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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James
The UCC say bulk purchasers cannot be holder in due course. How does the affect the chain of title for MERS (agent) and its hidden principals? Or does it apply at all?
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James
I should have said bulk purchasers are not always the holder in due course. For clarity:

§ 3-302. HOLDER IN DUE COURSE.

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(c) Except to the extent a transferor or predecessor in interest has rights as a holder in due course, a person does not acquire rights of a holder in due course of an instrument taken (i) by legal process or by purchase in an execution, bankruptcy, or creditor's sale or similar proceeding, (ii) by purchase as part of a bulk transaction not in ordinary course of business of the transferor, or (iii) as the successor in interest to an estate or other organization.

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