Mortgage Servicing Fraud
occurs post loan origination when mortgage servicers use false statements and book-keeping entries, fabricated assignments, forged signatures and utter counterfeit intangible Notes to take a homeowner's property and equity.
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The following FACTS about MERS may prove helpful to one or more of you in forthcoming litigation or appeals in which MERS is a party.  Bear in mind that simply because these FACTS are posted here, it does not follow that this information is directly admissible in a Court proceeding.  To the extent that one or more of these facts is RELEVANT to your case, you will need to PROVE such facts.

But each of these facts CAN be PROVEN!

Perhaps one or more of you can also share copies or links to primary documents which PROVE these FACTS.  ALL of these FACTS CAN BE PROVEN through proper discovery in the trial court.  Bear in mind that some of the facts seem redundant.  This is because the precise fact as stated may be PROVEN using slightly nuanced wording.

Here we go:

Basic Corporate Information

  • MERS is incorporated within the State of Delaware.
  • MERS was first incorporated in Delaware in 1999.
  • The total number of shares of common stock authorized by MERS’ articles of incorporation is 1,000.
  • The total number of shares of MERS common stock actually issued is 1,000.
  • MERS is a wholly owned subsidiary of MERSCorp, Inc.
  • MERS’ principal place of business at 1595 Spring Hill Road, Suite 310, Vienna, Virginia 22182
  • MERS’ national data center is located in Plano, Texas.
  • MERS’ serves as a “nominee” of mortgages and deeds of trust recorded in all fifty states.
  • Over 50 million loans have been registered on the MERS system.
  • MERS’ federal tax identification number is “541927784”.

The Nature of MERS’ Business

  • MERS does not take applications for, underwrite or negotiate mortgage loans.
  • MERS does not make or originate mortgage loans to consumers.
  • MERS does not extend any credit to consumers.
  • MERS has no role in the origination or original funding of the mortgages or deeds of trust for which it serves as “nominee”.
  • MERS does not service mortgage loans.
  • MERS does not sell mortgage loans.
  • MERS is not an investor who acquires mortgage loans on the secondary market.
  • MERS does not ever receive or process mortgage applications.
  • MERS simply holds mortgage liens in a nominee capacity and through its electronic registry, tracks changes in the ownership of mortgage loans and servicing rights related thereto.
  • MERS© System is not a vehicle for creating or transferring beneficial interests in mortgage loans.
  • MERS is not named as a beneficiary of the alleged promissory note.

Ownership of Promissory Notes or Mortgage Indebtedness

  • MERS is never the owner of the promissory note for which it seeks foreclosure.
  • MERS has no legal or beneficial interest in the promissory note underlying the security instrument for which it serves as “nominee”.
  • MERS has no legal or beneficial interest in the loan instrument underlying the security instrument for which it serves as “nominee”
  • MERS has no legal or beneficial interest in the mortgage indebtedness underlying the security instrument for which it serves as “nominee”.
  • MERS has no interest at all in the promissory note evidencing the mortgage indebtedness.
  • MERS is not a party to the alleged mortgage indebtedness underlying the security instrument for which it serves as “nominee”.
  • MERS has no financial or other interest in whether or not a mortgage loan is repaid.
  • MERS is not the owner of the promissory note secured by the mortgage and has no rights to the payments made by the debtor on such promissory note.
  • MERS does not make or acquire promissory notes or debt instruments of any nature and therefore cannot be said to be acquiring mortgage loans.
  • MERS has no interest in the notes secured by mortgages or the mortgage servicing rights related thereto.
  • MERS does not acquire any interest (legal or beneficial) in the loan instrument (i.e., the promissory note or other debt instrument).
  • MERS has no rights whatsoever to any payments made on account of such mortgage loans, to any servicing rights related to such mortgage loans, or to any mortgaged properties securing such mortgage loans.
  • The note owner appoints MERS to be its agent to only hold the mortgage lien interest, not to hold any interest in the note.
  • MERS does not hold any interest (legal or beneficial) in the promissory notes that are secured by such mortgages or in any servicing rights associated with the mortgage loan.
  • The debtor on the note owes no obligation to MERS and does not pay MERS on the note.

MERS’ Accounting of Mortgage Indebtedness / MERS Not At Risk

  • MERS is not entitled to receive any of the payments associated with the alleged mortgage indebtedness.
  • MERS is not entitled to receive any of the interest revenue associated with mortgage indebtedness for which it serves as “nominee”.
  • Interest revenue related to the mortgage indebtedness for which MERS serves as “nominee” is never reflected within MERS’ bookkeeping or accounting records nor does such interest influence MERS’ earnings.
  • Mortgage indebtedness for which MERS serves as the serves as “nominee” is not reflected as an asset on MERS’ financial statements.
  • Failure to collect the outstanding balance of a mortgage loan will not result in an accounting loss by MERS.
  • When a foreclosure is completed, MERS never actually retains or enjoys the use of any of the proceeds from a sale of the foreclosed property, but rather would remit such proceeds to the true party at interest.
  • MERS is not actually at risk as to the payment or nonpayment of the mortgages or deeds of trust for which it serves as “nominee”.
  • MERS has no pecuniary interest in the promissory notes or the mortgage indebtedness for which it serves as “nominee”.
  • MERS is not personally aggrieved by any alleged default of a promissory note for which it serves as “nominee”.
  • There exists no real controversy between MERS and any mortgagor alleged to be in default.
  • MERS has never suffered any injury by arising out of any alleged default of a promissory note for which it serves as “nominee”.

MERS’ Interest in the Mortgage Security Instrument

  • MERS holds the mortgage lien as nominee for the owner of the promissory note.
  • MERS, in a nominee capacity for lenders, merely acquires legal title to the security instrument (i.e., the deed of trust or mortgage that secures the loan).
  • MERS simply holds legal title to mortgages and deeds of trust as a nominee for the owner of the promissory note.
  • MERS immobilizes the mortgage lien while transfers of the promissory notes and servicing rights continue to occur.
  • The investor continues to own and hold the promissory note, but under the MERS® System, the servicing entity only holds contractual servicing rights and MERS holds legal title to the mortgage as nominee for the benefit of the investor (or owner and holder of the note) and not for itself.
  • In effect, the mortgage lien becomes immobilized by MERS continuing to hold the mortgage lien when the note is sold from one investor to another via an endorsement and delivery of the note or the transfer of servicing rights from one MERS member to another MERS member via a purchase and sale agreement which is a non-recordable contract right.
  • Legal title to the mortgage or deed of trust remains in MERS after such transfers and is tracked by MERS in its electronic registry.

Beneficial Interest in the Mortgage Indebtedness

  • MERS holds legal title to the mortgage for the benefit of the owner of the note.
  • The beneficial interest in the mortgage (or person or entity whose interest is secured by the mortgage) runs to the owner and holder of the promissory note and/or servicing rights thereunder.
  • MERS has no interest at all in the promissory note evidencing the mortgage loan.
  • MERS does not acquire an interest in promissory notes or debt instruments of any nature.
  • The beneficial interest in the mortgage (or the person or entity whose interest is secured by the mortgage) runs to the owner and holder of the promissory note (NOT MERS).

MERS As Holder

  • MERS is never the holder of a promissory note in the ordinary course of business.
  • MERS is not a custodian of promissory notes underlying the security instrument for which it serves as “nominee”.
  • MERS does not even maintain copies of promissory notes underlying the security instrument for which it serves as “nominee”.
  • Sometimes when an investor or servicer desires to foreclose, the servicer obtains the promissory note from the custodian holding the note on behalf of the mortgage investor and places that note in the hands of a servicer employee who has been appointed as an officer (vice president and assistant secretary) of MERS by corporate resolution.
  • When a promissory note is placed in the hands of a servicer employee who is also an MERS officer, MERS asserts that this transfer of custody into the hands of this nominal officer (without any transfer of ownership or beneficial interest) renders MERS the holder.
  • No consideration or compensation is exchanged between the owner of the promissory note and MERS in consideration of this transfer in custody.
  • Even when the promissory note is physically placed in the hands of the servicer’s employee who is a nominal MERS officer, MERS has no actual authority to control the foreclosure or the legal actions undertaken in its name.
  • MERS will never willingly reveal the identity of the owner of the promissory note unless ordered to do so by the court.
  • MERS will never willingly reveal the identity of the prior holders of the promissory note unless ordered to do so by the court.
  • Since the transfer in custody of the promissory note is not for consideration, this transfer of custody is not reflected in any contemporaneous accounting records.
  • MERS is never a holder in due course when the transfer of custody occurs after default.
  • MERS is never the holder when the promissory note is shown to be lost or stolen.

MERS’ Role in Mortgage Servicing

  • MERS does not service mortgage loans.
  • MERS is not the owner of the servicing rights relating to the mortgage loan and MERS does not service loans.
  • MERS does not collect mortgage payments.
  • MERS does not hold escrows for taxes and insurance.
  • MERS does not provide any servicing functions on mortgage loans, whatsoever.
  • Those rights are typically held by the servicer of the loan, who may or may not also be the holder of the note.

MERS’ Rights To Control the Foreclosure

  • MERS must all times comply with the instructions of the holder of the mortgage loan promissory notes.
  • MERS only acts when directed to by its members and for the sole benefit of the owners and holders of the promissory notes secured by the mortgage instruments naming MERS as nominee owner.
  • MERS’ members employ and pay the attorneys bringing foreclosure actions in MERS’ name.

MERS’ Access To or Control Over Records or Documents

  • MERS has never maintained archival copies of any mortgage application for which it serves as “nominee”.
  • In its regular course of business, MERS as a corporation does not maintain physical possession or custody of promissory notes, deeds of trust or other mortgage security instruments on behalf of its principals.
  • MERS as a corporation has no archive or repository of the promissory notes secured by deeds of trust or other mortgage security instruments for which it serves as nominee.
  • MERS as a corporation is not a custodian of the promissory notes secured by deeds of trust or other mortgage security instruments for which it serves as nominee.
  • MERS as a corporation has no archive or repository of the deeds of trust or other mortgage security instruments for which it serves as nominee.
  • In its regular course of business, MERS as a corporation does not routinely receive or archive copies of the promissory notes secured by the mortgage security instruments for which it serves as nominee.
  • In its regular course of business, MERS as a corporation does not routinely receive or archive copies of the mortgage security instruments for which it serves as nominee.
  • Copies of the instruments attached to MERS’ petitions or complaints so not come from MERS’ corporate files or archives.
  • In its regular course of business, MERS as a corporation does not input the promissory note or mortgage security instrument ownership registration data for new mortgages for which it serves as nominee, but rather the registration information for such mortgages are entered by the “member” mortgage lenders, investors and/or servicers originating, purchasing, and/or selling such mortgages or mortgage servicing rights.
  • MERS does not maintain a central corporate archive of demands, notices, claims, appointments, releases, assignments, or other files, documents and/or communications relating to collections efforts undertaken by MERS officers appointed by corporate resolution and acting under its authority.

Management and Supervision

  • In preparing affidavits and certifications, officers of MERS, including Vice Presidents and Assistant Secretaries, making representations under MERS’ authority and on MERS’ behalf, are not primarily relying upon books of account, documents, records or files within MERS’ corporate supervision, custody or control.
  • Officers of MERS preparing affidavits and certifications, including Vice Presidents and Assistant Secretaries, and otherwise making representations under MERS’ authority and on MERS’ behalf, do not routinely furnish copies of these affidavits or certifications to MERS for corporate retention or archival.
  • Officers of MERS preparing affidavits and certifications, including Vice Presidents and Assistant Secretaries, and otherwise making representations under MERS’ authority and on MERS’ behalf are not working under the supervision or direction of senior MERS officers or employees, but rather are supervised by personnel employed by mortgage investors or mortgage servicers.
This should be a pretty good start for those of you faced with a foreclosure in which MERS is falsely asserting that it is the owner of the promissory note.  Whether MERS is or was ever the holder is a FACT QUESTION which can be determined only by ascertainly the chain of custody of the promissory note.  When the promissory note is lost, missing or stolen, MERS is NOT the holder

I would encourage those with knowledge of other HELPFUL FACTS about MERS to post them HERE!
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Nye Lavalle
Great work in reading the Arnold Depo, briefs, lawsuits, MERS rules, legal seminar docs, ad slides... now if only judges can read between the lines as well as bullets... Good job!
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srsd

I have been looking at the foreclosures in our local newspaper and all of them have MES except maybe 1-2.

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Moose
FYI:

http://www.mersinc.org/filedownload.aspx?id=176&table=ProductFile

State by state recommended foreclosure procedures (111 pages .pdf) - Not much has changed since it was prepared.

Some things common to many MERS-related foreclosures you and your counsel should be aware of:

"Employees of the servicer will be certifying officers of MERS. This means they are authorized to sign any necessary documents as an officer of MERS. The certifying officer is granted this power by a corporate resolution of MERS. In other words, the same individual that signs the documents for the servicer will continue to sign the documents, but now as an officer of MERS."

 

"Even though the servicer has physical custody of the note, custom in the mortgage industry is that the investor (Fannie Mae, Freddie Mac, Ginnie Mae or a private investor) owns the beneficial rights to the promissory note."

 

"If the promissory note is endorsed in blank and the servicer has physical custody of the note, the servicer will technically be the note holder as well as the record mortgage holder. By virtue of having the servicer’s employees be certifying officers of MERS, there can be an in-house transfer of possession of the note so that MERS is considered the note holder for purposes of foreclosing the loan."

 

Moose

 

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nh

MERS adopts corporate resolutions appointing servicer employees as vice presidents and assistant secretaries of MERS with the authority to act in MERS' name.  MERS thereby completely delegates back to the investor and servicer the authority to act in MERS' name.

Sometimes, MERS also appoints lawyers of its servicers as officers (vice presidents and assistant secretaries of MERS).  This further shortcuts the process, enabling law firms to make false representations and averments in MERS' name.

You can obtain copies of the corporate resolutions granting authority to MERS through discovery

Examples of MERS' corporate resolutions can be found recorded within the public records in a number of jursidictions.  For example, here in New Hampshire, an MERS Corporate Resolution dated October 31, 2001, appointing attorneys of Harmon Law Offices (MA) as vice presidents and assistant secretaries can be found recorded within the Belknap, NH, deed records at Book 1920, Page 948.  See generally http://www.nhdeeds.com .

This same corporate resolution is also recorded within the deed records for Rockingham County, NH at Book 3740, Page 204. 

I believe that you will also find this same corporate resolution recorded within the records for Norfolk County, Massachusetts.

An earlier MERS corporate resolution dated January 12, 1999, is recorded at Rockingham County, NH at Book 3633, Page 1619.

PUBLIC RECORDS ALSO CONTAIN MANY RECORDED DOCUMENTS SHOWING MERS OFFICERS THROUGHOUT THE UNITED STATES EXECUTING DOCUMENTS IN MERS' NAME.  THESE DOCUMENTS USUALLY INCLUDE ASSIGNMENTS, RELEASES, LOAN MODIFICATION AGREEMENTS, DEEDS, ETC.  SOME OF THESE MAY PROVE HELPFUL TO PROVING YOUR CASE.

Why dont we POST links to other recorded MERS corporate resolutions we find here?  This may be helpful to others bringing RICO and fraud actions against MERS!
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Nye Lavalle
Except it's not the servicer signing for MERS in majority of cases but an employee of FANDO or Fidelity saying they are an employee and OFFICER of the servicer AND MERS and never the real note onwer OR HOLDER.

Aset of admissions using the above info is in order for all as well as the deposition of EACH person signing ANY affidavit, affirmation, payoff, declaration etc. Have them bring their pay stubs and tax returns and all employment or agency agreements with them!
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AB
American Banker: "Foreclosures Turn Up Heat on Mers"
Tuesday, July 10, 2007
Pg. 1 Vol. 172 No. 131

By: Kate Berry

   With mortgage foreclosures on the rise, Merscorp Inc., which operates an electronic loan registry used by thousands of companies, has found itself the target of an increasing number of lawsuits - several of which challenge its basic business model.

   At least four suits have been filed this year, two last year, and three others from 2000 to 2003, against the Vienna, Va., company. All of them contest the firm's authority to foreclose on behalf of lenders.

   When a home loan is written these days, more often than not the party listed in the public record as holding the mortgage is not the lender, but a Merscorp subsidiary: Mortgage Electronic Registration Systems Inc. The registry tracks the sales of loans, or the right to service them, for 3,500 member companies,which pay annual dues and a fee for every transaction recorded. But the unit remains the owner of record throughout the life of the loan.

   The electronic registry has undoubtedly saved the industry time and money on secondary-market transactions by reducing paperwork and filing fees. Created in1996, it now covers 60% of originations, and in May it registered its 50 millionth loan. But consumer advocates argue it is unfair to obscure the mortgage's true owner from consumers.

   Homeowners facing foreclosure may need this information, the critics say, to determine whom to contact to negotiate settlements - or whom to sue for predatory practices. (When borrowers contact Merscorp, it will tell them only who the servicer is.) Not surprisingly, county clerks have also fought the designation of "Mers as original mortgagee" (or "Mom"), because they miss out on assignment fees.

   Unlike a servicer, the unit cannot work out or modify troubled loans, its critics have noted. But two appellate courts recently have upheld its right to foreclose, on the grounds that the documents signed by the borrowers listed it as the mortgage lien holder and the noteholder. A proposed class action filed last year in Florida is trying a different tack by arguing Merscorp should be licensed as a debt collector or lender if it is to initiate foreclosure proceedings.

   Merscorp is 60% owned by Fannie Mae, though Freddie Mac, more than a dozen lenders, five insurance companies, three trade groups, and the company's eight executives also hold shares. The registry's members include the top 100 originators and servicers. Dues range from $264 to $7,500, depending on a member's size.

   Bill Hultman, a senior vice president at the company, said that the registry has helped consumers by simplifying the recording process.

   Previously mortgage "assignments would not get recorded or were rejected by a county because they were improperly prepared, and the chain of title often would be broken," he said. "It was very difficult for the borrower when they went to pay off a loan, or a closing would get held up and a borrower could not get a loan released." The registry eliminated "all of those missing assignments."

   Also, the costs of multiple loan transfers often were passed on to borrowers indirectly, Mr. Hultman said. "It's cheaper to pay the Mers fee of $4.95 than the assignment fee of $30."

   The main reason noteholders and servicers use the name "Mortgage Electronic Registration System Inc." in foreclosure proceedings is because of the delay if they have to go back and record an assignment with a county clerk, he said.

   The servicer or investor can still foreclose in its own name, and some prefer to do so, Mr. Hultman said. "In some ways, it's better for us, because if the borrower has a complaint against a servicer or an investor, we don't get involved."

   In 2001, Merscorp sued Edward Romaine, then the clerk of Suffolk County, N.Y., who for several years refused to record it as the mortgage holder.

   Mr. Romaine argued in court that the company had no real ownership interest in the loans and did not maintain a chain of title that listed the names and dates when a mortgage had been transferred. Merscorp won the case on appeal in 2005.

   Richard Cahn, a member of Cahn & Cahn LLP in Melville, who represented Mr. Romaine in the case, said it highlighted the need to examine 200-year-old real estate laws that were enacted "to provide transparency to interested members of the public" in important transactions.

   "There is no way for the public or a landowner to know who has an interest in their property," he said.

   Though the four appellate judges voted unanimously in favor of Merscorp, Chief Judge Judith Kaye wrote in a partial dissent that its registry reduces the amount of public data on the industry and "may also function, perhaps unintentionally, to insulate a noteholder from liability, mask lender error, and hide predatory lending practices."

   The lack of disclosure "may create substantial difficulty when a homeowner wishes to negotiate the terms of his or her mortgage or enforce a legal right against the mortgagee and is unable to learn the mortgagee's identity," Judge Kaye wrote.

   According to her dissenting opinion, the registry cost Suffolk County $1 million of revenue last year.

   Sharon Horstkamp, a vice president and the general counsel at Merscorp, said borrowers typically receive "hello" and "goodbye" letters from their lender and are then told who their servicer is. "That's who they would be contacting if they have questions on their mortgage loans."

   Mortgage notes "have to be able to move freely," so lenders can recoup their money by selling the notes and lending to other borrowers, Ms. Horstkamp said.

   The proposed class action filed last year in the U.S. District Court for the Middle District of Florida in Jacksonville accuses Merscorp of unfair trade practices.

   The suit says that Merscorp identifies itself as a creditor but has failed to register as a consumer collection agency in Florida and does not have a license as a mortgage lender that would allow it to act on behalf of its members.

   "They're collecting a debt that they don't have a right to collect and in a manner to which they're not legally entitled to collect," said April Charney, a senior attorney at Jacksonville Area Legal Aid Inc., who represents nine borrowers in the proposed class action.

   Moreover, "the point of having a recording system is so everyone, including the consumer, can know who owns the mortgage," she said. "Mers is an attempt to evade that. Why should they be listed instead of the party that actually owns the note? That lack of transparency makes it very difficult for consumers to even know whom to serve process on."

   Mr. Hultman said property statutes were created to provide notice to third parties that there is a lien on a house, "not necessarily who the owner of the lien is" or what entity owns the loan.

   "There's no requirement anywhere that any of these documents be recorded in the land record, so it's not true that the statutes are there for full disclosure. They're to protect third parties from fraudulent transfers," he said. "There are people in the mortgage industry that took advantage of borrowers, and somehow we got caught up in this, because our name is on the foreclosure papers, and that we're somehow trying to hide things from the world, and that's just not the case."

   Mr. Hultman said that the proposed class action hinges on a technicality, and that he thinks it will be dismissed.

   "There's this misnomer that people have that we're not the mortgagee of record, even though the borrower makes us the mortgagee when they sign their mortgage, and that's a matter of contract rights between the borrower and the lender," he said.

Contact Kate Berry at Kate.Berry@sourcemedia.com or (562) 434-5432. 

   http://www.americanbanker.com/

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Now there is a FASCINATING realization!  To the extent that the American Banker article is CORRECT and FNMA actually DOES OWN 60% of the stock in MERSCorp, it would appear that FNMA can actually CONTROL MERSCorp!

But FNMA has REALIZED that foreclosing in MERS' name creates enormous unnecessary exposure and has PROHIBITED all FNMA from doing this!  Fannie Mae SUSPENDED ALL FORECLOSURES NATIONALLY in MERS' name on December 7, 2006:

 
https://www.efanniemae.com/sf/guides/ssg/annltrs/pdf/2006/0624.pdf


Of course, the reasonable and logical thing for FNMA to do would be to simply DIRECT that MERS alter its Rules to preclude foreclosures in MERS' name.  THis would be the ethical thing to do.  But while abandoning foreclosures in MERS' name for FNMA mortgages, FNMA PERMITS MERS to continue handling foreclosures for FHLMC and other non-conforming, non-agency mortgages!

What is up with that??  Is Fannie actually using MERS to undermine Freddie Mac??

WOW!!  Pretty devious stuff!!

Nye:  In my reaction to your posts in Arkygirls' message thread "Dang it! MERS wins again" ( http://www.websitetoolbox.com/tool/post/ssgoldstar/vpost?id=2059053 ) it seems I underestimated Fannie Mae's ability to resolve the industrywide MERS foreclosure matters by FIAT.  In consideration of what appears to be an ability by Fannie Mae to CONTROL MERS, it would appear to me that you might want to use your influence with the FNMA special counsel to REQUIRE that MERS take appropriate corrective action.

Thanks AB!!
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Nye Lavalle
Special counsel was a sham. They just took all my info to help whitewash things and cover and conceal better.
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http://mortgageservicingownership.blogspot.com/2007/07/who-really-owns-it-now-tell-truth.html

Tuesday, July 24, 2007

Who really owns it? Now tell the truth.

If you think the accounting scandals at Freddie Mac were noteworthy, read on. In the area of mortgage servicing assets which involves trillions and trillions of dollars, and in many cases represents the lion’s share of equity on a mortgage banker’s books, Freddie Mac seems to have created for itself a perfect license to steal by transferring this wealth from the mortgage banker’s books to its own without paying for it. It accomplishes this miracle by telling the federal courts what it apparently won’t tell its sellers/servicers.

Read on via link.......Interesting blog


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wv

This is helpful!  Thanks!

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Smoke & MERS' in my opinion began with the contract.  Yes MERS' was mentioned but the contract was never clear whether Mers' was a third party. As I believe MERS' was a third party to the contract and agent from MERS' would have had to signed off on their involvement, or, if they failed to do so, before the loan funds issued they would never be a thrid party and the mention of MERS' was mere surplusage (extra irrelevant words) Well, if the contract would have been clear the MERS' was of relevance I would have excerecised my 3 day right of recission!  My broker told me nothing of MERS' until the day the contract was presented.  As MERS' was evidently not going to sign off as third party whom would deal with registry and lein holder by nominee as a matter of contract law, at least as I've understood it on a personal level, MERS' COULD NEVER LEGALLY Had ANYTHING TO DO WITH MY MORTAGE AT ALL...

Next, I must wonder about anylaw which would effect property rights either directly or indirectly.  I wonder where as my state consitution provides a property clause and contract clause as safeguards its citizens.  My state constitution also provides the each amendment safeguards independantly from the next.  And from all I know via personal study, a state law concerning the registry of liens against property, our homes, would never be valid, even void from its enactment as if had never been, unless there was a vote of the people, first, to amend the consitution to permit such a life changing property stealing law.  Yes, lawmakers can make laws without us for our own well being and of course it is done all the time.  However, I know of no way for our law makers to legitimately make a law which directly or indirectly effects a property and or contract clause of any state, or, Our Federal Constitution.  That said, why have we not found a class action attorney yet to help us?

I believe we, who are being duped out of our homes, are all entitled to damages.  When BNC sold my home to Option One/H&R Block I was not told.  And as it was sold for evidently pennies on the dollar, and had I been told, I would have given BNC at least 30 cents on the dollar via refi.  It is disheartening to be left to believe that the secret mortgage paper sales and MERS' transfers were theft or striping of my opportunity to regain massive equity.  The process seem to = equity striping beyond the Enron corruptions. When Option One (evidently H&R Block) sold my home to ASC (who is really secretly Well's Fargo) it was secretly done to me, twice! 

Nevertheless, understand I'm just putting these things out there like everyone else. I'm not a lawyer and cannot and do not offer my writing as legal advise.  I beg you to look these things up for yourselves in each of you states.  I have self-studied the law and so much the more in the face of having my home stolen but that is all.  I can only suggest you read the law for yourself and find an attorney who has no bank for a client.

Like everyone else, I am not pleased but believe a real attorney may help us if they don't all work for the banks already, which is absolutley the case in my state.

To all who really care, there are 7 things we can do to enable that we get counsel and a class action started now.  But the help of the many is needed as it is many that is neede for equal a class action, not just a few. 

I also know that if we win we must settle the matter quickly and quietly or we will send our economy into resession or worse. I already putting together a proposal to let us all prefit, and let the banks do very well, too!  As wicked as some of the banks have treated us leaving them all to fail is something terrorists would like.  I believe the messiah forgave and as long as banks are willing to promptly puts things right?  Well, then, so must we.... if not the banks will starve us out and we'll be facing maybe a decade of appeals... No one wins that way, not really...

If you in say exactly so to my email.  Do not tell me all your story... that is for the attorneys.  Just one line to my email InfoMortgageMess@yahoo.com . I'll make it eazy! The one line can be a simple cut and paste:

"predatory mortgage vicitm willing to enertain solution and class action and settlement"  "Help me too! I'll look at anything."
 
The words "Sub Prime Mortgage Ideas?" should be placed in the subject line.

I'll get you an email back with a proposal ASAP.

ThanX.

Respectfully,

Just "Z"

  
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William A. Roper, Jr.
It probably couldn't hurt to update this ancient MERS thread with some useful and more recent crosslinks!

I will begin with a link to the MERS Servicer Lookup Facility thread:

"MERS Servicer ID Lookup"

http://ssgoldstar.websitetoolbox.com/post?id=5346473

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William A. Roper, Jr.
Here are some links to the critical primary documents which help to PROVE the various assertions shown in the original post:

MERS Terms and Conditions (2008)

http://www.scribd.com/doc/44807159/MERS-Terms-and-Conditions-2008

 

MERS Rules of Membership (June 2009)

http://www.scribd.com/doc/44806946/MERS-Rules-of-Membership-June-2009


MERS Appellant's Brief in MERS v. Nebraska Dept. of Banking and Commerce

http://www.scribd.com/doc/40664635/MERS-Appellants-Brief-MERS-v-Nebraska-Dept-of-Banking-Filed-15-Oct-2004

Quote 0 0
Texas
http://www.mersinc.org/MersProducts/forms.aspx?mpid=1

ELECTRONIC TRACKING AGREEMENT

 WAREHOUSE LENDER

 

                                                                                                Member Org#_______________

THIS ELECTRONIC TRACKING AGREEMENT dated as of ____________, 200_ (this “Agreement”) among __________________ (“Lender”), MERSCORP, Inc. (“Electronic Agent”), Mortgage Electronic Registration Systems, Inc. (“MERS”) and ________________ (“Borrower”).

WHEREAS, the Lender has agreed to extend a line of credit to the Borrower for the purpose of the Borrower lending money to potential homeowners for mortgage loans (the “Mortgage Loans”) pursuant to the terms and conditions of a Mortgage Warehouse Loan and Security Agreement dated as of _________ between the Lender and Borrower, as amended from time to time (the “________________ Agreement”).

WHEREAS, the Borrower is obligated to pledge the Mortgage Loans to the Lender and also to service the Mortgage Loans pursuant to the terms and conditions of the ____________ Agreement and to complete all actions necessary to cause the issuance and delivery to the Lender of the Mortgage Notes (the “Mortgage Notes”), and

WHEREAS, the Lender and the Borrower desire to have certain Mortgage Loans registered on the MERS® System (defined below) such that the mortgagee of record under each Mortgage (defined below) shall be identified as MERS;

NOW, THEREFORE, the parties, intending to be legally bound, agree as follows:

 

1.         Definitions.

Capitalized terms used in this Agreement shall have the meanings ascribed to them below.

Affected Loans” shall have the meaning assigned to such term in Section 4(b).

Assignment of Mortgage” shall mean, with respect to any Mortgage, an assignment of the Mortgage, notice of transfer or equivalent instrument in recordable form, sufficient under the laws of the jurisdiction wherein the related mortgaged property is located to effect the assignment of the Mortgage upon recordation.

“Event of Default” shall mean a default that is not cured within the applicable grace period as defined in the ________________ Agreement.

 MERS Procedures Manual” shall mean the MERS Procedures Manual attached as Exhibit B hereto, as it may be amended from time to time.

MERS Designated Mortgage Loan” shall have the meaning assigned to such term in Section 3.

MERS® System” shall mean the Electronic Agent’s mortgage electronic registry system, as more particularly described in the MERS Procedures Manual.

Mortgage” shall mean a lien, mortgage or deed of trust securing a Mortgage Note.

Mortgage Loan” shall mean each mortgage loan that is pledged by Borrower to Lender.

Mortgage Loan Documents” shall mean the originals of the Mortgage Notes and other documents and instruments.

Mortgage Note” shall mean a promissory note or other evidence of indebtedness of the obligor thereunder, representing a Mortgage Loan, and secured by the related Mortgage.

Mortgagor” shall mean the obligor on a Mortgage Note.

Notice of Default” shall mean a notice from the Lender that an Event of Default has occurred and is continuing.

 

Opinion of Counsel” shall mean a written opinion of counsel in form and substance reasonably acceptable to the Lender.

 

Person” shall mean any individual, corporation, company, voluntary association, partnership, joint venture, limited liability company, trust, unincorporated association or government (or any agency, instrumentality or political subdivision thereof).

 

2.         Appointment of the Electronic Agent.

 

(a)        The Lender and the Borrower, by execution and delivery of this Agreement, each does hereby appoint MERSCORP, Inc. as the Electronic Agent, subject to the terms of this Agreement, to perform the obligations set forth herein.

 

(b)        MERSCORP, Inc., by execution and delivery of this Agreement, does hereby (i) agree with the Lender and the Borrower subject to the terms of this Agreement to perform the services set forth herein, and (ii) accepts its appointment as the Electronic Agent.

 

3.         Designation of MERS as Mortgagee of Record; Designation of Investor and Servicer of Record in MERS.

The Borrower represents and warrants that (a) it has designated or shall designate MERS as, and has taken or will take such action as is necessary to cause MERS to be, the mortgagee of record, as nominee for the Borrower, with respect to the pledged Mortgage Loans in accordance with the MERS Procedures Manual and (b) it has designated or will promptly designate itself as the servicer or subservicer in the MERS® System for each such pledged Mortgage Loan (each pledged Mortgage Loan, so designated is a “MERS Designated Mortgage Loan”), and has designated or will promptly designate the Lender as the interim funder on the MERS® System with respect to each MERS Designated Mortgage Loan.

4.         Obligations of the Electronic Agent

 

(a)        The Electronic Agent shall ensure that MERS, as the mortgagee of record under each MERS Designated Mortgage Loan, shall promptly forward all properly identified notices MERS receives in such capacity to the person or persons identified in the MERS® System as the servicer or if a subservicer is identified in the MERS® System, the subservicer for such MERS Designated Mortgage Loan.

 

            (b)        Upon receipt of a Notice of Default, in the form of Exhibit C, from the Lender in which the Lender shall identify the MERS Designated Mortgage Loans with respect to which the Borrower’s right to act as servicer or subservicer thereof has been terminated by the Lender (the “Affected Loans”), the Electronic Agent shall modify the investor fields and/or servicer fields to reflect the investor and/or servicer on the MERS® System as the Lender or the Lender’s designee with respect to such Affected Loans. Following such Notice of Default, the Electronic Agent shall follow the instructions of the Lender with respect to the Affected Loans without further consent of the Borrower, and shall deliver to the Lender any documents and/or information (to the extent such documents or information are in the possession or control of the Electronic Agent) with respect to the Affected Loans requested by the Lender.

 

(c)        Upon the Lender’s request and instructions, and at the Borrower’s sole cost and expense, the Electronic Agent shall deliver to the Lender or the Lender’s designee, an Assignment of Mortgage from MERS, in blank, in recordable form but unrecorded with respect to each Affected Loan; provided however, that the Electronic Agent shall not be required to comply with the foregoing unless the costs of doing so shall be paid by the Borrower or a third party.

 

      (d)                         The Electronic Agent shall promptly notify the Lender if it has actual knowledge that any mortgage, pledge, lien, security interest or other charge or encumbrance exists with respect to any of the Mortgage Loans.  Upon the reasonable request of the Lender, the Electronic Agent shall review the field designated “interim funder” and shall notify the Lender if any Person (other than the Lender) is identified in the field designated “interim funder”.

 

(e)        In the event that (i) the Borrower, the Electronic Agent or MERS shall be served by a third party with any type of levy, attachment, writ or court order with respect to any MERS Designated Mortgage Loan or (ii) a third party shall institute any court proceeding by which any MERS Designated Mortgage Loan shall be required to be delivered otherwise than in accordance with the provisions of this Agreement, the Electronic Agent shall promptly deliver or cause to be delivered to the other parties to this Agreement copies of all court papers, orders, documents and other materials concerning such proceedings. 

 

(f)        Upon the request of the Lender, the Electronic Agent shall run a query with respect to any and all specified fields with respect to any or all of the MERS Designated Mortgage Loans and, if requested by the Lender, shall change the information in such fields in accordance with the Lender’s instructions.

 

            (g)        MERS, as mortgagee of record for the MERS Designated Mortgage Loans, shall take all such actions as may be required by a mortgagee in connection with servicing the MERS Designated Mortgage Loans at the request of the applicable servicer identified on the MERS® System, including, but not limited to, executing and/or recording, any modification, waiver, subordination agreement, instrument of satisfaction or cancellation, partial or full release, discharge or any other comparable instruments, at the sole cost and expense of the Borrower.

 

(h)        MERS shall cause certain officers of the Lender to be appointed officers of MERS with respect to the MERS Designated Mortgage Loans, with the power to wield all of the powers specified in the form of corporate resolution used to appoint such officer attached hereto as Exhibit D.

 

5.         Access to Information.

Upon the Lender’s request, the Electronic Agent shall furnish the Lender or its auditors information in its possession with respect to the MERS Designated Mortgage Loans and shall permit them to inspect the Electronic Agent’s and MERS’ records relating to the MERS Designated Mortgage Loans at all reasonable times during regular business hours.

 

6.         Representations of the Electronic Agent and MERS.

The Electronic Agent and MERS hereby represent and warrant as of the date hereof that:

(a)        each of the Electronic Agent and MERS has the corporate power and authority and the legal right to execute and deliver, and to perform its obligations under this Agreement, and has taken all necessary corporate action to authorize its execution, delivery and performance of this Agreement;

(b)        no consent or authorization of, filing with, or other act by or in respect of, any arbitrator or governmental authority and no consent of any other Person is required in connection with the execution, delivery, performance, validity or enforceability of this Agreement;

(c)        this Agreement has been duly executed and delivered on behalf of the Electronic Agent and MERS and constitutes a legal, valid and binding obligation of the Electronic Agent and MERS enforceable in accordance with its terms, except as enforceability may be limited by bankruptcy, insolvency, reorganization, moratorium or similar laws affecting the enforcement of creditors’ rights generally and by general principles of equity (whether enforcement is sought in proceedings in equity or at law);

(d)       the Electronic Agent and MERS will maintain at all times insurance policies for fidelity and errors and omissions in amounts of at least three million dollars ($3,000,000) and five million dollars ($5,000,000) respectively, and a certificate and policy of the insurer shall be furnished to the Lender upon request and shall contain a statement of the insurer that such insurance will not be terminated prior to 30 days’ written notice to the Lender.

 

7.         Covenants of MERS.

(a)        MERS shall (a) not incur any indebtedness other than in the ordinary course of its business, (b) not engage in any dissolution, liquidation, consolidation, merger or sale of assets, (c) not engage in any business activity in which it is not currently engaged, (d) not take any action that might cause MERS to become insolvent, (e) not form, or cause to be formed, any subsidiaries, (f) maintain books and records separate from any other person or entity, (g) maintain its bank accounts separate from any other person or entity, (h) not commingle its assets with those of any other person or entity and hold all of its assets in its own name, (i) conduct its own business in its own name, (j) pay its own liabilities and expenses only out of its own funds, (k) observe all corporate formalities, (l) enter into transactions with affiliates only if each such transaction is intrinsically fair, commercially reasonable, and on the same terms as would be available in an arm’s length transaction with a person or entity that is not an affiliate, (m) pay the salaries of its own employees from its own funds, (n) maintain a sufficient number of employees in light of its contemplated business operations, (o) not guarantee or become obligated for the debts of any other entity or person, (p) not hold out its credit as being available to satisfy the obligation of any other person or entity, (q) not acquire the obligations or securities of its affiliates or owners, including partners, members or shareholders, as appropriate, (r) not make loans to any other person or entity or buy or hold evidence of indebtedness issued by any other person or entity (except for cash and investment-grade securities), (s) allocate fairly and reasonably any overhead expenses that are shared with an affiliate, including paying for office space and services performed by any employee of any affiliate, (t) use separate stationery, invoices, and checks bearing its own name, (u) not pledge its assets for the benefit of any other person or entity, (v) hold itself out as a separate identity, (w) correct any known misunderstanding regarding its separate identity, (x) not identify itself as a division of any other person or entity, and (y) maintain adequate capital in light of its contemplated business operations.

 

(b)        MERS agrees that in no event shall MERS’ status as mortgagee of record with respect to any MERS Designated Mortgage Loan confer upon MERS any rights or obligations as an owner of any MERS Designated Mortgage Loan or the servicing rights related thereto, and MERS will not exercise such rights unless directed to do so by the Lender.

 

8.         Covenants of Borrower.

 

(a)        The Borrower covenants and agrees with the Lender that with respect to each MERS Designated Mortgage Loan, it will not identify any party except the Lender in the field “interim funder” on the MERS® System.

 

(b)        Borrower will provide the Lender with MERS Identification Numbers for each MERS Designated Mortgage Loan that the Lender has extended credit on for which MERS is the mortgagee of record.

 

9.         No Adverse Interest of the Electronic Agent or MERS.

By execution of this Agreement, the Electronic Agent and MERS each represents and warrants that it currently holds, and during the existence of this Agreement shall hold, no adverse interest, by way of security or otherwise, in any MERS Designated Mortgage Loan.  The MERS Designated Mortgage Loans shall not be subject to any security interest, lien or right to set-off by the Electronic Agent, MERS, or any third party claiming through the Electronic Agent or MERS, and neither the Electronic Agent nor MERS shall pledge, encumber, hypothecate, transfer, dispose of, or otherwise grant any third party interest in, the MERS Designated Mortgage Loans.

 

10.       Indemnification of the Lender.

The Electronic Agent agrees to indemnify and hold the Lender and its designees harmless against any and all liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses or disbursements, including reasonable attorneys’ fees, that the Lender may sustain arising out of any breach by the Electronic Agent of this Agreement, the Electronic Agent’s negligence, bad faith or willful misconduct, its failure to comply with the Lender’s instructions hereunder or to the extent caused by delays or failures arising out of the inability of the Lender or the Electronic Agent to access information on the MERS® System.  The foregoing indemnification shall survive any termination or assignment of this Agreement.

 

11.       Reliance of the Electronic Agent.

 

(a)        In the absence of bad faith on the part of the Electronic Agent, the Electronic Agent may conclusively rely, as to the truth of the statements and the correctness of the opinions expressed therein, upon any request, instruction, certificate or other document furnished to the Electronic Agent, reasonably believed by the Electronic Agent to be genuine and to have been signed or presented by the proper party or parties and conforming to the requirements of this Agreement.

 

(b)        Notwithstanding any contrary information which may be delivered to the Electronic Agent by the Borrower, the Electronic Agent may conclusively rely on any information or Notice of Default delivered by the Lender, and the Borrower shall indemnify and hold the Electronic Agent harmless for any and all claims asserted against it for any actions taken in good faith by the Electronic Agent in connection with the delivery of such information or Notice of Default.

 

12.       Fees.

It is understood that the Electronic Agent or its successor will charge such fees and expenses for its services hereunder as set forth in a separate agreement between the Electronic Agent and the Borrower.  The Electronic Agent shall give prompt written notice of any disciplinary action instituted with respect to the Borrower’s failure to pay any fees required in connection with its use of the MERS® System, and will give written notice at least thirty (30) days prior to any revocation of the Borrower’s membership in the MERS® System.

 


13.       Resignation of the Electronic Agent; Termination.

 

(a)        The Lender has entered into this Agreement with the Electronic Agent and MERS in reliance upon the independent status of the Electronic Agent and MERS, and the representations as to the adequacy of their facilities, personnel, records and procedures, its integrity, reputation and financial standing, and the continuance thereof.  Neither the Electronic Agent nor MERS shall assign this Agreement or the responsibilities hereunder or delegate their rights or duties hereunder (except as expressly disclosed in writing to, and approved by, the Lender) or any portion hereof or sell or otherwise dispose of all or substantially all of its property or assets without providing the Lender with at least 60 days’ prior written notice thereof. 

 

(b)        Neither the Electronic Agent nor MERS shall resign from the obligations and duties hereby imposed on them except by mutual consent of the Electronic Agent, MERS and the Lender, or upon the determination that the duties of the Electronic Agent and MERS hereunder are no longer permissible under applicable law and such incapacity cannot be cured by the Electronic Agent and MERS.  Any such determination permitting the resignation of the Electronic Agent and MERS shall be evidenced by an Opinion of Counsel to such effect delivered to the Lender which Opinion of Counsel shall be in form and substance acceptable to the Lender.  No such resignation shall become effective until the Electronic Agent and MERS have delivered to the Lender all of the Assignments of Mortgage, in blank, in recordable form but unrecorded for each MERS Designated Mortgage Loan identified by the Lender as collateralized by the Lender.

 

14.       Removal of the Electronic Agent.

 

(a)        The Lender, with or without cause, may remove and discharge the Electronic Agent and MERS from the performance of its duties under this Agreement with respect to some or all of the MERS Designated Mortgage Loans by written notice from the Lender to the Electronic Agent and the Borrower.  

 

(b)        In the event of termination of this Agreement, at the Borrower’s sole cost and expense, the Electronic Agent shall follow the instructions of the Lender for the disposition of the documents in its possession pursuant to this Agreement, and deliver to the Lender an Assignment of Mortgage, in blank, in recordable form but unrecorded for each MERS Designated Mortgage Loan identified by the Lender as collateralized by the Lender.  Notwithstanding the foregoing, in the event that the Lender terminates this Agreement with respect to some, but not all, of the MERS Designated Mortgage Loans, this Agreement shall remain in full force and effect with respect to any MERS Designated Mortgage Loans for which this Agreement is not terminated hereunder.  Notwithstanding any termination of this Agreement, the provisions of Sections 10 shall survive any termination.

 

15.       Notices.

All written communications hereunder shall be delivered, via facsimile or by overnight courier, to the Electronic Agent and/or the Lender and/or the Borrower as indicated on the signature page hereto, or at such other address as designated by such party in a written notice to the other parties.  All such communications shall be deemed to have been duly given when transmitted by facsimile, or in the case of a mailed notice, upon receipt, in each case given or addressed as aforesaid.

 

16.       Term of Agreement.

 

(a)        This Agreement shall continue to be in effect until terminated by either the Lender or the Electronic Agent sending written notice to the other parties of this Agreement at least thirty (30) days prior to said termination.

 

(b)        Upon the termination of this Agreement by the Electronic Agent, the Electronic Agent shall, at the Electronic Agent’s sole cost and expense, execute and deliver to the Lender or its designee an Assignment of Mortgage with respect to each MERS Designated Mortgage Loan identified by the Lender, in blank, in recordable form but unrecorded.  In the event that this Agreement is terminated by the Lender without cause, the duties of the Electronic Agent in the preceding sentence shall be at the sole cost and expense of the Borrower.  In addition, the Lender and the Electronic Agent may, at the sole option of the Lender, enter into a separate agreement which shall be mutually acceptable to the parties with respect to any or all of the MERS Designated Mortgage Loans with respect to which this Agreement is terminated.

 

17.       Authorizations.

Any of the persons whose signatures and titles appear on Exhibit A hereto are authorized, acting singly, to act for the Lender, the Borrower or the Electronic Agent, as the case may be, under this Agreement.  The parties may change the information on Exhibit A hereto from time to time but each of the parties shall be entitled to rely conclusively on the then current exhibit until receipt of a superseding exhibit.

 

18.       Amendments.

This Agreement may be amended from time to time only by written agreement of the Lender, the Borrower and the Electronic Agent.

 

19.       Severability.

If any provision of this Agreement is declared invalid by any court of competent jurisdiction, such invalidity shall not affect any other provision, and this Agreement shall be enforced to the fullest extent required by law.

 

20.       Binding Effect.

This Agreement shall be binding and inure to the benefit of the parties hereto and their respective successors and assigns.

 

21.       Governing Law.

THIS AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH, AND GOVERNED BY THE LAW OF THE COMMONWEALTH OF VIRGINIA.

THE LENDER, THE BORROWER, THE ELECTRONIC AGENT AND MERS EACH IRREVOCABLY AGREES THAT ANY ACTION OR PROCEEDING ARISING OUT OF OR IN ANY MANNER RELATING TO THIS AGREEMENT MAY BE BROUGHT IN ANY COURT OF THE COMMONWEALTH OF VIRGINIA, OR IN THE U.S. DISTRICT COURT FOR THE EASTERN DISTRICT OF VIRGINIA, AND BY THE EXECUTION AND DELIVERY OF THIS AGREEMENT EXPRESSLY AND IRREVOCABLY ASSENT AND SUBMIT TO THE NONEXCLUSIVE JURISDICTION OF ANY SUCH COURTS IN ANY SUCH ACTION OR PROCEEDING.

 

22.       Waiver of Jury Trial.

THE LENDER, THE BORROWER, THE ELECTRONIC AGENT AND MERS EACH IRREVOCABLY AGREES TO WAIVE ITS RIGHT TO A JURY TRIAL IN ANY ACTION OR PROCEEDING AGAINST IT ARISING OUT OF, OR RELATED IN ANY MANNER TO, THIS AGREEMENT OR ANY RELATED AGREEMENT.

 

23.       Execution.

This Agreement may be executed in one or more counterparts and by the different parties hereto on separate counterparts, each of which, when so executed, shall be deemed to be an original; such counterparts, together, shall constitute one and the same agreement.

 

24.       Cumulative Rights.

The rights, powers and remedies of the Electronic Agent, MERS, the Borrower and the Lender under this Agreement shall be in addition to all rights, powers and remedies given to the Electronic Agent, MERS, the Borrower and the Lender by virtue of any statute or rule of law, or any other agreement, all of which rights, powers and remedies shall be cumulative and may be exercised successively or concurrently without impairing the Lender’s rights in the Mortgage Loans.

 

25.       Status of Electronic Agent.

Nothing herein contained shall be deemed or construed to create a partnership, joint venture between the parties hereto and the services of the Electronic Agent and MERS shall be rendered as independent contractors for the Lender and the Borrower.  Other than the obligations of the Electronic Agent and MERS expressly set forth herein, the Electronic Agent and MERS shall have no power or authority to act as agent for the Lender or the Borrower pursuant to any grant of authority made under or pursuant to this Agreement.

[SIGNATURE PAGE FOLLOWS]


IN WITNESS WHEREOF, the Lender, the Borrower, the Electronic Agent and MERS have duly executed this Agreement as of the date first above written.

______________________________________,

as Borrower

By:____________________________________

Name:
Title:

Address for Notices:
______________________________________ 
______________________________________ 
Attention:______________________________
Telecopier No.:  ____________
Telephone No.:  ____________

 ______________________________________,
as Lender

By:____________________________________

Name:
Title:

 

Address for Notices:
______________________________________ 
______________________________________ 
Attention:______________________________
Telecopier No.:  ____________
Telephone No.:  ____________


MERSCORP, INC., as Electronic Agent

By:____________________________________

Name:
Title:

Address for Notices:
1818 Library Street, Suite 300

Reston, Virginia 20190

Attn:  Sharon McGann Horstkamp, Esq.

Telecopier No.:  703-748-0183
Telephone No.:  703-761-1270

 

 

MORTGAGE ELECTRONIC REGISTRATION SYSTEMS, INC.,

By:____________________________________

Name:
Title:

Address for Notices:
1818 Library Street, Suite 300

Reston, Virginia 20190

Attn:  Sharon McGann Horstkamp, Esq.

Telecopier No.:  703-748-0183
Telephone No.:  703-761-1270

 


EXHIBIT A

 

LIST OF AUTHORIZED PERSONS

 

LENDER AUTHORIZATIONS:

 

Any of the persons whose signatures and titles appear below, or attached hereto, are authorized, acting singly, to act for the Lender under this Agreement:

 

 

By:__________________      By:____________________        By:_____________________

 

Name: _______________       Name: _________________         Name: __________________

 

Title: ________________       Title: __________________         Title: ___________________

 

 

ELECTRONIC AGENT AUTHORIZATIONS:

 

Any of the persons whose signatures and titles appear below, or attached hereto, are authorized, acting singly, to act for the Electronic Agent under this Agreement:

 

 

By:__________________      By:____________________        By:_____________________

 

Name: _______________       Name: _________________         Name: __________________

 

Title: ________________       Title: __________________         Title: ___________________

 

 

MERS AUTHORIZATIONS:

 

Any of the persons whose signatures and titles appear below, or attached hereto, are authorized, acting singly, to act for MERS under this Agreement:

 

 

By:__________________      By:____________________        By:_____________________

 

Name: _______________       Name: _________________         Name: __________________

 

Title: ________________       Title: __________________         Title: ___________________

 

 

 


BORROWER AUTHORIZATIONS:

 

Any of the persons whose signatures and titles appear below, or attached hereto, are authorized, acting singly, to act for the Borrower under this Agreement:

 

 

By:__________________      By:____________________        By:_____________________

 

Name: _______________       Name: _________________         Name: __________________

 

Title: ________________       Title: __________________         Title: ___________________


EXHIBIT B

MERS PROCEDURES MANUAL

 

Shall be found on the MERS website at: http://www.mersinc.org
EXHIBIT C

 

NOTICE OF DEFAULT

 

_____________ ___, _____

 

Attention:        Sharon M. Horstkamp

MERSCORP, Inc.
1818 Library Street, Suite 300

Reston, Virginia 20190

 

Ladies and Gentlemen:

Please be advised that this Notice of Default is being issued pursuant to Section 4(b) of that certain Electronic Tracking Agreement (the “Electronic Tracking Agreement”), dated as of  _______________, 200_, by and among                 (the “Lender”), the                   (the “Borrower”), MERSCORP, Inc. (the “Electronic Agent”) and Mortgage Electronic Registration Systems, Inc. (“MERS”).  The Affected Loans are listed on the attached Schedule 1 (including the mortgage identification numbers).  Accordingly, the Electronic Agent shall not accept instructions from the Borrower, the Servicer, any subservicer and from no party other than the Lender with respect to such Mortgage Loans, until otherwise notified by the Lender.

Any terms used herein and not otherwise defined shall have such meaning specified in the Electronic Tracking Agreement.

 

___
By:_________________________________
Title:_______________________________


EXHIBIT D

CORPORATE RESOLUTION

 

Please Attach



Quote 0 0
William A. Roper, Jr.
Those who take an interest in this thread might also want to familiarize themselves with the MERS Milestone Report:

"The MERS Milestone Report"

http://ssgoldstar.websitetoolbox.com/post?id=5367215

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