Category Archives: MERS

MERS – Mortgage Electronic Registration Systems, Inc.

How We Got Here – The Process of Securitization

 It helps to have some background into how Mortgages used to work (like for the last two hundred years). 1)      A Bank would loan a homeowner money. 2)      The homeowner would sign a  promissory note (note or IOU) promising to … Continue reading

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History - Or how we got here, MERS, The Players

How Mortgages are supposed to be Transferred to a Securitization Trust

There is a growing amount of discussion these days about possible defects in foreclosure proceedings commenced by loan servicers.  A lot of this discussion concerns procedural matters, such as whether the correct steps are being taken to verify the accuracy … Continue reading

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General Advice, History - Or how we got here, MERS, Mortgage Servicers, Overview, The Players

Massachusetts’ demand for Recording Fees and MERS’ Response

Commonwealth of Massachusetts  Southern Essex District Registry of Deeds Shetland Park 45 Congress Street Suite 4100 Salem, Massachusetts 01970  JOHN L. O’BRIEN, JR. Register of Deeds Phone: 978-542-1704 Fax: 978-542-1706 website: www.salemdeeds.com      NEWS FOR IMMEDIATE RELEASE Salem, MA … Continue reading

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Foreclosure Stories, MERS, The Players

The Problem with Mortgage Assignments

During the roaring 2000’s, banks were in such a hurry to create mortgages and sell them on in the secondary market that they were careless with their paperwork; particularly with mortgage assignments.  When foreclosures started coming in, many of the … Continue reading

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Foreclosure Defenses, Foreclosure Fraud, General Advice, History - Or how we got here, MERS

MERS takes a hit in New York

In a Bankruptcy case handed down 6 days ago, MERS took a big hit.  Even though the Bankruptcy Court upheld the foreclosure, they said it wouldn’t be business as usual for MERS there anymore. Before anyone jumps for joy about … Continue reading

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Foreclosure Defenses, Foreclosure Stories, MERS, The Players

WHAT IS A SERVICER?

The servicer is YOUR mortgage company. It is the company that handles the day-to-day tasks associated with managing your loan. Their duties include but are not limited to: Collecting and remitting loan payments Responding to borrower inquiries Making advances when … Continue reading

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MERS, Mortgage Servicers, The Players

MERS has no standing to Foreclose in Kansas

A landmark ruling in a recent Kansas Supreme Court case may have given millions of distressed homeowners the legal wedge they need to avoid foreclosure. In Landmark National Bank v. Kesler, 2009 Kan. LEXIS 834, the Kansas Supreme Court held that … Continue reading

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Foreclosure Defenses, MERS

Fraud On The Court

FRAUD ON THE COURT InUS Bank v. Harpster the Law Offices Of David J. Stern committed fraud on the court by the evidence based on the Assignment of Mortgage that was created and notarized on December 5, 2007. However, that purported creation/notarization date … Continue reading

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Foreclosure Defenses, MERS

COURTS FIND ISSUES WITH MERS

COURTS FIND ISSUES WITH MERS Federal and state judges across America are realizing that the mortgage industry’s nominee is backfiring. In Mr. Arnold’s own words, “For these servicing companies to perform their duties satisfactorily, the note and mortgage were bifurcated. … Continue reading

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MERS

MERS – The Quarterback

  MERS has evolved into a totally different purpose today. Mortgage Electronic Registration Systems, Inc. is a wholly owned subsidiary of MERSCORP Inc., located at 1595 Spring Hill Rd Ste 310 Vienna, VA 22182. MERS was founded by the mortgage … Continue reading

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MERS, The Players