Sorry about the quality…had to go with what I had at the time.
NOTE: Mr Arnold said there is 20,000 who sign 7 documents but not in this clip.
- Ms. Diane E. Thompson Counsel National Consumer Law Center
- Mr. R. K. Arnold President and CEO Mortgage Electronic Registration Systems, Inc
I wish I could have recorded this on HD so everyone can witness some of the lies the Bank Reps were telling. They are really out of touch with reality.
At one point when JPMorgan’s David Lowman began to speak some attendees stood up and yelled, then escorted out the room after a brief pause.
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<SNIP>
SHELBY: I CAN SEE WHO OWNS THE MORTGAGE?
ARNOLD: There is no assignment if MERS is the Mortgagee
SHELBY: THATS WHERE I’M GETTING…
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Can’t type fast…so you can make do!
KEEP TRACK OF THE BANKING COMMITTEE’S HEARING AND ACTIVITIES. There is no way they can go back to back room deals – the cat is out of the bag. Too many people know…
http://www.google.com/url?q=http://banking.senate.gov/&sa=U&ei=vOPjTPWfHIiasAPO-5Vo&ved=0CBYQFjAA&usg=AFQjCNFYw4yzWBaHu6TFkYxNPVbALvK_QQ
The statement that most caught my ear was Senator Shelby’s definitive shot across MERS and Arnold’s bow, “I think that when you deviated from the basic property laws of the country, you got yourself into trouble, maybe I’m wrong?”