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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William A. Roper, Jr.
Those paying close attention to business and mortgage market news are probably already now aware that MERSCorp President R. K. ARNOLD is retiring as President of MERSCorp, the parent of Mortgage Electronic Registration Systems, Inc.

News reports of the retirement, first reported within the Wall Street Journal on Friday, can be found at:

WSJ: "MERS CEO to Leave Company", By Nick TIMORAOS and John D. McKINNON (January 22, 2011)
http://online.wsj.com/article/SB10001424052748704115404576096462866136394.html [subscription]

Bloomberg: "Merscorp's Arnold Retires as Chief Executive; Bognanno Named Interim CEO" (Jan 22, 2011 6:11 PM ET)
http://www.bloomberg.com/news/2011-01-22/merscorp-s-arnold-retires-as-chief-executive-bognanno-named-interim-ceo.html

HousingWire: "MERS president and CEO R.K. Arnold retires" (Saturday, January 22nd, 2011, 7:35 pm)
http://www.housingwire.com/2011/01/22/mers-president-and-ceo-r-k-arnold-retires

Seems like a timely career move!

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Isn't MERS converting or something to GENPACT, which will be offshore?

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Rich wrote:
Isn't MERS converting or something to GENPACT, which will be offshore?

Thats just another IT outsourcing helpdesk services contract. What'll ya bet they have  a call center in India!!!!!!!
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Sinking Ships
Arnold may see the writing on the wall. Bevilaqua v. Rodriguez is before MA SJC. He may be nervous about this ruling going the way of Ibanez as B v. R. is another Judge Long case.

Believing the chain of title, MERS sold the Rodriguez note directly into the trust on whose behalf U.S. Bank foreclosed the Rodriguez property. According to FRANCIS BEVILACQUA, III v. PABLO RODRIGUEZ @ footnote 1:

"The mortgage at issue was granted by Mr. Rodriguez to Mortgage Electronic Registration Systems, Inc. (“MERS”) as nominee for Finance America, LLC. At the time of US Bank’s foreclosure, MERS has not assigned the mortgage to US Bank. Complaint at 2, ¶¶ 7-8 (Apr. 8, 2010).

Such being the case, the title to the property purchased by Mr. Bevilaqua appears to be significantly clouded.

Arnold has spent the last several months parading around Capitol Hill, testifying to anyone and everyone with a committee capable of creating a public record with regard to MERS. For him to walk away from MERS now is, to say the least, significant.

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Exterminator
Sinking Ships,

Though not a mariner, I think I understand and appreciate your identification of Mr. R. K. Arnold!

- Exterminator

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