Foreclosure Daily News Update ⋅ May 31, 2022

 

FRAUD STOPPERS NEWS

 

Foreclosure Pressure Not Easing for Some Minnesotans – Public News Service

Public News Service

The Federal Reserve Bank of Minneapolis recently reported nearly 10 rural Minnesota counties had foreclosure rates of at least 1%. The Minnesota …

     
 

Photos: $960K acreage near Osceola – The Des Moines Register

The Des Moines Register

Here’s what to know about the foreclosure of Valley West Mall · Development. Valley West Mall in West Des Moines is in foreclosure.

     
 

Massachusetts ranks 35th in recent foreclosure filing analysis – The Center Square

The Center Square

(The Center Square) – Massachusetts placed in the lower half of all states for recorded foreclosure filings in the first quarter of 2022, …

Foreclosure Rate Lowest in Over Two Decades – Pinterest – Pinterest

Full Coverage

     
 

6/21/2022 at 10:00 a.m. CV012119912 – Ada County Sheriff

Ada County

Under and by virtue of a Writ of Execution on Judgment Foreclosure issued on April 20, 2022, and an Order of Sale and Decree of Foreclosure issued …

     
 

Millions of dollars still available to help struggling Arizonans pay mortgages, other bills – 12 News

12 News

“I actually fell into pre-foreclosure.” However, things started looking up when Durham found the Arizona Homeowners’ Assistance Fund.

     
 

JASON B. STANTON v. BRENNAN FERGUSON, ET AL | Maryland Daily Record

Maryland Daily Record

Real property — Foreclosure sale — Pre-sale objections This case arises out of a foreclosure proceeding that was complicated by the COVID-19 …

     
 

“My Lawyer Made Me Do It” is Not an Absolute Defense to Bankruptcy Court Sanctions

Ward and Smith, PA

Shellpoint commenced foreclosure, then represented to the Beckharts that it was ceasing foreclosure, but then posted a foreclosure hearing notice …

Columbus Foreclosure Defense Lawyer | Save Your Home – Law Office of Matthew Doyaga, LLC – Law Office of Matthew Doyaga, LLC

Full Coverage

     
 

Trustee Sale 18342 Christanna Highway | Foreclosures | brunswicktimes-gazette.com

Brunswick Times-Gazette

Bostick, County Surveyor, dated June 12, 1946, recorded in the Clerk’s Office of the Circuit Court of Brunswick County, Virginia in Deed Book 104, …

Find Exclusive Deals – Online Property Auctions & Foreclosures for Sale – Auction.com – Online Property Auctions & Foreclosures for Sale – Auction.com

22 SP 15 NOTICE OF FORECLOSURE SALE NORTH CAROLINA, LEE COUNTY – The Sanford Herald

Full Coverage

     
 

Upcoming Foreclosures as of May 31, 2022 – NY Daily Record

NY Daily Record

All auctions are held in the Foreclosure Auction Area, Hall of Justice – Lower Level Atrium, 99 Exchange Blvd., Rochester, N.Y. 14614 Download a …

     
 

LEGAL NOTICE SUPREME COURT OF THE STATE OF NEW YORK COUNTY OF SENECA

Finger Lakes Times

THE SEVENTH JUDICIAL DISTRICT FORECLOSURE AUCTION PLAN, INCLUDING SOCIAL DISTANCING AND PROPER USE OF MASKS AS MAY BE IN EFFECT AT THE TIME OF SALE.

     
 

I’m the chief economist of Redfin. Here are 5 you should know about the housing market now

MarketWatch

So we asked Daryl Fairweather — Redfin’s chief economist, who also worked at the Boston Fed studying why homeowners enter foreclosure — to share …

     
 

Looking to buy a home? Not so fast – MSN

MSN

April foreclosures were also down, albeit slightly, from March, … Last but not least, Rhode Island saw 26 homes go into foreclosure in April.

     
 

Homeowner and rental vacancy rates declined during COVID-19 pandemic

San Marcos Corridor News

Foreclosure Crisis and Recovery. The most current vacancy rate estimates reflect tightening housing market conditions over the decade from 2009 to …

     
 

Lender plans unusual loan sale on Chinese developer’s troubled NJ project – The Real Deal

The Real Deal

Parkview, moving forward with a UCC foreclosure, is also marketing its loan on condo project … An affiliate of Chinese developer Hongkun is likely …

Ft – MyRegioSurf.de – MyRegioSurf.de

Full Coverage

     
 

New program aims to help Venice and Nokomis residents with affordable housing crisis

Sarasota Herald-Tribune

The program’s goal is to help families stay in their current homes and avoid eviction or foreclosure, or help with down payments for new rentals.

     
 

Looking to buy a home? Not so fast – MSN

MSN

Slide 3 of 32: With 481 of a total 8,322,722 housing units in foreclosure,. Slide 4 of 32: Texas’s total number of foreclosures was only 645.

     
 

Government assistance available for home ownership issues caused by COVID-19 | News

Hometown Source

Minnesotans who have fallen behind on their mortgages and face a foreclosure due to a financial hardship caused by the COVID-19 pandemic can now …

How can a bankruptcy law attorney help with foreclosure? – The Smith Law Offices, PC

Full Coverage

     
 

The ‘Great Reshuffling’ played a big part in pushing home prices higher – WESH

WESH

… up and that may be the case when you come across *** house in foreclosure, but once you’ve found that promising listing, how do you secure it?

     
 

Fitch Affirms CD 2018-CD7; Revises Two Outlooks to Stable

Fitch Ratings

… and the special servicer is dual tracking negotiations with the borrower and seeking foreclosure. The second largest specially serviced loan, …

     
 

Legals for May, 31 2022 | Shoshone News-Press

Shoshone News-Press

The default for which foreclosure is made is grantor’s failure to pay when due the following sum: TOTAL REQUIRED TO REINSTATE: $6,991.81 TOTAL …

Tax Foreclosure Frequently Asked Questions – City of Rochester – City of Rochester

Revised Statutes of Missouri, RSMo Section 92.775 – Missouri Revisor of Statutes – MO.gov

19-111567 NOTICE OF MORTGAGE FORECLOSURE – Bemidji Pioneer & More Mortgage News – World Latest News, Videos, Photos, Breaking News, & World News Headlines

Full Coverage

     
 

Steuben County sets dates for property tax auction – YouTube

YouTube

Foreclosure Auction Guide – PropertyRadar.com (formerly ForeclosureRadar.com) #foreclosure #auction. PropertyRadar. PropertyRadar.

     
 

10-year-old arrested for mass shooting threat, Florida deputies say | WFLA

WFLA

VA’s foreclosure of disabled vet’s home inches forward · Video. Top Stories. Tampa Bay woman, 100, asked to prove she’s alive. 4 days ago Video …

     
 

Meet Todd Chrisley’s Gay Lover’s Wife Leslie Braddock! – All About The Tea

All About The Tea

… while Braddock worked for Chrisley’s foreclosure management company. Braddock testified that the texts said to “pay cash and we’ll shut up.

     
 

WHO: Monkeypox won’t turn into pandemic, but many unknowns | WFLA

WFLA

Top Stories. Elderly Brandon woman charged for iPhones she didn’t … Video. Top Stories. VA’s foreclosure of disabled veteran’s Bradenton …

     
 

Renowned Florida Trial Attorney, Announces New, Modern Website – Digital Journal

Digital Journal

Mortgage Foreclosure Disputes. HOA/Condo Disputes. Land Disputes. Employment Disputes. Mr. Chase is also a Florida Supreme Court Certified …

Mark Adams Mediation Attorney | Foreclosure Mediation Attorney in New Mexico | Mediation.com – Mediation.com

Full Coverage

     
 

The head of the government’s financial watchdog is looking for signs of consumer inflation stress.

Bollyinside

“We are seeing some increases, as expected, in distress and foreclosure, but it’s certainly not at a panic level,” Chopra said. “But we are keeping a …

     
 

What Is Delinquent Tax Liabilities? – ictsd.org

ICTSD

How Long Can You Not Pay Property Taxes Before Foreclosure Wisconsin? What Are Unpaid Tax Liabilities? This piece will summarize the key takeaways.

     
 
WEB  

6/7/2022 (3) – Collin County Foreclosure Notices

Collin County Foreclosure Notices

Foreclosure Notices. Foreclosure Notices. Show/Hide Filter. List Filters. Sale Date … Foreclosure List. 17490 Meandering Way 2503 Dallas, …

     
 

Collin County Foreclosure Notices

Collin County Foreclosure Notices

Foreclosure Notice (Download PDF). Page: 1. Notice Page 1. Page: 2. Notice Page 2. Page: 3. Notice Page 3. Page: 4. Notice Page 4.

     
 

Solved: Chapter 6 Problem 50E Solution | Basic Statistics For Business And Economics 9th Edition

Chegg

The monthly foreclosure rates for a specific bank are 1 out of every 136 … Calculate the expected value of foreclosures for the loans approved …

     
 

Ꮪhould Ι Sell Mү House Аs Α Short Sale Or Α Foreclosure? – Istituto Maddalena di Canossa – Pavia

Istituto Maddalena di Canossa – Pavia

Ιf y᧐u ɑre facing foreclosure and ⅼooking f᧐r ɑ way ⲟut, ʏоu neеԁ tߋ кnoᴡ һow tⲟ sell у᧐ur house fаst. Finding local һome buyers cаn Ƅe …

     
 

Ѕhould I Sell Ⅿy House Аѕ А Short Sale Ⲟr A Foreclosure? – Istituto Maddalena di Canossa – Pavia

Istituto Maddalena di Canossa – Pavia

Ιf үօu ɑrе facing foreclosure ɑnd ⅼooking fⲟr ɑ ԝay οut, yоu neeɗ tο кnoѡ how tօ sell уօur house fɑst. Finding local home buyers ⅽаn ƅe …

     
 

Ꮪhould І Sell Ꮇү House As А Short Sale Оr A Foreclosure? – Istituto Maddalena di Canossa – Pavia

Istituto Maddalena di Canossa – Pavia

Ӏf y᧐u аre facing foreclosure аnd looking for а ᴡay ߋut, yⲟu neeԀ to кnow how tߋ sell yοur house fаѕt. Finding local home buyers cаn Ье …

     
 

Stop Foreclosure ! – legal services – craigslist: western IL

craigslist: western IL

Stop Foreclosure & ⤵️ Lower Your Payment. Mediator Loan Modification Payments Programs. 🏘️ Goto Our Website & Apply Today.

     
 

NY Foreclosure Relief | LinkedIn

linkedin.com

NY Foreclosure Relief | 415 (na) tagasubaybay sa LinkedIn. Sell your house fast in Queens, Brooklyn, Nassau and Bronx, New York.

     
 

Foreclosure – Legal Assistant – Timothy D Padgett PA Law Group – Monster Jobs

Monster Jobs

RESPONSIBILITIES: Drafting assignments, motions, affidavits, and various other legal documents. Filing documents through Court E-Filing System or …

     
 

Port Neches, TX Foreclosed Homes For Sale

homes.com

Port Neches, TX foreclosed homes for sale and MLS Listings. View listing photos, nearby sales and find the perfect home for sale in Port Neches, …

     
 
Mortgage Fraud Daily News Update ⋅ May 31, 2022  
FRAUD STOPPERS NEWS  

Wells Fargo Fires Loan Officers Accused Of Abusing Appraisal Waivers

National Mortgage Professional

Wells Fargo has been cracking down on loan officers in the past few weeks over … borrowers, lenders and taxpayers are protected from loan fraud.

     
 

Dad gives emotional statement after daughter dupes him with mortgage fraud | St Helens Star

St Helens Star

Raymond Roughley’s statement was read out at Liverpool Crown Court on Monday, May 30 after his daughter Clare was convicted on one count of mortgage …

Convicted scammer sentenced after duping dad with mortgage fraud & More Mortgage News – World Latest News, Videos, Photos, Breaking News, & World News Headlines

Full Coverage

     
 

Lloyds Bank warns customers on rising advance fee loan scams – Yahoo News

Yahoo News

Loan scams happen when a victim is asked to pay an upfront fee for a loan, the bank said on Monday. Reports of this type of fraud have already …

2022 – Santander hot on his heels for fraud prevented me from getting a mortgage – Archyworldys – Archyworldys

Full Coverage

     
 

Ultimate scam guide: How to avoid scams targeting Georgia’s older adults

Atlanta Journal-Constitution

Reverse Mortgages. Once you reach 62, you can apply for a home equity loan known as a reverse mortgage to turn your home’s equity into cash. But there …

     
 

Checks & Imbalances: Election Results, Ethics Investigations, And A $10 Loan – Forbes

Forbes

Glencore’s former CEO Ivan Glasenberg retired in 2021. GETTY IMAGES. Trump Must Testify In New York Financial Fraud Probe, Court Says. “A New York …

     
 

UK Mortgage Lending Slows Unexpectedly as Borrowing Costs Rise – Bloomberg

Bloomberg.com

UK mortgage lending slowed unexpectedly as the cost of borrowing rose again, indicating headwinds for the housing market.

     
 

Applying for a loan? Beware being asked to pay an upfront fee as Lloyds says scams have …

Money Saving Expert

Tell-tale signs of an ‘advance loan fee’ scam · Legitimate lenders will NEVER request upfront payment · If you’re worried you’ve been scammed, here’s …

     
 

INTERPOL arrests four Nigerians for cybercrime, fraud | The Guardian Nigeria News

The Guardian Nigeria News

INTERPOL, in collaboration with the Economic and Financial Crimes Commission, has arrested three Nigerians in connection to cyber fraud.

     
 

She drank beers in a city car, ran commissioner’s errands. She still works for Miami – Miami Herald

Miami Herald

… Nillo was charged by the feds in a South Florida mortgage fraud case. … companies” used to launder fraudulently obtained loan proceeds.

Rampant Deed Fraud Finally Being Addressed By Florida Counties – MFI-Miami – MFI-Miami

Full Coverage

     
 

Identifying your unfair advantage | Financial Reporter

Financial Reporter

In the latest Mortgage Insider Podcast, Barclays BDM Claire MacPhail delivers a fascinating interview with Ash Ali and Hasan Kubba – authors of the …

     
 

Mortgage lending falls 56% in April as inflation fears rise: BoE | Financial Reporter

Financial Reporter

Net residential mortgage borrowing decreased to £4.1 billion in April, down 56% from £6.4 billion in March, according to the latest Money and …

     
 

Lloyds bank issues urgent warning over new scam – here’s how it targets victims – Daily Star

Daily Star

Loan scams are a type of scam involving paying an upfront fee to a company appearing to offer you a loan. Reports of this scam has increased by …

     
 

Okorocha denies N2.9b fraud charge, court hears bail application today

The Guardian Nigeria News

Federal High Court, Abuja, will today, hear the bail application filed by the former governor of Imo State, Rochas Okorocha.

     
 

Barry Callebaut factory in Wirral closes with 62 job losses – BBC News

BBC

‘I just want this nightmare to end’ – Dad devastated after daughter deceives him with mortgage fraud. External: St. Helens Star.

     
 

France blames ticket fraud for Champions League final chaos | KWKT – FOX 44

FOX 44

France blames ticket fraud for Champions League final chaos … Mortgage on Killeen home of Gold Star Family paid …

     
 

BuildLoan and Buckinghamshire BS launch short-term mortgage | Financial Reporter

Financial Reporter

Self and custom build finance specialist, BuildLoan, has created a short-term mortgage for builders who need to fund the construction of their …

     
 

Practical Protection Podcast: Financial Vulnerability Taskforce

Financial Reporter

I was shocked to hear that there was £137 billion lost to fraud in the UK alone last year. You can listen to the episode at: …

     
 

The Tipton partners with interest-free equity loan provider Even | Financial Reporter

Financial Reporter

First-time buyers can buy their home with just a 7% deposit using an Even equity loan and a Tipton mortgage. Modelled on the Help to Buy scheme, but …

     
 

Imla welcomes MPowered Mortgages as new member

Mortgage Finance Gazette

The Intermediary Mortgage Lenders Association (Imla) has named MPowered Mortgages as the latest member to join its fold.

Types of Mortgage Fraud | The Ascent & More Latest News – News

Full Coverage

     
 

France blames ticket fraud for Champions League final chaos – WTMJ

WTMJ

People with legitimate tickets bought through Liverpool and UEFA reported struggling to access the stadium. “There was massive fraud at an industrial …

     
 

Washington’s Savi Looks to Make a Splash with Orca Bank

Banking Exchange

Earlier this year, the firm relocated the existing Freeland branch to a new location and formed a mortgage lending division.

     
 

Net mortgage borrowing plummets in April, shows BoE data

Mortgage Finance Gazette

Meanwhile, mortgage approvals for house purchases dropped from 69,500 to 66,000 and from a value of £16.8bn to £16.1bn. At the same time, remortgage …

     
 

BEST BAD CREDIT LOANS WITH GUARANTEED APPROVAL | NO CREDIT CHECK LOANS

Tacoma Daily Index

How to Spot a Scam Before You Become The Victim Of A Bad Credit Loan Fraud. Does A Lender Contact You Directly? A lender will only contact you if …

     
 

France blames ticket fraud for Champions League final chaos | Associated Press – Herald and News

Herald and News

France blames ticket fraud for Champions League final chaos. By ROB HARRIS AP Global Soccer Writer; May 30, 2022 … Free Mortgage Contest …

     
 

APRA alert for loan repayment shock – AFR

AFR

The prudential regulator says it has targeted some banks for lending to home loan customers that carry too much debt.

     
 

Blog: Look forward with insight – Mortgage Finance Gazette

Mortgage Finance Gazette

The risks presented by the changing climate are stark. Based on our data, we know that approximately 4000 properties are at substantial risk from …

     
 

FRAUD INVESTIGATOR UNCOVERS LIBERALS BRIBES FOR DAYCARE LICENCES – Benzinga

Benzinga

MISSISSAUGA, ON, May 30, 2022 /CNW/ – After an 8 year investigation into Ontario daycare licensing fraud and corruption, eminent Fraud …

     
 

Credit card borrowing hits 16-year high as mortgage approvals crash, says BofE – Money Expert

Money Expert

Mortgage borrowing dropped by over a third in April, while credit card borrowing rose to a 16-year high as the cost of living crisis begins to hit …

     
 

Alarm as mortgage borrowing dives and credit card debt soars – Yahoo Finance

Yahoo Finance

Santander dragging its heels over fraud stopped me getting a mortgage. Reader warned bank of fraudulent account and subsequent loan but it took no …

     
 

German police mount raids in COVID-19 aid fraud probe – WTMJ

WTMJ

BERLIN (AP) — Police raided homes and offices in northern and western Germany on Tuesday as part of an investigation into a case involving five …

     
 

German police mount raids in COVID-19 aid fraud probe | KWKT – FOX 44

FOX 44

German police mount raids in COVID-19 aid fraud probe. Posted: May 31, 2022 / 06:37 AM CDT … Mortgage on Killeen home of Gold Star Family paid …

     
 

FinTech innovator Nivo partners with Alpha Asset Finance on app to fight fraud

Asset Finance International

… a mobile app designed to combat rising fraud in the specialist finance … in the mortgage and commercial sectors including Ultimate Finance, …

     
 

Help to Buy deadline brought forward to October 2022 | Financial Reporter

Financial Reporter

Related topics: Finance News, Mortgages. Rozi Jones. 30th May 2022. calendar. AddThis Sharing Buttons. Share to Facebook Share to Twitter Share to …

     
 

‘No brainer!’ Man, 40, explains how he’s made £4000 extra to help pay off mortgage – Daily Express

Daily Express

Mr Lavender estimates around 99 percent of his purchases are available with cashback, and some of the products he has made money back on include his …

     
 

April sees drop in mortgage approvals from historic high – Irish Examiner

Irish Examiner

There has been a slowdown in the number of mortgages approved with €1.2bn in new loans issued by Irish banks in April.

     
 

UK mortgage approvals fall to lowest level since June 2020 – Yahoo News

Yahoo News

According to the latest figures from the Bank of England (BoE) on Tuesday, there were 65974 mortgages approved in April, down from 69531 the month …

     
 

France blames ticket fraud for Champions League final chaos – Sault Ste. Marie News

SooToday.com

France blames ticket fraud for Champions League final chaos … Spotlight. How to get a private mortgage with bad credit in Sault Ste Marie.

     
 

Riskified Ltd. Securities Fraud Class Action Lawsuit Pending: Contact Levi & Korsinsky … – Benzinga

Benzinga

New York, New York–(Newsfile Corp. – May 30, 2022) – Levi & Korsinsky, LLP notifies investors in Riskified Ltd. (“Riskified Ltd.” or the …

     
 

Ocean Couple, Son Indicted In Military Parts Fraud Scheme: US Attorney | Manchester, NJ Patch

Patch

Ocean Couple, Son Indicted In Military Parts Fraud Scheme: US Attorney – Manchester, NJ – The owners of Monmouth Marine are accused of swapping …

     
 

Mortgage approvals fall following interest rate rises – City AM

City AM

Mortgage approvals have fallen to the lowest level seen since the peak of the UK’s house-buying frenzy in June 2020, according to official data …

     
 

Efficiency, Processing, Expat, Underwriting Tools; Events This Week and Next; Rates Head Higher

Mortgage News Daily

Successful loan officers clearly see this as a major diversification tactic for today’s market… Do you? Join us for the National Mortgage Professional …

     
 

How Machine Learning Can Prevent Credit Card Fraud – BBN Times

BBN Times

After implementing the technology for the purpose, the bank reduced the number of false positives in fraud detection by 60% and reported a 50% …

     
 

7 Video Game Characters Ranked By How Likely They Would Be To Commit Tax Fraud

Kotaku Australia

Committing tax fraud is something most of us probably wouldn’t ever … a ridiculous mortgage on them without a contract or lawyer present?

     
 

Widespread fraud to blame for Champions League chaos – French minister | This Is Wiltshire

This Is Wiltshire

French interior minister Gerald Darmanin insisted there was “industrial level” fraud as he blamed fans with fake tickets for the problems ahead of …

     
 

Alpha Asset Finance partners with Nivo | BestAdvice

BestAdvice

Castle Trust relaunches mortgage offering … Nivo to improve its application process and combat rising fraud in the specialist finance sector.

     
 

France blames Liverpool, ticket fraud for Champions League trouble – Trend.az

Trend.az

The French government on Monday blamed massive ticket fraud and Liverpool’s handling of its fans for the crowd trouble which marred the club’s …

     
 

OFFICIAL: Smaller landlords ‘most responsible’ over Covid mortgage holidays – LandlordZONE

LandlordZONE

The likelihood of taking a mortgage holiday did not differ by portfolio size. … property investment fraudster FINALLY jailed over £600,000 scam.

     
 

April mortgage approvals down 6% on March figures | Kildare Nationalist

Kildare Nationalist

Figures from the Banking and Payments Federation of Ireland (BPFI) show 4304 mortgages were approved last month…

     
 
WEB  

California Couple Indicted For PPP Mortgage Fraud In Hawaii – Techy News Now

Techy News Now

California Couple Indicted For PPP Mortgage Fraud In Hawaii. May 30, 2022 by techynewsnow_2qh7tz. Could 27, 2022. A California couple was indicted …

     
 

vendor property fraud and mortgage fraud – Datalaw

Legal CPD Courses

Search the UK’s largest online legal CPD course Library with more than 3000 Legal CPD Courses in over 46 areas of law.

     
 

FRAUD STOPPERS Daily News Update ⋅ May 31, 2022

FRAUD STOPPERS NEWS

Crime Stoppers cash offered for ID of credit card fraud suspects | Franklin Police News

Franklin Police News

fraudulent credit card info and identities to purchase a variety of items throughout Middle Tennessee. Recognize them? Call Crime Stoppers:…

City of Franklin Tennessee – Crime Stoppers cash offered for ID of credit card fraud suspects – ThePressReleaseEngine.com

Full Coverage

     

Police looking for Lancaster County fraud suspect using cards across Pennsylvania – ABC27

ABC27

Lititz Borough Police say on May 2 two vehicles parked at Dean Saylor Park had windows smashed and items stolen, including credit cards and driver’s …

ATTEMPT TO ID SUSPECTS IN THEFT/FRAUD – LITITZ BOROUGH | Pennsylvania Crime Stoppers – CRIMEWATCH PA

Full Coverage

     

Inspectors ask for authority to go after more COVID fraud – FOX23 News

FOX23 News

Virus Outbreak Fraud FILE – Department of Justice Inspector General Michael Horowitz testifies during a Senate Judiciary hearing on Capitol Hill, …

     

France blames ticket fraud for Champions League final chaos | CFJC Today Kamloops

CFJC Today Kamloops

France blames ticket fraud for Champions League final chaos. May 30, 2022 | 4:23 PM … CRIME STOPPERS: Kamloops Wanted – May 30, 2022.

     

London woman facing a number of fraud related charges in Windsor – iHeartRadio

iHeartRadio

Anyone with information is asked to contact the Windsor Police Service – Financial Crimes Unit at 519-255-6700 ext. 4330, Crime Stoppers anonymously …

     

Inspectors ask for authority to go after more COVID fraud – KTVZ

KTVZ

The agencies watchdogs’ authority to administratively prosecute fraudsters is limited to fraud of $150,000 or less from COVID-19 relief programs and …

     

London woman arrested in Windsor vehicle-buying fraud investigation

Windsor Star

Anonymous tips can be made via Crime Stoppers at 519-258-8477 or www.catchcrooks.com.

     

German police mount raids in COVID-19 aid fraud probe – KTVZ

KTVZ

BERLIN (AP) — Police have raided homes and offices in northern and western Germany as part of an investigation of five men accused of fraudulently …

     

Six arrested as part of gang crime squad fraud investigation | The National Tribune

The National Tribune

Anyone with information about offences or gang activity is urged to contact Crime Stoppers on 1800 333 000 or submit a confidential report online …

     

London woman charged with fraudulent vehicle purchases – Blackburn News

Blackburn News

A 45-year-old woman is facing multiple charges coming from a fraud … Anonymous tips may be submitted to Crime Stoppers at (519) 258-TIPS (8477).

     

Waterloo Regional Police Investigating Damage to School on Wilson Avenue in Kitchener

Waterloo Regional Police Service

The investigation is ongoing. Anyone with information is encouraged to call police at 519-570-9777 or Crime Stoppers at 1-800-222-8477. Anonymous tips …

     

 

What is MERS?

What is MERS? MERS is the Mortgage Electronic Registration System and it is an electronic database that holds digitized mortgage loan documents. You can search the MERS Database here: The MERS Servicer ID to identify the servicer associated with a mortgage loan registered on the MERS System.

 

Bankers Association testified to THE FLORIDA SUPREME COURT (in CASE NO.: 09-1460) that the physical loan documents were deliberately destroyed to avoid any confusion upon their conversion to electronic files. CASE 09-1460 COMMENTS OF THE FLORIDA BANKERS ASSOCIATION

 

In other words, the Banksters deliberately destroyed the wet ink signature loan documents for millions of mortgages in MERS the Mortgage Electronic Registration System.

A Few Facts about MERS

  1. Mortgage Electronic Registration Systems (MERS) is incorporated within the State of Delaware.
  2. Mortgage Electronic Registration Systems (MERS) was first incorporated in Delaware in 1999.
  3. The total number of shares of common stock authorized by MERS’ articles of incorporation is 1,000.
  4. The total number of shares of Mortgage Electronic Registration Systems (MERS) common stock actually issued is 1,000.
  5. Mortgage Electronic Registration Systems (MERS) is a wholly owned subsidiary of MERSCorp, Inc.
  6. MERS’ principal place of business at 1595 Spring Hill Road, Suite 310, Vienna, Virginia 22182
  7. MERS’ national data center is located in Plano, Texas.
  8. MERS’ serves as a “nominee” of mortgages and deeds of trust recorded in all fifty states.
  9. Over 50 million loans have been registered on the Mortgage Electronic Registration Systems (MERS) system. (UPDATE 9/11/2011: 70 MILLION American Mortgages)
  10. MERS’ federal tax identification number is “541927784”.
  11. Mortgage Electronic Registration Systems (MERS) does not take applications for, underwrite or negotiate mortgage loans.
  12. Mortgage Electronic Registration Systems (MERS) does not make or originate mortgage loans to consumers.
  13. Mortgage Electronic Registration Systems (MERS) does not extend any credit to consumers.
  14. Mortgage Electronic Registration Systems (MERS) has no role in the origination or original funding of the mortgages or deeds of trust for which it serves as “nominee”.
  15. Mortgage Electronic Registration Systems (MERS) does not service mortgage loans.
  16. Mortgage Electronic Registration Systems (MERS) does not sell mortgage loans.
  17. Mortgage Electronic Registration Systems (MERS) is not an investor who acquires mortgage loans on the secondary market.
  18. Mortgage Electronic Registration Systems (MERS) does not ever receive or process mortgage applications.
  19. Mortgage Electronic Registration Systems (MERS) simply holds mortgage liens in a nominee capacity and through its electronic registry, tracks changes in the ownership of mortgage loans and servicing rights related thereto.
  20. MERS© System is not a vehicle for creating or transferring beneficial interests in mortgage loans.
  21. Mortgage Electronic Registration Systems (MERS) is not named as a beneficiary of the alleged promissory note.
  22. Mortgage Electronic Registration Systems (MERS) is never the owner of the promissory note for which it seeks foreclosure.
  23. Mortgage Electronic Registration Systems (MERS) has no legal or beneficial interest in the promissory note underlying the security instrument for which it serves as “nominee”.
  24. Mortgage Electronic Registration Systems (MERS) has no legal or beneficial interest in the loan instrument underlying the security instrument for which it serves as “nominee”
  25. Mortgage Electronic Registration Systems (MERS) has no legal or beneficial interest in the mortgage indebtedness underlying the security instrument for which it serves as “nominee”.
  26. Mortgage Electronic Registration Systems (MERS) has no interest at all in the promissory note evidencing the mortgage indebtedness.
  27. Mortgage Electronic Registration Systems (MERS)is not a party to the alleged mortgage indebtedness underlying the security instrument for which it serves as “nominee”.
  28. Mortgage Electronic Registration Systems (MERS) has no financial or other interest in whether or not a mortgage loan is repaid.
  29. Mortgage Electronic Registration Systems (MERS) is not the owner of the promissory note secured by the mortgage and has no rights to the payments made by the debtor on such promissory note.
  30. Mortgage Electronic Registration Systems (MERS) does not make or acquire promissory notes or debt instruments of any nature and therefore cannot be said to be acquiring mortgage loans.
  31. Mortgage Electronic Registration Systems (MERS) has no interest in the notes secured by mortgages or the mortgage servicing rights related thereto.
  32. Mortgage Electronic Registration Systems (MERS) does not acquire any interest (legal or beneficial) in the loan instrument (i.e., the promissory note or other debt instrument).
  33. Mortgage Electronic Registration Systems (MERS) has no rights whatsoever to any payments made on account of such mortgage loans, to any servicing rights related to such mortgage loans, or to any mortgaged properties securing such mortgage loans.
  34. The note owner appoints MERS to be its agent to only hold the mortgage lien interest, not to hold any interest in the note.
  35. Mortgage Electronic Registration Systems (MERS) does not hold any interest (legal or beneficial) in the promissory notes that are secured by such mortgages or in any servicing rights associated with the mortgage loan.
  36. The debtor on the note owes no obligation to MERS and does not pay Mortgage Electronic Registration Systems (MERS)on the note.
  37. Mortgage Electronic Registration Systems (MERS) is not entitled to receive any of the payments associated with the alleged mortgage indebtedness.
  38. Mortgage Electronic Registration Systems (MERS) is not entitled to receive any of the interest revenue associated with mortgage indebtedness for which it serves as “nominee”.
  39. Interest revenue related to the mortgage indebtedness for which Mortgage Electronic Registration Systems (MERS) serves as “nominee” is never reflected within MERS’ bookkeeping or accounting records nor does such interest influence MERS’ earnings.
  40. Mortgage indebtedness for which Mortgage Electronic Registration Systems (MERS) serves as the serves as “nominee” is not reflected as an asset on MERS’ financial statements.
  41. Failure to collect the outstanding balance of a mortgage loan will not result in an accounting loss by Mortgage Electronic Registration Systems (MERS).
  42. When a foreclosure is completed, MERS never actually retains or enjoys the use of any of the proceeds from a sale of the foreclosed property, but rather would remit such proceeds to the true party at interest.
  43. Mortgage Electronic Registration Systems (MERS) is not actually at risk as to the payment or nonpayment of the mortgages or deeds of trust for which it serves as “nominee”.
  44. Mortgage Electronic Registration Systems (MERS) has no pecuniary interest in the promissory notes or the mortgage indebtedness for which it serves as “nominee”.
  45. Mortgage Electronic Registration Systems (MERS) is not personally aggrieved by any alleged default of a promissory note for which it serves as “nominee”.
  46. There exists no real controversy between MERS and any mortgagor alleged to be in default.
  47. Mortgage Electronic Registration Systems (MERS) has never suffered any injury by arising out of any alleged default of a promissory note for which it serves as “nominee”.
  48. Mortgage Electronic Registration Systems (MERS) holds the mortgage lien as nominee for the owner of the promissory note.
  49. Mortgage Electronic Registration Systems (MERS), in a nominee capacity for lenders, merely acquires legal title to the security instrument (i.e., the deed of trust or mortgage that secures the loan).
  50. Mortgage Electronic Registration Systems (MERS) simply holds legal title to mortgages and deeds of trust as a nominee for the owner of the promissory note.
  51. Mortgage Electronic Registration Systems (MERS) immobilizes the mortgage lien while transfers of the promissory notes and servicing rights continue to occur.
  52. The investor continues to own and hold the promissory note, but under the MERS® System, the servicing entity only holds contractual servicing rights and MERS holds legal title to the mortgage as nominee for the benefit of the investor (or owner and holder of the note) and not for itself.
  53. In effect, the mortgage lien becomes immobilized by Mortgage Electronic Registration Systems (MERS) continuing to hold the mortgage lien when the note is sold from one investor to another via an endorsement and delivery of the note or the transfer of servicing rights from one Mortgage Electronic Registration Systems (MERS) member to another Mortgage Electronic Registration Systems (MERS) member via a purchase and sale agreement which is a non-recordable contract right.
  54. Legal title to the mortgage or deed of trust remains in MERS after such transfers and is tracked by Mortgage Electronic Registration Systems (MERS) in its electronic registry.
  55. Mortgage Electronic Registration Systems (MERS) holds legal title to the mortgage for the benefit of the owner of the note.
  56. The beneficial interest in the mortgage (or person or entity whose interest is secured by the mortgage) runs to the owner and holder of the promissory note and/or servicing rights thereunder.
  57. Mortgage Electronic Registration Systems (MERS) has no interest at all in the promissory note evidencing the mortgage loan.
  58. Mortgage Electronic Registration Systems (MERS) does not acquire an interest in promissory notes or debt instruments of any nature.
  59. The beneficial interest in the mortgage (or the person or entity whose interest is secured by the mortgage) runs to the owner and holder of the promissory note (NOT MERS).

Fraud Stoppers MERS wins in four Pennsylvania county lawsuits

MERS as Holder

  1. Mortgage Electronic Registration Systems (MERS) is never the holder of a promissory note in the ordinary course of business.
  2. Mortgage Electronic Registration Systems (MERS) is not a custodian of promissory notes underlying the security instrument for which it serves as “nominee”.
  3. Mortgage Electronic Registration Systems (MERS) does not even maintain copies of promissory notes underlying the security instrument for which it serves as “nominee”.
  4. Sometimes when an investor or servicer desires to foreclose, the servicer obtains the promissory note from the custodian holding the note on behalf of the mortgage investor and places that note in the hands of a servicer employee who has been appointed as an officer (vice president and assistant secretary) of MERS by corporate resolution.
  5. When a promissory note is placed in the hands of a servicer employee who is also an Mortgage Electronic Registration Systems (MERS) officer, Mortgage Electronic Registration Systems (MERS) asserts that this transfer of custody into the hands of this nominal officer (without any transfer of ownership or beneficial interest) renders Mortgage Electronic Registration Systems (MERS) the holder.
  6. No consideration or compensation is exchanged between the owner of the promissory note and Mortgage Electronic Registration Systems (MERS) in consideration of this transfer in custody.
  7. Even when the promissory note is physically placed in the hands of the servicer’s employee who is a nominal Mortgage Electronic Registration Systems (MERS) officer, Mortgage Electronic Registration Systems (MERS) has no actual authority to control the foreclosure or the legal actions undertaken in its name.
  8. Mortgage Electronic Registration Systems (MERS) will never willingly reveal the identity of the owner of the promissory note unless ordered to do so by the court.
  9. Mortgage Electronic Registration Systems (MERS) will never willingly reveal the identity of the prior holders of the promissory note unless ordered to do so by the court.
  10. Since the transfer in custody of the promissory note is not for consideration, this transfer of custody is not reflected in any contemporaneous accounting records.
  11. Mortgage Electronic Registration Systems (MERS)is never a holder in due course when the transfer of custody occurs after default.
  12. Mortgage Electronic Registration Systems (MERS) is never the holder when the promissory note is shown to be lost or stolen.

 

MERS’ Role in Mortgage Servicing

  1. Mortgage Electronic Registration Systems (MERS) does not service mortgage loans.
  2. Mortgage Electronic Registration Systems (MERS) is not the owner of the servicing rights relating to the mortgage loan and Mortgage Electronic Registration Systems (MERS) does not service loans.
  3. Mortgage Electronic Registration Systems (MERS) does not collect mortgage payments.
  4. Mortgage Electronic Registration Systems (MERS) does not hold escrows for taxes and insurance.
  5. Mortgage Electronic Registration Systems (MERS) does not provide any servicing functions on mortgage loans, whatsoever.
  6. Those rights are typically held by the servicer of the loan, who may or may not also be the holder of the note.

 

MERS’ Rights To Control the Foreclosure

  1. Mortgage Electronic Registration Systems (MERS) must all times comply with the instructions of the holder of the mortgage loan promissory notes.
  2. Mortgage Electronic Registration Systems (MERS) only acts when directed to by its members and for the sole benefit of the owners and holders of the promissory notes secured by the mortgage instruments naming Mortgage Electronic Registration Systems (MERS) as nominee owner.
  3. MERS’ members employ and pay the attorneys bringing foreclosure actions in MERS’ name.

 

MERS’ Access To or Control over Records or Documents

  1. Mortgage Electronic Registration Systems (MERS) has never maintained archival copies of any mortgage application for which it serves as “nominee”.
  2. In its regular course of business, Mortgage Electronic Registration Systems (MERS) as a corporation does not maintain physical possession or custody of promissory notes, deeds of trust or other mortgage security instruments on behalf of its principals.
  3. MERS as a corporation has no archive or repository of the promissory notes secured by deeds of trust or other mortgage security instruments for which it serves as nominee.
  4. Mortgage Electronic Registration Systems (MERS) as a corporation is not a custodian of the promissory notes secured by deeds of trust or other mortgage security instruments for which it serves as nominee.
  5. Mortgage Electronic Registration Systems (MERS) as a corporation has no archive or repository of the deeds of trust or other mortgage security instruments for which it serves as nominee.
  6. In its regular course of business, Mortgage Electronic Registration Systems (MERS) as a corporation does not routinely receive or archive copies of the promissory notes secured by the mortgage security instruments for which it serves as nominee.
  7. In its regular course of business, Mortgage Electronic Registration Systems (MERS) as a corporation does not routinely receive or archive copies of the mortgage security instruments for which it serves as nominee.
  8. Copies of the instruments attached to MERS’ petitions or complaints so not come from MERS’ corporate files or archives.
  9. In its regular course of business, Mortgage Electronic Registration Systems (MERS) as a corporation does not input the promissory note or mortgage security instrument ownership registration data for new mortgages for which it serves as nominee, but rather the registration information for such mortgages are entered by the “member” mortgage lenders, investors and/or servicers originating, purchasing, and/or selling such mortgages or mortgage servicing rights.
  10. Mortgage Electronic Registration Systems (MERS) does not maintain a central corporate archive of demands, notices, claims, appointments, releases, assignments, or other files, documents and/or communications relating to collections efforts undertaken by Mortgage Electronic Registration Systems (MERS) officers appointed by corporate resolution and acting under its authority.

 

Management and Supervision

  1. In preparing affidavits and certifications, officers of Mortgage Electronic Registration Systems (MERS), including Vice Presidents and Assistant Secretaries, making representations under MERS’ authority and on MERS’ behalf, are not primarily relying upon books of account, documents, records or files within MERS’ corporate supervision, custody or control.
  2. Officers of Mortgage Electronic Registration Systems (MERS) preparing affidavits and certifications, including Vice Presidents and Assistant Secretaries, and otherwise making representations under MERS’ authority and on MERS’ behalf, do not routinely furnish copies of these affidavits or certifications to MERS for corporate retention or archival.
  3. Officers of Mortgage Electronic Registration Systems (MERS) preparing affidavits and certifications, including Vice Presidents and Assistant Secretaries, and otherwise making representations under MERS’ authority and on MERS’ behalf are not working under the supervision or direction of senior Mortgage Electronic Registration Systems (MERS) officers or employees, but rather are supervised by personnel employed by mortgage investors or mortgage servicers.

This should be a pretty good start for those of you faced with a foreclosure in which Mortgage Electronic Registration Systems (MERS) is falsely asserting that it is the owner of the promissory note.  Whether Mortgage Electronic Registration Systems (MERS) is or was ever the holder is a FACT QUESTION which can be determined only by ascertaining the chain of custody of the promissory note.  When the promissory note is lost, missing or stolen, Mortgage Electronic Registration Systems (MERS) is NOT the holder.

By William A. Roper, Jr. Excerpted from the MSFraud Forum thread “Facts about MERS / MERS Unmasked”

Is Your MERS Mortgage Status Designated Inactive?

Many homeowners find out their existing mortgage is listed as “inactive.” An inactive status can refer to the transfer of their mortgage to another loan servicer, or to a few other factors as noted below.

The difference between having an inactive or an active MERS (Mortgage Electronic Registration System) loan may determine if the property owner has any improved or worsened home equity, or a truly saleable asset.

 

What is MERS?

MERS functions as a centralized electronic registry of mortgages, and it was supposed to track the ownership of these mortgages, which are typically sold multiple times during the loan’s life. MERS potentially affects upwards of 70 million residential mortgage loans nationwide, and almost completely crashed the U.S. housing market by itself because of so many problems with the packages.

MERS was created by lenders and title insurance companies, so it would be easier to transfer the beneficial interests to other secondary market lenders. Yet, some mortgages ended up significantly discounted due to packaging problems, which made them inactive.

Where’s the “IOU” for the mortgage debt?

 

The MERS Scandal

Missing documents, notary fraud, and “robo-signing” led the way.

There was a lot of chaos involved with MERS mortgage packets, which contained no original promissory notes (the “IOU” for the mortgage debt) in these same MERS files.

Knowledgeable homeowners were able to completely stop their home foreclosures by pointing out that the foreclosing entity, such as the mortgage servicing company, didn’t have a legal right to foreclose on their homes, since they didn’t have all of their valid mortgage paperwork in their files.

These questionable ownership interests in the mortgages led to foreclosure moratoriums, court settlements, and inactive statuses.

There were a large number of allegations of notary fraud in which real or fake notaries such as “Linda Green” were allegedly part of the massive “Robo-Signing Scandal” nationwide.

It has been suggested that promissory notes, deeds of trust or mortgages, and other loan or title documents were forged, left blank, or illegally assigned to numerous mortgage investors. Since MERS was set up to become as paperless, speedy, and efficient as possible, there was not enough third party oversight to check whether these documents were valid.

 

Questionable Beneficial Interests

“No Note = No Debt” became the mantra for homeowners who were in the midst of their own foreclosures due to the weaker U.S. economy. Some savvy property owners were able to legally void their existing mortgage debt altogether by proving that the foreclosing mortgage company had no valid beneficial interests in the existing mortgage, and thus had to legal right to collect any payments.

Other homeowners were able to show that their MERS files had fraudulent notary signatures signed on behalf of both owners and lenders, which moved their file designations over to “inactive” as well.

Mortgage lenders that have collapsed or imploded since the official start of the Credit Crisis back in 2007, such as Countrywide, Indy Mac, Lehman Brothers, World Savings, Downey Savings, and Washington Mutual still figuratively exist by way of their asset or beneficial interest transfers to the “strawman” named MERS.

MERS may pay no taxes or employ anyone. Without the proper assignment of these MERS mortgages, these same imploded mortgage companies’ loans could have ceased to exist.

 

The Shadow Inventory & MERS

Instead of upwards of 60 million residential MERS mortgages becoming inactive or possibly even completely voided and worthless, many of the largest banks and mortgage service companies worked closely with the U.S. government to create the National Mortgage Settlement in early 2012. This insanely small $25 billion settlement is but a mere fraction of the potentially trillions of dollars of MERS mortgages nationwide.

The National Mortgage Settlement of 2012 and MERS Scandal were two of the primary reasons why home listings nationally dropped dramatically.

There were potentially millions of Shadow Inventory homes (mortgage payments are more than 90 days late), which may not have valid promissory notes, or other mortgage or title instruments or documents, in the files. The lack of listed home inventory led to a rapid increase of home prices between 2011 and 2013 (also partly due to the record low mortgage rates).

 

The “Inactive” MERS Designation

An inactive MERS designation may relate to the loan having been refinanced or paid off, discounted, or completely voided due to the invalid mortgage documents in the file. Or, the mortgage loan was assigned out of the MERS system to a completely new mortgage servicing company.

A property owner with a MERS mortgage can find the status of their loan by searching for their 18-digit Mortgage Identification Number (MERS MIN). Then, the same person may search online for the MERS Servicer ID system in order to check the status of their mortgage.

Before attempting to pay off a MERS loan, it’s very important to find out if all of the mortgage payments have been properly applied to the account. The vast majority of MERS mortgages have been assigned to multiple mortgage investors over the years, so it is very important to check your own payment history over the years in order to determine if all of your payments have been credited to every mortgage servicing lender’s accounts.

It’s imperative that the owner pays off the correct amounts, which may mean more money back to the owner and much less money for the current mortgage loan servicer. As such, a little research and loan analysis by a property owner on their personal payment histories can save them a lot of money and headaches.

Here is some additional information on MERS:

 

Take action right now and get the FACTS and HELP that you need to gain the legal remedy that the law entitles you to, and that you deserve!

MERS Is Dead

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MERS Is Dead: Can Be Sued For Fraud: WA Supreme Court

Countdown to banks forcing Congress to protect MERS in 3,2,1…

State Court Ruling Deals Body Blow to MERS

(Reuters) – The highest court in the state of Washington recently ruled that a company that has foreclosed on millions of mortgages nationwide can be sued for fraud, a decision that could cause a new round of trouble for the nation’s banks.

The ruling is one of the first to allow consumers to seek damages from Mortgage Electronic Registration Systems, a company set up by the nation’s major banks, if they can prove they were harmed.

Legal experts said last month’s decision from the Washington Supreme Court could become a precedent for courts in other states. The case also endorsed the view of other state courts that MERS does not have the legal authority to foreclose on a home.

“This is a body blow,” said consumer law attorney Ira Rheingold. “Ultimately the MERS business model cannot work and should not work and needs to be changed.”

Banks set up MERS in the 1990s to help speed the process of packaging loans into mortgage-backed bonds by easing the process of transferring mortgages from one party to another. But ever since the housing crash, MERS has been besieged by litigation from state attorneys general, local government officials and homeowners who have challenged the company’s authority to pursue foreclosure actions.

A spokeswoman for MERS said the company is confident its role in the financial system will withstand legal challenges.

The Washington Supreme Court held that MERS’ business practices had the “capacity to deceive” a substantial portion of the public because MERS claimed it was the beneficiary of the mortgage when it was not.

This finding means that in actions where a bank used MERS to foreclose, the consumer can sue it for fraud. If the foreclosure can be challenged, MERS’ involvement would make repossession more complicated.

On top of that, virtually any foreclosed homeowner in the state in the past 15 years who feels they have been harmed in some way could file a consumer fraud suit.

“This may be the beginning of a trend,” says Elizabeth Renuart, a professor at Albany Law School focusing on consumer credit law.

The company’s history dates back to the 1990s, when banks began aggressively bundling home loans into mortgage-backed securities. The banks formed MERS to speed up the handling of all the paperwork associated with recording the filing of a deed and the subsequent inclusion of a mortgage in an entity that issues a mortgage-backed security.

MERS allowed the banks to save time and money because it permitted lenders to bypass the process of filing paperwork with the local recorder of deeds every time a mortgage was sold.

Instead, banks put MERS’ name on the deed. And when they bought and sold mortgages, they just recorded the transfer of ownership of the note in the MERS system.

The MERS’ database was supposed to keep track of where those loans went. The company’s motto: “Process loans, not paperwork.”

But the foreclosure crisis revealed major flaws with the MERS database.

The plaintiffs in the Washington case, homeowners Kristin Bain and Kevin Selkowitz, argued that the problems with the MERS database made it difficult, if not impossible; to determine who really owned their loan. It’s an argument that has been raised in numerous other lawsuits challenging the ability of MERS to foreclose on a home.

“It’s going to be very easy for consumers to say they were harmed because it’s inherently misleading,” says Geoff Walsh, an attorney with the National Consumer Law Center. If consumers can’t identify who owns their loan, then they don’t know whom to negotiate with, and can’t even be certain of the legitimacy of the foreclosure.

In a statement, MERS spokeswoman Janis Smith noted that banks stopped using MERS’ name to foreclose last year. She added that the opinion will “create confusion” for homeowners in the state of Washington while the trial courts consider its effect on pending cases.

Meanwhile, MERS is attempting to remake itself. The company has a new chief executive and a new branding campaign. In Washington D.C. federal lawmakers have recognized the need to create a national mortgage-recording database that would track all U.S. mortgages. MERS is lobbying to build it.

The case is Bain (Kristin), et al. v. Mortg. Elec. Registration Sys., et al., Washington Supreme Court, No. 86206-1.

MERS and the problem of false agency

Posted on April 19, 2022 by Neil Garfield

Since the beginning of this century, The initial transaction with homeowners was the product of multiple layers of paperwork, most of which were neither identified nor accessed by consumers or their professional advisers.

Here is the deal:

As was typical during the “securitization” era, the application for a loan is received as the commencement of the transaction. It is not the “closing.”

From your perspective, you asked for a loan, and you were given false paperwork for you to read and sign. From the perspective of the disclosed counterparty to your transaction, the originator was merely paid a fee for the service of selling the transaction to you as a “loan.”

The funding for your transaction is an elaborate scheme unto itself. Once the paperwork is completed by the investment bank, the investment bank borrows the amount of money needed to pay homeowners at or near the time of closing. There is frequently a waiting period after what the homeowners perceive as a loan closing. This is the final check to make sure that there are not multiple entities named as Plaintiffs or beneficiaries on mortgages and deeds of trust respectively.

The loan from, for example, Credit Suisse, is collateralized by the impending sale of certificates to investors. The certificates do NOT represent any status as beneficiaries of a trust nor any status as a creditor to whom the homeowners ‘payments set forth on the homeowners’ note are payable.

Payments of money to the investors are discretionary but they usually are made by the investment bank regardless of whether or not any homeowner makes a scheduled payment on the schedule described in the promissory note issued by the homeowner. Investors were sold and contractually accepted the idea that they and no right, title or interest to any homeowner payment, legal debt, underlying obligation, note, or mortgage (or deed of trust).

So investors are paid not by homeowners but by various undisclosed intermediaries who have access to the funds paid by homeowners and access the funds generated by sales of certificates that are frequently mislabeled as Mortgage-Backed Securities. The fact the payments are frequently made as “Servicer advances” (as though the money came from companies who were named as “servicers” is the foundation for framing this deal — taken as a whole — as at least part of the PONZI scheme.

The sale of the certificates pays back the loan to Credit Suisse, plus a fairly large (e.g. 30%) profit partly directly arising from a yield spread premium (the difference between the amount of money paid by investors for unsecured IOUs from the investment bank and the amount paid to homeowners. Additional money is generated as the proceeds or revenue of either sale of the additional derivatives securities created and issued by the investment bank.

The problem for laypeople or even lawyers is that there is a choice between whether to analyze your transaction from the perspective of what you were seeking or whether to analyze the group of transactions from the perspective of the securitization scheme, without which there would have been no homeowner transaction. The consensus in the media and courtrooms is to simply analyze the transaction from the perspective of what the consumer wanted when he or she applied for a loan, regardless of where that is an accurate description of the transaction.

Contemporaneously with the origination of the transaction, several things are happening. In broad strokes, they are divided into the money trail and the paper trail. In the paper trail, none of the documents correctly identify or describe a transaction much less “memorialize” any transaction. Because everyone has received all the money they intended from participation in the “securitization” scheme the essential ingredient of a loan account receivable is eliminated thereby making nobody the “lender.”

Simply stated, since there isn’t anyone who maintains any record on the accounting ledger of an account receivable owed by you, there is no creditor. Nonetheless, in order for the securitization scheme to work (justifying more sales of certificates and other derivatives to investors), it must appear as though (a) an underlying obligation is created, owed to a specifically named lender and (b) that it has been transferred to a named business entity with caveats on the sale — namely that there is no warranty of title to the claims against homeowners.

When the origination cycle is complete, the status of the transaction is that there is no counterparty who has a stake in the viability or success of that transaction because nobody loses money if the homeowner does not make a scheduled payment — one that I maintain is simply not due to anyone. The absence of a lender — and all that entails under law — means there is no loan. The finance side of the transaction knows this but sets out to create a false paper trail to make it seem like “this is a standard mortgage loan” or ” this is standard foreclosure action.”

The financial community in coordination with lawyers willing to play the “game” used strategies and tactics to not only make it appear that the transaction was a loan but to actually have the court presume that the transaction was a loan and that the complaining party has hired counsel to seek a remedy. The status of such claims is always this: there is no obligation, loan account, or other claims for money allegedly due from the homeowner.

The primary tactic utilized by the financial community is the volume of paperwork. the thicker the pile of paperwork the more likely it is that a layperson sitting on the bench, will conclude that the transaction was real as a “loan.” And that is why we witnessed the birth of a major industry — creating false, fabricated, backdated documentation making it appear that several brand name institutions were trading, purchasing, and selling the “loans”. In reality, no such transactions existed, but the paperwork said the t transactions had occurred.

Considerable effort and coordination were devised by the financial sector to mislead the court system and they did so successfully in most cases. But even a casual look at your chain of title for the mortgage or deed of trust reveals inconsistencies in the paperwork especially when one realizes that the signature block one each document is on behalf of entities that (a) don’t exist at all, (b) exist but are irrelevant to the transaction and (c) are unclear from the face of the document.

Your case is almost certainly closely aligned with the typical playbook of strategies and tactics. Examining the document assignment of mortgage you find what is typical:

No consideration. the law requires that value be paid by the claimant before it can file suit to enforce the claim. But that law does not impact the ability of the foreclosure players to make false claims of authority to administer, collect or enforce in correspondence, notices, and statements.
“Corrective instruments” that correct nothing in order to establish more paper volume.
Execution of assignment by a business entity that has no right, title or interest in the alleged obligation. For example, MERS is used to launder titles.

People from FINTECH companies regularly access the main servers that are maintained by MERS for the sole purpose of getting themselves automatically appointed, without board resolution, as an officer of MERS.
MERS always is described as the nominee for the specifically named “lender” who is just an originator selling a financial product as described above. MERS is used as a cover-up. It effectively hides the title gap in plain sight.

The execution of an assignment or corrective assignment presumes that it is acting as an agent for whoever is currently named as the current claimant, beneficiary, or Plaintiff. But no such agency exists in fact or at law.
The execution of a security instrument (mortgage or loan) by a self-proclaimed “servicer” (which performs no servicing duties with respect to receipts data processing and disbursement of money from homeowners) on behalf of a new entity appointed to be the claimant, beneficiary or Plaintiff. But the execution of the assignment by MERS on behalf of Countrywide after the collapse of countrywide. it does not exist.
And Bank of America did not acquire any ownership interest in any homeowner transactions because countrywide didn’t own any such interest.

So while Bank of America was a successor to Countrywide, the foreclosure team is relying on appearances — in order to get the court to presume that the merger created a transfer of the ownership of the unpaid nonexistent loan account receivable of the mortgage rights from Countrywide as originator to Bank of America.

In such mergers, there is no Mortgage Loan Schedule, nor any written assignment of mortgage. Since the law requires the assignment, the presumption that the transfer could occur without an assignment of mortgage is erroneous. But that fact will not stop foreclosure unless it is aggressively contested.
The document is supposedly executed by someone calling themselves an “assistant secretary.” But note that it does not say that the signor was the assistant sectary of MERS.

Every time there is mention of MERS it includes the phrase “its successors and assigns” such that it is unclear from the grammar utilized whether there is a successor to MERS or a successor for the principal in the agency agreement between MERS and the originator (Countrywide in this scenario).
But there is no succession to either one unless (a) someone bought or merged with MERS or (b) someone bought loan accounts receivable from Countrywide. Such a sale would’ve been impossible because, by the time of the merger, Countrywide had only reserved “servicing rights” which really only meant the claim to receive “servicer advances” upon liquidation of a foreclosed property. So there is no MERS successor and there is no Countrywide successor as it relates to either the actual pr presumed transfer of the alleged underlying obligation.

Any endorsements are undated. Under current law, this means that parole evidence must be offered to prove that the promissory note was transferred and delivered to the party named as claimant, beneficiary, or Plaintiff.
Documents requiring the signature of the homeowner are in most cases completely fabricated even if the homeowner did sign similar documents. This has been sued to change the fact relevant to execution and delivery of the promissory note that in approximately 95% of all cases is destroyed within days of the time of closing that transaction with the homeowner.

This becomes clearer when the homeowner is able to lay hands on the original note at least as an original, and when the original note contains coloration of signature or other marks that do not appear on the refabricated note made by electronic manipulation of images.

The foreclosure mill will often utilize such fabricated documents even when they contain glaring facially invalid errors. For example, where a parent was the owner of the property and signed the “mortgage” paperwork, the instructions received by the law firm are turned into correspondence, notes, statements, and pleadings that reflect the grantors under a deed of trust or the mortgagors under a mortgage instrument become the heirs or successors to liability under the note.

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