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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My original loan was 80/20 split.  I have copies of my "Deed of Trust"  for both mortgages.  Original lender for both mortgages was GEM, trustee on both mortgages was First American Title Co.. It states MERS is a separate corporation acting solely as nominee for lender, MERS is beneficiary under the security instrument.  On the first page of DOT first mortgage grantee is named as MERS.  On the first page of DOT second mortgage grantee is named GEM.  Why is this? 

Can I use the reconveyance clause in this instrument against GEM?
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I forgot to mention in my first post, I have notices of assignment, sale or transfer of servicing rights. These are not included in my "Deed of Trust" I received them in the mail.  They transfer servicing rights from original lender GEM, to WMC, to Option One and last transfer to Chase who has said verbally only they are servicing for Deutsche Bank. 

Thanks for any help or advice that can be given.

Robert P.
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William A. Roper, Jr.

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Robert P. said:

On the first page of DOT first mortgage grantee is named as MERS. On the first page of DOT second mortgage grantee is named GEM. Why is this?


Whether a particular originating Lender or mortgage investor required the use of MERS is up to that Lender or investor.

For more information on MERS, search the Forum for posts using keywords such as "mortgage AND electronic AND registration AND MERS".  See for example, these prior threads:

"Facts About MERS / MERS Unmasked"

http://ssgoldstar.websitetoolbox.com/post?id=2063120

 

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

http://ssgoldstar.websitetoolbox.com/post?id=4841990

 

"The Mortgage Machine Backfires-MERS"

http://ssgoldstar.websitetoolbox.com/post?id=3691198

 

"NY Times Takes a Swipe at MERS"

http://ssgoldstar.websitetoolbox.com/post?id=4934306

 

"Prof. Christopher Peterson's MERS Related Journal Articles"

http://ssgoldstar.websitetoolbox.com/post?id=5197141

 

"Cardozo Law Review: "The Case Against Allowing Mortgage Electronic Registration Systems, Inc. (MERS) to Initiate Foreclosure Proceedings""

http://ssgoldstar.websitetoolbox.com/post?id=5272700


"MERS began as a convenience; has become a cloak"

http://ssgoldstar.websitetoolbox.com/post?id=3441660


This is merely a sampling of some of the useful topics that you might find within the Forum.  Use the Search function to find more.  Do NOT overlook other resources linked from the main MS Fraud page ( http://www.msfraud.org/index.html ), particularly cases posted in the MS Fraud "Law Library/Legal Lounge" ( http://www.msfraud.org/law.html ).
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Sandy
Mr. Roper, what did you think about the settlement with MERS and the cease and desist order that came to light today?

In case you haven't read it:

Calabasas, CA (PRWEB) June 03, 2011

The Office of the Comptroller of the Currency has just signed a Cease and Desist settlement agreement with MERS Corp (Mortgage Electronic Registration Systems). Among other things, the Cease and Desist order finds, “We have identified certain deficiencies and unsafe or unsound practices by MERS and MERSCORP that present financial, operational, compliance, legal and reputational risks to MERSCORP and MERS, and to the participating Members.” (OCC No. AA-EC-11-20; Board of Governors; Docket Nos. 11-051-B-SC-1,11-051-B-SC-2; FDIC-11-194bOTS No. 11-040; FHFA No. EAP-11-01)

http://www.prweb.com/releases/prweb2011/6/prweb8516042.htm



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William A.Roper, Jr.
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 Sandy said:
Mr. Roper, what did you think about the settlement with MERS and the cease and desist order that came to light today? 


The MERS Cease and Desist Order was signed on April 12, 2011, and is old news:


This was presented in another thread:

"New? Federal Cease and Desist Order Against MERS"

The ONLY thing that happened today is that a lawyer put out a news release to gain attention for himself.
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Sandy
So signing a settlement was the lie part, I guess.

I couldn't figure why the link was to the old cease and desist order, yet his article said a settlement was signed. I thought, and hoped, it might have been a development since the order.

It's a shame that we have to put our guard up with attorneys too. But that's just humans, I guess.


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William A. Roper, Jr.
Sandy:

I think that the law firm just issued a news release hoping to get some news mentions or hoping to be quoted in some article relating to MERS to drum up some business.

There are many smaller weekly neighborhood publications where an advertisement also "buys" a story.  The advertiser still has to kind of write the story for them too, as by putting together a news release.

The publication takes the advertiser's money and runs the display ad along with the story which barely passes for real journalism.  But bear in mind that this technique is about as old as our Republic.  Small news outlets are often starved for revenue and advertising and will do what it takes to remain in busines.

While I have no specific knowledge of this firm or its business, the news release does not appear to me to be meritworthy of further discussion at the Forum.
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George Burns
There was no lie or attempt to mislead, in my opinion. People write analyses of new incidents etc all the time. Look at the subtitle, he was just giving his opinion. He might have started writing it way back then.

In this case it just took a small firm using a small publicity outlet longer to get the "news release/article" published. If he had paid one of the large outfits it would have been out much sooner.

I always advise people to take all news, releases, articles or otherwise, with a grain of salt. You should not believe everything you read. Just because someone says it is so, does not make it true etc etc. Verify.
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William A. Roper, Jr.
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George Burns said:
There was no lie or attempt to mislead, in my opinion.  People write analyses of new incidents etc all the time.  Look at the subtitle, he was just giving his opinion.  He might have started writing it way back then.


I AGREE with George that there was no lie or attempt to mislead.  I also would never begrudge a small business person availing themself of an opportunity to market theirs goods or services by issuing a news release that celebrates or analyzes current news events or topics, hoping to get a mention in the print media.
 
This having been said, in my view it was a singularly poorly written news release and was all the more confusing due to its lack of timeliness.  If I issue a news release today giving an inarticulate analysis of the Battle of Gettysburg, there will inherently some who are confused and think that I am writing about a current event, particularly if I write about the battle in the present tense.
 
In poor writing or presentation and/or lack of timeliness, I may be shooting myself in the foot rather than impressing others with my knowledge and insight! 
 
In my view, a person who writes with clarity informs in a user-friendly way.  We can blame the reader for failing to understand, but user-friendly writing or communication minimizes confusion and misunderstanding.  That Sandy was confused by the post is testiment to the inadequacy of what was written and posted. 
 
Incidentally, on a non-mortgage note, I would recommend to anyone who interested in user-friendly design the book "The Design of Everyday Things" by Donald Norman (1990), who teaches that when errors arise in use of a product we ought to look to the design rather than blaming the end user.  This is a great book with a wide application well beyond new product design.
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