False Statements: R.K. Arnold, Mortgage Electronic Registration Systems


False Statements: R.K. Arnold, Mortgage Electronic Registration Systems

False Statements: R.K. Arnold, Mortgage Electronic Registration Systems

False Statements

R.K. Arnold
Mortgage Electronic Registration Systems

Action Date: November 18, 2010

As the many problems (frauds) are exposed regarding documents used by mortgage-backed trusts in foreclosures, some revelations stand out. Literally millions of foreclosures by mortgage-backed trusts hinge on a Mortgage Assignment signed by an officer of Mortgage Electronic Registration Systems (“MERS”) showing that the mortgage in question was transferred to the trust by MERS. The “MERS officer” who signs the Mortgage Assignment is actually most often an employee of a mortgage servicing company that is paid by the trust.

MERS itself has only 50 employees and they are not involved in signing mortgage assignments to trusts. These servicing company employees sign as officers of MERS “as nominee for” a particular mortgage company or bank. They are not employees of the mortgage companies or employees of the original named lender, but their titles on the Mortgage Assignment belie this and typically read: “Linda Green, Vice President, Mortgage Electronic Registration Systems, Inc., as nominee for American Brokers Conduit.”

MERS president R.K. Arnold testified in Senate testimony earlier this week that there are over 20,000 MERS “certifying officers.” To become a MERS certifying officer, a mortgage servicing company employee need only complete an online form and pay $25.00. Because of the concealment of the actual employer on the Mortgage Assignments, it is easy enough for Courts, and homeowners, to believe that they are examining a document prepared by the lender that sold the mortgage to the trust, when, in fact, the signer was a servicing company clerk paid by the trust itself.

The representative of the GRANTOR is, in truth, a paid employee of the GRANTEE. In hundreds of thousands of cases, the authority is, therefore, misrepresented. It is now also coming to light that in tens of thousands of cases, the individuals signing these forms did not even sign their own names. The documents were made to look official because other mortgage servicing company employees signed as witnesses and then all four “signatures” were notarized by yet another mortgage servicing company employee. The titles were false, the signatures were forged, the “witnessing” was a lie, as was the notarization. Despite all of these false statements, the BIGGEST LIE on these documents is that the trust acquired the mortgage on the date stated plainly on the Mortgage Assignment. In truth, no such transfers ever took place as represented by these MERS certifying officers (or their stand-in forgers). The date chosen almost always corresponds not to an actual transfer, but to the date roughly corresponding to the time the loan went into default. The Mortgage Assignment was prepared only to provide “proof” that the trust owned the mortgage. Until courts require Trusts to come forward with actual proof that they acquired the mortgages in question, specifying whom they paid and how much they paid for each such trust-owned mortgage, the actual owner of these mortgages will never be known.

In response to the exposure of the widespread fraud in the securitization process, the American Bankers Association issued a statement essentially saying that Mortgage Assignments were unnecessary. Investors and regulators were told, however, that the trusts owned the mortgages and notes in each pool of mortgages and that valid Assignments of Mortgages had been obtained. Where the proof of ownership put forth by the trusts is a sworn statement by a MERS “certifying officer” who had no knowledge whatsoever of the transactions involved and did not even review documents related to the transactions, such proof of ownership should be deemed worthless by the Courts. Other litigants are not allowed to manufacture their own evidence and offer it as proof at trial – there should be no exception for mortgage-backed trusts.

In particular, where the “MERS Certifying Officer” is actually an employee of the law firm hired to handle the foreclosure, such documents should be stricken and sanctioned. “MERS Certifying Officers” should be the next group required to testify before Congress. Here are the statistics for one Florida county, Palm Beach County, regarding the number of Mortgage Assignments filed by Mortgage Electronic Registration Systems: January, 2009: 1,164; February, 2009: February, 2009: 1,230; March, 2009: March, 2009: 1,113. An examination of just one day’s (March 31, 2009) filed Mortgage Assignments reveals that the signers of these Assignments are the very same mortgage servicing company employees who signed the “no-actual knowledge” Affidavits that triggered the national scrutiny: Jeffrey Stephan from Ally, Erica Johnson-Seck from IndyMac, Crystal Moore from Nationwide Title Clearing, Liquenda Allotey from Lender Processing Services, Denise Bailey from Litton Loan Services, Noriko Colston, Krystal Hall, and other well-known professional signers from the mortgage servicing industry. The most frequent signers from that particular day were two lawyers, associates in the law firm representing the trusts, who signed as Assistant Secretary for Mortgage Electronic Registration Systems.

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7 Responses to “False Statements: R.K. Arnold, Mortgage Electronic Registration Systems”

  1. I have 4 PHH originated “loans” all have NOTES in the name of PHH Mortgage and Deed of Trusts naming MERS as the Beneficiary, thus splitting the NOTE and Security instrument from day one at closing. PHH was one of the early on famous cases where Ms. Tracy Joohnson signed Trustee assignments, mortgage assignments and affadavits swearing foreclosure proceedings were valid based on her notarized signature as PHH Vice President on some documents and as Acting Vice President of MERS on others. As we all know in the famous PHH Mortgage fraud case, Ms. Johnson was subpeoned to testify for a deposition in that case but refused to testify under oath. Phh is in the upper 10 of the loan servicers involved in this fraudulent Securitization scheme. Why are they not being scrutinized any further? They are foreclosing on thousands of homes in Arizona and other non-judicial states and when the homeowner files bankruptcy to be protected from their deceptive and fraudulent practices, they continue to file claims in federal bankruptcy court as if they are the actual creditors with standing to bring foreclosure action, when we all know they sold the loans to Fannie Mae investors years ago but fraudulently omitted the actual transfer of NOTE and DEED of trusts to the investor pool trust all as a result of the MERS hide the peanut shell game so know one knows who the actual trust owners really are and the investors biught MBS investments that are not actually backed by any security instrument, since it was never legally transferred with the NOTE if the DOT was even transferred at all. I would like to see the actual number of times Ms. Tracy Johnson has forged MERS or PHH documents like she did mine. Keep in mind, PHH is based on New Jersey, MERS is based in Texas and also in Minnesota, My four homes are located in Phoenix AZ, yet for some reason Ms. Johnson either lives in Florida or just conveniently flies down there to have her signature notarized on my four loans to transfer trustee assignments from a perfectly capable independant third party Title Company Trustee to another foreclosure mill attorney teamed up with yet another infamous foreclosure Mill Attorney law office named “SHAPIRO”, who teams up with practicing attorneys in all individual states PHH and other banks are foreclosing in. Shapiro is another common link in this massive FRAUD that the foreclosure mills have been providing with all of their robo signers like Ms. Tracy Johnson of PHH or MERS or whatever hat she is wearing for the moment to steal yet more homes they have no standing on. PHH has refused to admit they are not the creditors to the court, yet they refuse to answer any QWR questions stating they are merely the servicer of the loan!!. Hellp me find other’s who have been frauded by PHH and Ms. Tracy Johnson and the wonderful Shapiro mill. dmgfromca@msn.com
    Thank you

  2. Sandy says:

    Please see the testimony from Arnold about MERS.

    On the CSPAN video at 2:14:30, Arnold says “the note and the mortgage come together at foreclosure.” Doesn’t that prove that the two are separated earlier in the process, thus the mortgage/deed of trust becomes unenforceable?

  3. Sandy says:

    I just checked Arnold’s written testimony, and it does not include the statement about the two (note and mortgage/deed of trust) coming together at foreclosure. That seems very strange to me.

  4. DickKohn says:

    Has someone challenged his (arguably perjurious) Senate Banking Committee oral testimony that the identity of the trust (as well as the trustee) is available at MERS’ https://www.mers-servicerid.org/sis/ website????

  5. theelbow says:

    one unusual observation, for whatever it is worth… the original CSPAN video posted was about 15 minutes longer than it is now.

  6. Melanie says:

    I actually called PHH in Florida and there is no extension number to Tracy Johnson. Also, the switchboard operator or whatever you would call the person who directs calls didn’t have an extension and could not direct me to Tracy Johnson. I commented that I knew she wasn’t really there. She kind of laughed nervously and said, “She doesn’t?” Um yeah, total BS!!! I’m wondering if Tracy Johnson really exists.

    Has anyone noticed where they use common names that if you google/use yellow pages etc., you get a dozen responses? I just don’t think that this is a coincidence.


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