclosure Fraud!

This article from Washington Post comes closest to the TRUTH of the MERS FORECLOSURE FRAUD of any MSM article so far of what is happening.  They Say the White House had Been WARNED about MORTGAGE SERVICER FRAUD/PROBLEMS! 

Did you catch that????  MORTGAGE SERVICER PROBLEMS!  Right there SAYS IT ALL!  MSM articles have been only saying Paperwork "irregularities".  But what they don't say is those irregularities are because the servicers are trying to cover up the Fraud of MERS foreclosures.

Small Portion of Article:

Consumer advocates and lawyers warned federal officials in recent years that the U.S. foreclosure system was designed to seize people's homes as fast as possible, often without regard to the rights of homeowners. 

In recent days, amid reports that major lenders have used improper procedures and fraudulent paperwork to seize properties, some Obama administration officials have acknowledged they had been aware of flaws in how the mortgage industry pursues foreclosures. 

But the officials said they could take only limited action to address the danger. In part, this was because they wanted lenders' help carrying out federal programs to modify mortgages that had fallen into default or were poised to do so. 

But government officials were told repeatedly that the mortgage servicing industry was deeply troubled, according to administration officials, consumer advocates, housing lawyers and congressional aides.

"Have we talked to them about servicer incompetence? Repeatedly. Have we talked to them how the servicer system is broken? Yes," said Ira Rheingold, executive director of the National Association of Consumer Advocates. "Have we talked to them about the costly stream of errors made by servicers? Yes."

MERS Tried Quiet Title - Didn't Work - WAY FOR ALL TO FIGHT MERS! Debt Still Valid - BUT NOT AGAINST HOME!

MERS tried to Quiet Title. In so doing they paved the way for millions of homeowners to sue MERS to quiet title. 

Here is yet another way to fight MERS - besides the fact the servicers are the ones trying to foreclose, of which they CAN NOT!

9.09.10 NY MERS NO AUTHORIY DISMISSED

MERS tried to Quiet Title. In so doing they paved the way for millions of homeowners to sue MERS to quiet title. The net result is that the encumbrance is invalid. That means the debt, the obligation, MIGHT exist, but it is NOT secured by the home. I’d say I told you so, but that would be immature.

All of that is important but Judge Jeffrey Arlen Spinner went a lot further and made his mark on the issue of bogus affidavits that say nothing but which are used by foreclosure mill attorneys who spout off about what the affidavit says or what it proves. Judge Spinner flatly says the affidavit would be insufficient even if MERS had an interest, which it does not. He clearly states the law which is valid not only in New York, but EVERY state and federal jurisidiction, but which has been ignored by a majority of judges until now:

To establish a claim of lien by a lost mortgage there must be certain evidence (e.s.) demonstrating that the mortgage was properly executed with all the formalities required by law and proof of the contents (e.s.) of such instrument. … Here Burnett’s affidavit simply states that the original mortgage is not in Deutsch Bank’s files, and that he is advised (e.s.) that the title company is out of business. Burnett gives no specifics as to what efforts were made to locate the lost mortgage…. More importantly, there is no affidavit from MLN by an individual with personal knowledge of the facts that the complete file concerning this mortgage was transferred to Deutsch Bank and that the copy of the mortgage submitted to the court is an authentic copy of Torr’s Mortgage.” (e.s.)

EDITOR’S NOTE: The importance of this decision and its citations cannot be over-stated. Now we are getting down to the nub of it. It isn’t enough for the  foreclosure lawyer to make empty allegations contained nowhere in pleadings, affidavit or proof. The foreclosure lawyer is seeking affirmative relief — enforcement of the note and sale of the property. If he can’t plead the case in good faith then he doesn’t belong in court. And if he does plead the case he must prove it within the boundaries of ordinary rules of evidence. A competent witness must exist who is wiling to testify under oath and who actually appears to do so. They musts possess PERSONAL knowledge (not what someone told them) of the facts about which they are going to testify. Business records exceptions are very restrictive as they prevent the other side from cross examining a live witness (a basic constitutional right of due process).

• “Trust me” is not a substitute for real evidence.
  
• If they want to prove the obligation, they need evidence.
  
• If they want to prove a default, they need evidence,
  
• if they want to prove the note is evidence of the obligation, they must prove that assertion with evidence that the note is the whole deal (which is NEVER the case in a securitized loan).
  
• If they want to prove a lost note they need evidence that the note was in existence, when it was in existence, how it came into existence, and what happened to it — not just say we had it, but now we don’t.
  
• And watch out for those “original notes.” Many of them are fabricated using simple software and a color printer. If there are no impressions on the back of the page, even the note they present is probably NOT the original and is probably a fabrication printed off a laser or dot matrix printer. Close examination will show even a novice the truth of this statement.

MUST WATCH - Secrets of Mortgage Servicers - They WANT To Foreclose. Servicer Whistleblower, got in trouble stopping foreclosure!

MUST WATCH! Whistleblower saying Servicers WANT to Foreclose - that is the way they are making the money!  She got in trouble for stopping a foreclosure, when people paid!





Gretchen Morgenson, Pulitzer Prize winning New York Times writer, about Mortgage Servicer Fraud