"Fraud Digest" Put an end to MERS, but damage already done

 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.

Creation of the Kleptocracy and good bye to Free Market Capitalism.

Creation of the Kleptocracy and good bye to Free Market Capitalism. 

We are going through a very difficult time. We have suffered a major recession that on paper looked more like a depression. We are on the verge of falling into another recession. The possibility of falling into another recession means that we are going on the assumption that we were delivered from the first one. This is debatable but regardless of what our opinion is on the economy, we have had a difficult run. If you are in your 40s you are living through something never before seen in your lifetime. We have seen the standard of living for the current generation fall below that of the previous generation for the first time since WWII. If you were in high school in the 80s and finishing college in the 90’s you probably had a very good beginning to your career.


If you survived the dot com bubble and were able to start a business, invest in the right stocks, or find a good job you likely had your life on the right track for nearly 20 years. You did all the right things, read all the right books and invested for the long term. Everything you read and researched on the stock market and real estate told you to invest for the long term. The graphs and the pie charts all showed the best way to have a secure retirement was to invest in the long term and not worry.



Kleptocracy as defined by Wikipedia:

Kleptocracy, alternatively cleptocracy or kleptarchy, from Ancient Greek: κλέπτης (thief) and κράτος (rule), is a term applied to a government subject to control fraud that takes advantage of governmental corruption to extend the personal wealth and political power of government officials and the ruling class (collectively, kleptocrats), via the embezzlement of state funds at the expense of the wider population, sometimes without even the pretense of honest service.

As the economy grew, manipulations by the government, the banks and the corporate Kleptocracy hypnotized everyone into believing we were safe in our investments. We could take any book off the shelf in the library or book store and see that real estate has never gone down if we took date from the 50 states. The trend of the housing market was always increasing. We had all the evidence to believe that the safest, most stable investment was our home or rental property. Americans took pride in making their monthly payments and meeting their obligations to the banks and lenders. What was interesting was that people remained committed to making payments to the banks even after the savings and loan scandals of the 70’s, 80’s and 90’

We were given a wake up call that should have increased our suspicion of the mortgage banking, banking and lending industry. However, thanks to government coming to the rescue, and an unsuspicious media, the banks were given a free pass. This free pass seemed to make the banks and lending institutions even more brazen and fearless. The banking industry took over the economy and bought off the entire government as well.

This all sounds like conspiracy theory but if we look more closely at what has happened to our form of “capitalism and free markets” we can see that we have given up on a free market economy and allowed corporate America to pillage Main Street from their ivory towers of Wall Street. How else could we explain the unquestioned fleecing of county and state governments with the magical creation of the Mortgage Electronic Registration System? The MERS system was instituted with no fan fare, scrutiny or act of law. It was a drastic change to one of the founding principals of our country. The registration of property and chain of title has been one of the reasons for our successful economy. How could the corporate banks completely ignore the system in place and create a new one without any vote of the people or legal standing?

They did it because the politicians are in bed with the banks. Our so called representatives have been bought and paid for many times over. They were all fell to their enormous desire for power and money. The banks bought politicians easily and created a pseudo power system through campaign donations and strategic appropriations against their enemies. They were smart on one level however, by giving the country a taste of super prosperity in the real estate markets so they could continue their bidding to put all the pieces in place to plunder trillions of dollars from the American middle class. Who would question what the banks were doing when so many people were making easy money? Who would question the banking system when banks were freely lending out capital at great rates?

No one would question the banks behind the scenes manipulations during prosperity. The late 1990’s and the early 2000’s were the banks final push to destroy the economy and redistribute trillions of dollars out of the hands of hard working Americans and place it in the fat bank accounts of the Wall Street and D.C. criminal elite. There is no question there was a method to their madness. Anyone who thinks this was all a big accident is gravely mistaken.

Despite the hype and cheerleading of the President and Congressional officials angling for re-election we are no where near the end of this recession or recession like economy. The foundation of the country is the financial system. This system must thrive for the country to prosper now that we have little manufacturing left to generate the dollars needed to increase the velocity of money. The only reason we were able to have a stable system of banking was because of a stable housing market. The home mortgage gave the banks a very high yielding, highly profitable and highly consistent and stable source of income. The banks were taking little or no risk on home mortgages. If you factor in the high percentage of paying customers with the reality that the collateral backing these mortgages were valued well in excess of the note. The unbeatable combination of homeowners paying down mortgages while the collateral securing the notes continued to increase, lined the coffers of the banks with unlimited amounts of money.

Lets not forget that a large percentage of mortgages were insured by the government and were sold quickly by the originator at huge, fast profits made the banking model perform a lot like a Ponzi Scheme. Of course it was all done under the vale of “free market” capitalism but it was a complete scam backed 100% by the full faith and credit of the US Government. Our government was complicit in the devastation of the economy and the destruction of the retirement accounts of millions of Americans.

What does that leave for the next generation? It leaves a very different world for our children and grandchildren. It also leaves a very treacherous and winding road back to prosperity for the 40 something demographic. Our economy has ground to a halt and we are not seeing any recovery since the economic meltdown that started over 5 years ago. We have seen the American dream that has been the guiding light of average Americans who had the freedom to work hard and persistently and expect to get ahead by the time they retired. The arrogance of power has taken our country to the abyss. Those in power are trying so hard to convince the rest of us that we are not hanging over the edge of oblivion with our lifeline working the hold loose as we wait for some real evidence that were are not heading straight down.
Meltdown: A Free-Market Look at Why the Stock Market Collapsed, the Economy Tanked, and Government Bailouts Will Make Things Worse


Meltdown: The End of the Age of Greed (New Updated Edition)






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BofA ‘Significantly Hindered’ Foreclosure Review, U.S. Says - Bloomberg

Here is more information the previous post relating to Bank of America and there cooperation with the investigation and the "foreclosure review"



BofA ‘Significantly Hindered’ Foreclosure Review, U.S. Says - Bloomberg

The bank was slow in providing data and offered incomplete information, according to the U.S. Department of Housing and Urban Development inspector general’s office, which conducted the review.
“Our review was significantly hindered by Bank of America’s reluctance to allow us to interview employees or provide data and information in a timely manner,” William Nixon, an assistant regional inspector general for the agency, said in a sworn declaration.
The filing, dated June 1 and obtained yesterday by Bloomberg News, was submitted as an exhibit in a lawsuit by the state of Arizona against the Charlotte, North Carolina-based bank. Arizona, which is seeking to interview former Bank of America employees, accused the bank of misleading homeowners who were seeking mortgage modifications.

Federal agencies and attorneys general from all 50 states are investigating the way banks service mortgage loans and conduct foreclosures. The group is in settlement talks with the five largest mortgage servicers, including Bank of America, Wells Fargo & Co. (WFC) and JPMorgan Chase & Co.

The article further states that B of A used its attorney's to limit the effectiveness of the interviews during the investigation.  It wasn't as though further confirmation was needed to show that B of A was not cooperating fully but now you have it.  In spite of the public relations onslaught where the bank denied hindering anything, the truth is being slowly revealed.  The foreclosure review was hindered by the bank and their lawyers, there is no doubt about this fact.  We have seen several banking institutions being saved by the government and the taxpayer only to continue there suspect behavior that has kept the lid on what a mess the banks have created. 

According to Nixon’s declaration, when interviews with Bank of America employees were permitted, the presence or involvement of the bank’s attorneys “limited the effectiveness” of the interviews. Attorneys also refused to allow employees to answer questions “on a number of occasions.”
The bank’s delay in providing “readily available information” also hurt the review of the bank’s processes and controls, Nixon said. The information provided in response to two subpoenas wasn’t complete, he said.

The banks have now coupled fraud, perjury and blatantly interfering with a federal investigation to their resume.  How is it possible that people are still using the lame excuse that people are just trying to hold the banks accountable so they can get a free house?  The banks have caused a serious delay in the housing recovery and continue to hold the country hostage behind legions of lawyers willing to cover up any malfeasance by the bank. 





read related stories here and HERE

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the factor predictions

O'Reilly mad a few more predictions the other day about who could and could not be elected president. I thought he would learn after he pronounced about a year or so ago that Barack Obama could not be elected president. I recall something about "the folks aren't going to elect". I haven't seen it ever referenced again but I am sure he wouldn't mind. He is a bright man and would have no problem owning up to his mistaken predictions. Right? I don't know about that but he has taken plenty of time to publish his "right" predictions. I am specifically referring to the demise of GE and O'Reilly's beat down of CEO Immelt. ( you could almost say it was a short sale pounding by O'Reilly) I am not on the side of crooked CEO's but to be fair GE is not the only stock taking a beating during this down turn. I would guess that the beat down of Immelt is more a because they parent NBC , MsNBC. As long as The Factor has the ratings lead NBC and Immelt will be hit hard by O'Reilly.