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 IF
Got this from another site:

So, why do you think the press is leaking and releasing all this information about foreclosure fraud? Don’t think this is an accident.

This is the same action/reaction method of policy manipulation.

My theory is that they want people to get angry and demand the government to step in and “do something”. Here’s what they government wants to do:

- Make MERS the official registry of all deeds and mortgages. Once they make MERS part of the government, and all records on MERS become “public record” and official…This will cut down the number of foreclosure defenses homeowners will use. We all know that MERS have no standing to assign anything to anyone.

Think about it. It’s very clean. All the lawsuits from the States will quietly go away. The Federal government will have even more control over our lives. And once again, our fat Bankster friends are protected. All misdeeds forgiven and forgotten.


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Moose
I don't believe there is any legitimate path for the Federal government to dictate how states establish property law.

In the extant situation, state legislatures simply let the industry get away with dodging local recording requirements.

It was convenient. Then it was perverted by the opportunists and the states have no one but themselves to blame.

The incestuous relationship between the legal profession and how property laws are drafted and implemented escapes most consumers and borrowers.

Oh, did I mention - it's an election year.

Moose












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How about, NO, period.


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anon
Property law may be a state issue but the banks have federal oversight.(cough cough).

No one has figured out who has jurisdiction over MERS but isn't it incorporated in Delaware? Correct me if I am wrong.
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Moose
anon wrote:
Property law may be a state issue but the banks have federal oversight.(cough cough).

No one has figured out who has jurisdiction over MERS but isn't it incorporated in Delaware? Correct me if I am wrong.


MERS cannot rely on Delaware for their performance under the property laws of other states.

Every state has jurisdiction over how MERS operates in their state no matter where they were incorporated.

Moose

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Moose is correct in concept... however it is time for each and every American to get involved in local & state legislative activity.. WATCH THEM VERY CLOSLEY & LET THEM KNOW YOU ARE WATCHING!!!! The article below unveils yet another scheme by the TBTF banks & Hedge Funds to confiscate property from American people.... yet another facet to this mess! 


http://axisoflogic.com/artman/publish/Article_61431.shtml
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Following up on my 10/18/2010 post, here it is.  

This was posted by Neil Garfield over at livinglies, pretty scary stuff if it goes through.  We need to make sure it does't pass!!!!!

After years of negative judicial decisions about the use of a straw-man on mortgages, MERS was about to lose its existence as well as its credibility. But now all of that is set to change as Wall Street money is pouring into the coffers of those who are receptive (i.e., almost everyone in Congress). The legislation is already being drafted under the interstate commerce clause to ratify MERS and everything it did retroactively. It appears that the Obama administration is ready to pardon all the securitization deviants by signing this bill into law. This information is corroborated by several people who are in sensitive positions — persons who would be the first to know such proposals. Fortunately, there are some people in Washington who have a conscience and do not want to see this happen.

Besides the obvious seediness of this maneuver, it runs roughshod over state property laws, and the rights of investors, homeowners and borrowers. It amounts to a permanent installation of a Federal system that supersedes the county records for recording property rights. Off-record comments I’ve heard from people in power are outraged at this assault on states’ rights. But these people are not legislators, who are getting promises larger than anything in your imagination, if they will support such a bill. It might be couched as a uniform law to be adopted by the states to get around the states rights issues, but it will permanently remove some of the power over property that lies solely within the jurisdiction of the states and place it preemptively within federal jurisdiction.

All of this is scheduled to happen during the lame duck session of congress between now and the end of the this year, 2010. That means in a manner of days, some bill that may look like it has nothing to do with property, mortgages or foreclosures is going to have attached to it a provision whose effect will go even further than the notarization bill that went through Congress like S–t through a goose and almost got signed by the President. We caught that one AFTER it was passed by Congress unanimously but before Obama signed it.

We announced it as an attempt at a presidential pardon to all those who committed crimes in the notarization of documents that were fabricated and forged, all those who committed forgery and perjury and all those who created counterfeit documentation that was presented to courts as original documents.

This time we got the information, we think, before it was stitched into some innocuous looking bill.  If we don’t find it and block it, the plight of homeowners will get that much worse


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