MERS sued for FRAUD, Billions in Penalties in CA and NV

QUI TAM: MERS et al sued for FRAUD, Billions in Penalties

QUI TAM: MERS et al sued for FRAUD, Billions in Penalties

I am definitely confident on this one going far!

Mortgage registration firm sued for fraud, billions in penalties in Nevada, California

By Frank X. Mullen Jr. • June 25, 2010 RGJ.com

A Reno law firm has filed two lawsuits alleging fraud against a nationwide mortgage registration firm, and if those legal actions prevail, the firm and dozens of mortgage lenders could be liable to Nevada’s counties for billions of dollars in compensation and penalties.

Law partners Robert R. Hager and Treva J. Hearne, with Reno attorney Mark Mausert, have filed a case in Nevada and one in California against Mortgage Electronic Registration Systems, which operates an electronic registry of mortgage loans in the United States. MERS serves as the mortgagee of record for lenders, investors and loan servicers in county land records, but doesn’t own any mortgages.

By using the firm’s names on deeds and other paperwork, the lenders are able to avoid county recording fees, according to the firm. MERS has no financial interest in the loans, but is listed as actual owner or surrogate for the owner on millions of deeds of trust, even as individual mortgages are repeatedly traded and packaged inside of mortgage pools.

The lawsuits argue that listing the firm as the owner of mortgages in which it has no interest in order to avoid filing fees and taxes that are legally required constitutes fraud.

“We look forward to holding these financial institutions and foreclosure mills responsible for their actions that have deprived the states and counties of much-needed revenue,” said Hager.

Karmela Lejarde, communications manager, for the Reston, Va.-based firm, noted that the attorneys general of two states declined to take on the cases as false claims suits pressed by the government, instead leaving the plaintiffs to pursue the civil suits in the court systems.

“The lawsuits are completely without merit,” Lejarde said. “…The suits were filed by the same lawyers who have brought countless lawsuits against MERS, and every single one of them has failed. The most recent (fraud case) actions are just the latest in a line of baseless claims.”

Christopher Peterson, a law professor and associate dean of the University of Utah Law School, has written articles and lectured about MERS’s activities. He said the firm being listed as proxy owner of more than half the nation’s mortgages is contrary to 200 years of American legal precedent.

Continue here…

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Part II

http://www.scribd.com/full/33679187?access_key=key-795n4c7e7xreprv28yr

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Part III

http://www.scribd.com/full/33679319?access_key=key-16v5sbgda4zf6ka6eox5

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RELATED STORY:

MERS Good Information Foreclosure Subprime Mortgage Lending and MERS, VP MERS, AUTHORIZED SIGNATORY

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4 Responses to “QUI TAM: MERS et al sued for FRAUD, Billions in Penalties”

  1. Sherry says:

    As a mobile closing agent I have seen the paperwork change regarding MERS from disclaimers, to the latest is asking the homeowner to sign an affidavit stating they know that MERS is the beneficiary. As an signing agent I will ask my clients if they can explain to me what MERS is and do they agree with MERS being the beneficiary. When they ask ‘what is MERS?’ – I will not allow them to sign the affidavit and pull it from the file. Some very underhanded means of greed :(

  2. Ron Moss says:

    MERS is nothing more than the innovative Jesse and Frank James sent out to steal from the homeowner to send to Their friends and relatives in Germany and Swiszertland and other Mafia banking families, the fruits ou the endeavors of our nation

Trackbacks/Pingbacks

  1. [...] You know this is outrageous! They applaud MERS and write recommendations of how they are excited with MERS but yet MERS does nothing but conceal information from the borrowers and has secret agreements with the possible beneficiaries of these loans. MERS takes tax dollars away from our schools, children, counties etc. [...]

  2. [...] revanche, le texte d’une plainte similaire dans le Nevada est disponible en ligne, qui ne chiffre pas le dommage total, mais demande de 5 à 10 000$ de [...]


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