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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What does it mean when they say foreclosure action was/is brought in the name of MERS?  New to this to me and I will admit that I know very little.  If things don't turn around for me shortly, I will be in f/c and I have been trying to educate myself.  I did research what MERS was suppose to do and how they have screwed up property titles across the country.  Read an article from MERS stating that banks should not be bringing f/c action in their name.  Does this mean that the plaintiff is MERS; example, MERS vs. Homeowner?  And another silly question, if MERS does not own anything why would MERS be bringing suit?  Thanks to all for your input.

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William A. Roper, Jr.
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Don't Judge me said:
What does it mean when they say foreclosure action was/is brought in the name of MERS? New to this to me and I will admit that I know very little. If things don't turn around for me shortly, I will be in f/c and I have been trying to educate myself. I did research what MERS was suppose to do and how they have screwed up property titles across the country. Read an article from MERS stating that banks should not be bringing f/c action in their name. Does this mean that the plaintiff is MERS; example, MERS vs. Homeowner? And another silly question, if MERS does not own anything why would MERS be bringing suit? Thanks to all for your input.


Yes, in judicial foreclosure states, bringing an action in MERS' name would mean that MERS is the plaintiff.

This was very common prior to 2008 in respect of MERS mortgages, although only some of the subprime mortgage origination was in MERS instruments.

After MERS lost a couple of Circuit Court cases in Florida, the industry somewhat retrenched.  Fannie Mae prohibited its servicers from foreclosing in MERS' name in December 2007.  MERS has recently changed its rules to prohibit its members from suing in MERS' name.

This was NEVER really legal ANYWHERE.  It was ALWAYS A FRAUD.  MERS never owned the promissory note and had no economic interest in the loan.

Due to the Rule change, MERS will NOT be bringing any more such suits.  For those who face foreclosure in the future, this should be a non-issue.  But still of issue is the legality of assignments purported to be executed on behalf of MERS by servicer employees.


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Bill
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 If things don't turn around for me shortly, I will be in f/c and I have been trying to educate myself
 


 
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I did research what MERS was suppose to do and how they have screwed up property titles across the country.  Read an article from MERS stating that banks should not be bringing f/c action in their name.


It's great you have an opportunity to educate yourself about foreclosure PRIOR to receiving the complaint, once you receive a foreclosure complaint you have a very limited time to respond in some way or risk a default judgment.  I do think it is important to focus your research.  Rather than research MERS, it may be a good time to start with are you in a Judicial or Non-Judaical state and learn what the foreclosure process will be.  In a Non-Judicial state you may not have an opportunity to go to court, the foreclosure will actually involve a private sale. 

Prior to receiving a foreclosure complaint may also be a good time to find an attorney.  Many attorneys offer a free consultation.  There are a few posts on the forum with good questions to ask a potential attorney.
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DJM,   This is the forum you need to read. You will educate yourself here. There is a lot of info. And not to mention, you can ask if you do not understand something. There are people that will put it to you clearly. After you are finished reading a post, you will understand it. If not than just ask.

And keep in mind, there are no silly questions as you stated. If you don't ask those silly questions than you will not learn.

I wish you Luck.

cmc
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How can I get a Quite Titile in California?
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