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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    Now would be an excellent time for someone to raise the defense of Jerome Daly vs First National Bank of Montgomery, Minnesota Dec 7, 1968.    In this case Daly proved that the bank in question created the credit for a mortgage loan out of nothing by entering a credit on its books, ie there was no deposit in the bank to cover the loan. Daly also proved that this was standard procedure for Federal Reserve Bank members. Mr Morgan, the president of the plaintiff bank and a former officer with Bank of America, testified that this was standard procedure in the banking business and was allowed by Federal Reserve rules. He also was unable to cite any law which made this permissable under the Constitution and Laws of the United States.

    The Judge (Martin V. Mahoney) and the Jury ruled in favor of Daly that since the loan itself was unlawful, the Note and Mortgage were unenforceable. The decision was never appealed and the Judge was killed six months later under suspicious circumstances (ie assassinated). I believe this incident was not forgotten by other Judges and explains why they are afraid o go against this corrupt banking system on fundamental grounds.

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This is known as the Credit River decision that is in the MSF Legal Lounge.

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The "Credit River decision" is a legal nullity. It was a rogue Justice of the Peace acting outside his jurisdictional authority and the  attorney who filed the case was eventually disbarred for filing more cases like it.
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From Minnesota law library:

                                                        In the late 1960s, attorney Jerome Daly was a defendant in an unlawful detainer action in the justice of the peace court in Credit Reiver Township in Scott County, Minnesota. The First National Bank of Montgomery foreclosed on Daly's property and sought possession. The jury and the justice of the peace decided against the bank, agreeing with Daly's argument that the bank had not actually lent him any money, but had simply created credit on its books. Daly argued that since nothing of value had been advanced by the bank, it was not entitled to the property that secured the loan. The justice of the peace, Martin V. Mahoney, entered his decision in defiance of the Minnesota Supreme Court. For conspiracy theorists, we note he died "mysteriously" within 6 months of his decision. Ultimately, the decision of the justice of the peace court was nullified [by the Minnesota Supreme Court] and Daly was subsequently disbarred.

This case made its way onto the Internet, where groups who oppose federal banking laws assert that the case invalidated the Federal Reserve and voided Federal Reserve notes. Even though it has no value as precedent, litigants continue to cite to the case, even as recently as 2007. See Sneed v. Chase Home Fin. LLC, 2007 U.S. Dist. LEXIS 46536, 2007 WL 1851674 (S.D. Cal. June 26, 2007).

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   Thank you for that update. I searched everywhere to find an update, but
could not find it.
    I was not aware that Daly was an attorney. I know he took on the IRS
and he became famous for that.
    The gist of his argument is still true, even if not recognized by the
Minnesota Supreme Court. Daly showed all of us that the commercial banks
were now "monetizing" the value of real estate without any lawful authority.
This is the main reason for the inflation in real estate prices. Only Congress
has the power to coin money and regulate its value. Lawful money is gold
and silver coin which still existed at the time of the Daly case cited. Today,
with no silver money in circulation and only fiat Federal Reserve Notes, his
reasoning is even more on point! How can a bank make a lawful loan when
there is no lawful money in circulation? How can a Court of Law enforce an
unlawful loan of fiat currency which can be created at will by banks out of
thin air.
     The inflation of prices and devaluation of the currency is partly caused
by government deficit spending, but alot of it is caused by fraudulent loans!
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4 justice now
Mike H.

No matter what the final out come was of the original plea, I happen to agree with your logic, and thank-you for you post.


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I raised this issue on my foreclosure and the judge ruled against me.

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Remember the judge or JP was found dead in is fishing boat. Most people are cowards so they don't want to believe it.

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ray lopez

Digger is a banker you can tell. Rouge my but.

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"ray lopez" sounds like the same nut who was here claiming that George Soroka was found dead under suspicious mafia-style murder circumstances.

Mods need to run an IP check on this person.

Meanwhile, "Rouge MY but", "lopez". I am still looking for George Soroka's obit, funny conspiracy theory person. Until I find it (or you provide it) I call BS on you.

No one here is a coward except for maybe YOU....

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