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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MERS is down for the count in NY, here is a prime example of why NY is leading the charge for MERS' demise. 

This case also calls Steven J. Baum's master "Robo-Signer" Elpiniki Bechakas into question again.  When is somebody going to depose her and make an example of this behavior!

"Secondly, an assignment from MERS to plaintiff is defective, as MERS had no right or authority to assign the mortgage or the note. Bank of NY v Silverberg, supra. "The plaintiff, which merely stepped into the shoes of MERS, its assignor, and gained only that to which its assignor was entitled . . . did not acquire the power to foreclose by way of the . . . assignment." Id. "

"Further, it must be noted that the execution of an Assignment of Mortgage by MERS is barred by the Settlement Agreement between the US Attorney's Office on behalf of the United States of America and the Office of Steven J. Baum P.C. and Pillar Processing, LLC, dated October 6, 2011, which states at paragraph 14 that "Baum shall no longer permit anyone employed by or contracted by Baum to execute any assignment of a mortgage as an officer, director, employee, agent or other representative of MERSCORP, Inc., and/or Mortgage Electronic Registration Systems, Inc." The office of Mr. Baum was the attorney for the plaintiff when this matter was commenced, the assignment at issue is stamped "Pillar Processing LLC" and is signed on behalf of MERS by Elpiniki M. Bechakas, an attorney in the office of Steven J. Baum, according to the public internet attorney registration website maintained by the State of New York."

Here is the link to the decision.
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