Great article from "Fraud Digest" giving reasons why there should be an end to the scam called MERS that has been ripping off counties and states for several years. Now they have infected the real estate market in ways that may never be repaired in the next 25 years or more. It has only complicated the fraud and scam the banks have gotten away with that has vaporized years and years of hard work, years and years of precedent and years and years of law.
What has changed in the world of mortgage assignments since the FDIC/OCC/Treasury Consent Orders?
When is a mortgage assignment actually an Affidavit posing as a mortgage assignment?
When will all Recorders of Deeds file Declaratory Judgment actions seeking to enjoin the filing of mortgage assignments by document preparers:
1. that falsely state the employer and/or address of the preparer or signer (or that only use the MERS title when the signer is not directly employed by MERS);
2. that fail to plainly set forth the date the mortgage was assigned to the assignee; or
3. that contain language about the holder of the note, such language being extraneous to an Assignment of Mortgage.
Why are such Declaratory Judgment actions needed?
This is the new language appearing on many mortgage assignments where Deutsche Bank National Trust Company is the Trustee the Trust is the Assignee and MERS is the Assignor:
This loan was held by the Assignee prior to the Assignee filing a foreclosure action on May 21, 2008. The date of the execution of this Assignment of Mortgage by the Assignor is not reflective of the date the loan was transferred to the Assignee. The execution of this document is a ministerial act to comply with the state law as to how the transfer is to be documented and is not reflective of the transfer date itself.
(Instrument #2011383648, Official Records, Hillsborough County, Florida.)
This is signed by Srbui Muradyan who is identified as Assistant Secretary, Mortgage Electronic Registration Systems, Inc., as Nominee for WMC Mortgage Corp. This document was notarized in Ventura County, CA, on October 25, 2011.
According to a statement in the upper left-hand corner of the document, the preparer was Tanya D. Simpson, Esq., of the law firm Smith, Hiatt & Diaz, P.A., a foreclosure mill in Ft. Lauderdale, Florida.
The receiving trust is Soundview Home Loan Trust 2007-WMC1.
When was the mortgage assigned to the trust? That essential question is not addressed by the Mortgage Assignment.
The signer and preparer purport to know that the loan (note: not the mortgage - the loan - that is, the promissory note) was held by Deutsche Bank as Trustee prior to May 21, 2008.
How is a Bank of America employee competent to state when Deutsche Bank National Trust Company acquired a loan?
In reality, Srbui Muradyan works for Bank of America in California. On many other mortgage assignments, Muradyan’s name appears as the preparer and the address for Muradyan is 450 E. Boundry Street, Chapin, SC - the address of Corelogic, one of the newest and largest document preparers in the country. (See Assignment of Mortgage, Book 2011, Page 13758, Pottawattamie County, Iowa - available through a Google search.)
Muradyan’s signature is always notarized in Ventura County, CA.
These new Assignments fail to plainly set forth the date that the mortgage was assigned; the individuals signing use a MERS title, never revealing their actual employers; the address of the signers is either not provided or wrongly stated, making it that much more difficult for a homeowner in foreclosure to take a simple deposition.
The OCC Review Process is not working; banks and trusts continue to use the MERS guise to seize properties without proof of ownership. The language has become even more convoluted. Tens of thousands of MERS Mortgage Assignments continue to be filed each month throughout the country.
Attorneys General Beau Biden of Delaware, Martha Coakley of Massachusetts and Eric Schneiderman of New York have all sued MERS and a declaratory judgment and injunctive relief may be part of their overall strategy. Their actions, however, will only help the citizens of Delaware, Massachusetts and New York.
While the many Linda Greens may have retired their pens in Alpharetta, there are hundreds more taking their places, still using MERS titles, still pretending to be bank officers when they are untrained clerks working for document mills.
Another solution is legislative: the Truth in Mortgage Documents Act previously discussed in Fraud Digest.
The simplest solution is for judges everywhere to reject these misleading documents and sanction the filers.
The end of MERS is long overdue.