FRAUD STOPPERS PMA Mortgage Foreclosure Defense Blog Update May 16, 2017

 

From THE PAPER CHASE, Pages 50-51, Adam Levitin. “Even in cases in which there is not a preexisting junior mortgage on the same property, the depositor lapse in MERS’s common-agency system raises questions about perfection in the hands of the trustee, meaning whether the trustee’s mortgage will have priority over competing interests in the mortgaged property. Does the common agency spring again when the mortgage is transferred to the trust?

Or is a new recording required? There is no clear answer to this, but securitization industry practice has not taken MERS common-agency structure seriously, in part because doing so would increase operating burdens and costs.

Sham Agency. MERS’s use of corporate signing officers that are actually employees of MERS’s members arguably indicates that MERS’s entire common-agency structure is a sham and that there is not in fact any real agency relationship, but rather simply principals dealing directly with each other.

MERS exercises no control over the corporate signing officers. MERS’s corporate signing officers are not meaningfully acting on MERS’s behalf, as they receive and take no direction from MERS, but instead are acting on behalf of their actual employers. Indeed, as MERS itself notes, “a certifying or signing officer is authorized to act on MERS’s behalf only with respect to loans and mortgages registered in the MERS® System by the Member for which the certifying or signing officer is an officer.”

This indicates that the entire use of common agency by MERS is in fact a sham that courts might disregard if properly challenged, with the result that MERS mortgages would be unperfected.” Read More

 

“Ultimately the MERS business model cannot work and should not work and needs to be changed.” Ira Rheingold

“Upwards of 70 million mortgages are legally void due to securitization fail, and broken chains of title issues.” FRAUD STOPPERS

“A mortgage can be enforced only by a person who can enforce the underlying debt: a mortgage is but incidental to the promissory note.” Adam Levitin

“I cannot decide for you the moral obligations you should pursue; but if a wrong has been committed against you, you have a duty to correct it.” Dave Krieger

“You have the duty as an American property owner to correct it. Filing a lawsuit (in my book) reflects one’s personal responsibility.” Dave Krieger

“Our primary focus is helping you get clear and marketable title by arguing the security provisions of the mortgage is unenforceable as a matter of law.” FRAUD STOPPERS

“We have a proven way to help you cancel secured and unsecured debt obligations through strategic litigation.” FRAUD STOPPERS

 

Recent Blog Stories:

Massachusetts sues Ocwen for “abusive” mortgage servicing practices

by Fraud Stoppers Admin | May 3, 2017 | Foreclosure Defense News, Tactics, and Tips | 0 Comments

Massachusetts sues Ocwen for “abusive” mortgage servicing practices Ocwen fought back against Massachusetts’ regulations, asking a court to restrain the state’s cease and desist order because it would “cause significant harm” to its customers in the state. But, the…

read more

 

How the FHA May Impact the Supreme Court Foreclosure Ruling

by Fraud Stoppers Admin | May 4, 2017 | Foreclosure Defense News, Tactics, and Tips | 0 Comments

How the FHA May Impact the Supreme Court Foreclosure Ruling In a 5-3 decision on Monday, the U.S. Supreme Court determined that cities can sue banks over lost tax revenue on foreclosed properties from urban blight. Law360 reported that Miami has the standing to sue…

read more

 

Maria Bartko charged with running a $1.4 million mortgage fraud scheme turns government witness

by Fraud Stoppers Admin | May 5, 2017 | Foreclosure Defense News, Tactics, and Tips | 0 Comments

Co-Defendant Likely To Testify Against Ill. Judge, Feds Say By Diana Novak Jones Law360, Chicago (May 4, 2017, 5:10 PM EDT) — The co-defendant of an Illinois state judge charged with running a $1.4 million mortgage fraud scheme is cooperating with the government…

read more

 

Chinese group becomes biggest shareholder of Deutsche Bank as investors revolt

by Fraud Stoppers Admin | May 6, 2017 | Foreclosure Defense News, Tactics, and Tips | 0 Comments

Chinese group becomes biggest shareholder of Deutsche Bank as investors revolt Conglomerate HNA has upped its stake in the bank to 9.92 percent as a result of a voting rights announcement and share package worth £2.8billion (€3.4bn). The Chinese have replaced the…

read more

 

Judge Skewers Wells Fargo at Hearing on Phony-Accounts Scandal

by Fraud Stoppers Admin | May 6, 2017 | Foreclosure Defense News, Tactics, and Tips | 0 Comments

Judge Skewers Wells Fargo at Hearing on Phony-Accounts Scandal SAN FRANCISCO (CN) — A federal judge Thursday appeared skeptical of Wells Fargo’s claim that its board of directors was unaware of the scope of the phony accounts scandal that already has cost the bank…

read more

 

New York Court Quietly Moves to Toss Out Hundreds of Foreclosure Cases

by Fraud Stoppers Admin | May 9, 2017 | Foreclosure Defense News, Tactics, and Tips | 0 Comments

New York Court Quietly Moves to Toss Out Hundreds of Foreclosure Cases BROOKLYN — Kings County Supreme Court is about to quietly dismiss thousands of foreclosure cases on Tuesday — in what lawyers say will deal a severe blow to homeowners with pending cases. The court…

read more

 

MERS wins in four Pennsylvania county lawsuits

by Fraud Stoppers Admin | May 9, 2017 | Foreclosure Defense News, Tactics, and Tips | 0 Comments

MERS wins in four Pennsylvania county lawsuits The Commonwealth Court of Pennsylvania, by a majority opinion, ruled in MERS’ favor in four lawsuits filed by the Recorders of four Pennsylvania Counties (Delaware, Berks, Bucks and Chester), locking in another victory…

read more

 

Texas orders Ocwen to stop acquiring new mortgage servicing rights

by Fraud Stoppers Admin | May 12, 2017 | Foreclosure Defense News, Tactics, and Tips | 0 Comments

Texas orders Ocwen to stop acquiring new mortgage servicing rights The Texas Department of Savings and Mortgage Lending recently ordered Ocwen Financial Corporation to cease and desist, adding its name to a growing list of states and regulators coming after the…

read more

 

Wells Fargo bogus accounts balloon to 3.5 million: lawyers

by Fraud Stoppers Admin | May 13, 2017 | Foreclosure Defense News, Tactics, and Tips | 0 Comments

Wells Fargo bogus accounts balloon to 3.5 million: lawyers Wells Fargo & Co may have opened as many as 3.5 million unauthorized customer accounts, far more than previously estimated, according to lawyers seeking approval of a $142 million settlement over the…

read more

 

Supreme Court rules cities can sue banks for predatory lending

by Fraud Stoppers Admin | May 15, 2017 | Foreclosure Defense News, Tactics, and Tips | 0 Comments

Supreme Court rules cities can sue banks for predatory lending Hands partial victory to Miami in suits against Bank of America, Wells Fargo The Supreme Court handed down a landmark ruling, stating cities can sue banks for discriminatory mortgage lending practices, but…

read more

 

Register for a free mortgage fraud analysis to determine what your best and most affordable options are to getting the legal remedy that you deserve at https://www.fraudstoppers.org/free-mortgage-fraud-analysis/

 

 

FRAUD STOPPERS Trail Ready EvidenceIf you are in foreclosure or you have lost your home to foreclosure and you want to sue for mortgage fraud or foreclosure fraud, FRAUD STOPPERS PMA can help you save time and money, and increase your odds of success, with a court ready Quiet Title or Wrongful Foreclosure lawsuit package. If you have received a Notice of Default (NOD) or a Foreclosure Notice (Foreclosure Complaint) and you want to know how to respond to the Notice of Default (NOD) or a Foreclosure Notice (Foreclosure Complaint) call FRAUD STOPPERS PMA today because our prove system can help you fight to save your home from foreclosure fraud and/or mortgage fraud. Our court ready Quiet Title Lawsuit Package or Wrongful Foreclosure Lawsuit Packages includes a turnkey complaint (petition for damages), Bloomberg Securitization Audit, Expert Witness Affidavit, Application for Temporary Restraining Order (to stop a foreclosure sale or stop an eviction), Lis Pendens (to cloud the marketability of the title to the real property), and Pro Se education material that can show you how to win a Quiet Title Lawsuit or win a Wrongful Foreclosure Lawsuit. This entire court ready Quiet Title Lawsuit Package or Wrongful Foreclosure Lawsuit Package is only $1495 and can help you save thousands of dollars in legal fees and help you increase your odds of success. For payment options or more information on this court ready Quiet Title Lawsuit Package or Wrongful Foreclosure Lawsuit Package please contact FRAUD STOPPERS PMA today at 844.372.8378 or open a case file for a Free Mortgage Fraud Analysis and Bloomberg Securitization Search to see if your current mortgage loan situation qualifies for a Quiet Title or Wrongful Foreclosure lawsuit here: https://www.fraudstoppers.org/free-mortgage-fraud-analysis/

DON'T LET THE BANKS TRICK YOU!

Register for a FREE Mortgage Fraud Analysis and get the FACTS you need to make the right decision regarding your loan!

get-started-now

 

 

 

 

 

For information on foreclosure defense call us at 844-372-8378. We offer litigation support, admissible evidence, expert witness testimony, education, training, and support in all 50 states to attorneys and pro se homeowners.

Fraudstoppers PMA

Feel free to connect with us . . .

Address: 332 S Michigan Avenue Suite 1032 #F513 Chicago IL 60604-4434 Phone: 844-372-8378

Fraud Stoppers Logo

Legal Information Is Not Legal Advice: This site provides “information” about the law and is only designed to help users safely cope with their own legal needs. But legal information is not the same as legal advice — the application of law to an individual’s specific circumstances. THIS SITE IS NOT INTENDED TO BE MISCONSTRUED AS LEGAL ADVICE. Fraud Stoppers is NOT a law firm, non-profit organization, or government agency. Register for your Free Mortgage Fraud Analysis and Securitization Search, and get Free Foreclosure Defense Help and Free Foreclosure Defense Documents that you can use to stop a foreclosure and save your house.

 

Pin It on Pinterest

Share This