We know for a fact and the government knows for a fact that if MERS is on your documents, a cloud also exists.

Their “quick fix” might come as simple as accepting a modification, principal reduction or a refi, to cover this all up and creating new paper.

If any of your new docs have MERS or a like, what have you done again?

Statesman-

The ownership of tens of thousands of Central Texas home loans could be in question because of the actions of a national private registry that officials say has sidestepped the filing of proper documents with county clerks, the American-Statesman has learned.

The Mortgage Electronic Registration System was created in the 1990s by 3,000 of the nation’s largest lenders to “streamline the mortgage sale process by using e-commerce to replace paperwork,” according to the company’s website.

In recent years, the Virginia-based registry has exploded across the U.S. as mortgages increasingly were bundled and sold as commodities in rapid churn to investors.

[STATESMAN]

Mark my words, Someone is going to die from all the frustration these banks are causing and they are going to regret they ever fraudulently foreclosed on that person. If it hasn’t occurred already.

There are very ill people out there and this is going to cause a severe tragedy, for an unavoidable circumstance.

A banker says Nancy Gosselin made the mortgage payments on her St. Louis Park house, but CitiMortgage seems determined to foreclose.

Star Tribune-

Nancy Gosselin cannot understand why CitiMortgage is about to foreclose on her St. Louis Park house. Neither can her local banker or the Minnesota attorney general.

At the heart of the dispute is a single monthly payment of $584 that CitiMorgage says she failed to make more than two years ago, according to the attorney general’s office. Gosselin says she made all her payments. A loan officer at Bremer Bank agrees. The attorney general’s office, which says it can’t get a straight answer from CitiMortgage, has urged the mortgage giant to stop the foreclosure and work out a deal.

But the fallout from the alleged missed payment has been a series of cascading late fees and penalties and refused payments that has culminated in CitiMortgage’s threat to auction Gosselin’s home at a sheriff’s sale Dec. 2

“I did nothing wrong. This is very frustrating,” said Gosselin, standing on the sidewalk last week in front of her house on Xenwood Avenue S.

[STAR TRIBUNE]

EX PARTE COMMUNICATION, TOO

KWTNBLUE-

It was just a routine foreclosure case. Nothing special. Just another poor smuck losing his house. The pupose of the hearing was to determine how much the smuck was going to have to pay the bank in addition to giving up his house. In legalese, that’s a deficiency judgement. The smuck appealed to the Third District Court of Appeals— but he lost there, too. A three-judge panel voted 2-1 in favor of the bank.

Appeals Judge Juan Ramirez Jr was the sole dissenting judge— but, boy, was his dissenting opinion a barn-burner! “In my view, to affirm what happened here requires that we turn a blind eye to the Florida Rules of Civil Procedure, the Florida Bar Rules of Professional Conduct, and the Code of Judicial Conduct, to say nothing of the Constitutions of the United States and the State of Florida,” Judge Ramirez wrote.

“I dissent because I cannot condone the unprofessional and unethical means used by the bank’s counsel, with the trial court’s complicity, to obtain an amended final judgment in this case. Counsel for Centennial Bank admitted at oral argument that the amended final judgment, which more than doubled the amount of the deficiency judgment, was obtained after an ex parte communication with the judge’s chambers.

“Either the judge or her staff then advised counsel on how to proceed,” Judge Ramirez continued. “Not only was it improper for the trial court to give legal advice, but the advice was wrong— directing counsel to send a letter with a proposed amended final judgment, rather than to file a motion seeking appropriate relief. This was then followed by another ex parte communication— a letter from the bank’s counsel to the judge, that then resulted in a new final judgment two and half times larger than the previous final judgment. The bank did not even send a copy of the letter to the appellant.”

[KWTN]

Scribd

I have mixed emotions on this one because I am seeing California teeter totter, not sure of the outcome. As Matt Stoller wrote about AG Kamala Harris Network:

she shares them with President Obama, who endorsed her late in 2010 for the AG office. Her brother-in-law, Tony West, was key fundraiser for Obama in California, having helped raise $65 million for Obama in the state, and he is considered a rising star in the Democratic Party. He now works at the DOJ and has expanded the Civil Rights department to take on some elements of mortgage fraud. The DOJ has an internal directive to make mortgage fraud a top priority, but what mortgage fraud means to the DOJ are mortgage modification scams and penny ante borrowers ripping off fly-by-night lenders. West, while not the direct actor in the DOJ’s settlement talks, is in all likelihood involved in pressure on state AGs to sign on to a settlement. And it’s simply inconceivable he hasn’t dealt with his sister-in-law and political ally on the matter. Harris and West are part of a coherent political network, and much of the strength of that network has to do with reinforcing the traditional bank-friendly policies of the Democratic elite and then using that to create political support.

The first indication that as California AG Harris was more sympathetic to the Obama side of the ledger on banking is that one of her first decisions as AG was to let off Angelo Mozilo without admitting to wrong-doing or personally paying a fine (the small money that went to restitution came from Bank of America shareholders). I suspect the issue is actually more personal to her than legal, not because she particularly cares about finance or foreclosures, but because her friends and allies are very concerned about ensuring that the banks get a release. In their view, this will cause the housing market to clear, the economy to recover, and then help reelection chances.

The political problem for Harris is that she was elected by liberal votes, and she’s getting enormous public pressure to resist signing on to a settlement that is perceived as favorable to the banks. While she backed out of an immediate settlement a few weeks ago, she refused to join the joint investigation by Eric Schneiderman and Beau Biden of the foreclosure fraud crisis. She has sat on the sidelines, trying to figure out what to do.

Appeal-Democrat has a different view-

There is no three-strikes law for crooked bankers, not even a law for a fifth strike, as The New York Times reported in the case of Citigroup, cited last month in a $1 billion fraud case. Unlike the California third-striker I once wrote about whom a district attorney wanted banished forever to state prison for stealing a piece of pizza from the plate of a person dining outdoors, Citigroup executives get off with a fine and by offering a promise not to do it again, and again and again.

As the Times reported when Citigroup agreed to settle SEC charges last month: “Citigroup’s main brokerage subsidiary, its predecessors or its parent company agreed to not violate the very same antifraud statue in July 2010. And in May 2006. Also as far back as March 2005 and April 2000.”

Highly recommend that if anyone wants to go after MERS, you first read STATE OF DELAWARE v. MERSCORP, Mortgage Electronic Registration Systems, Inc., (MERS) to get familiar with some specifics. 

Observer- Reporter

U.S. Bank National Association has asked U.S. District Court to hear a class-action suit, filed by Washington County on behalf of all counties in the state, over the association’s failure to use the recorder of deeds offices to record mortgages, denying counties the related fees.

Washington County first took the case to Washington County Court, but the bank is now seeking a change in jurisdiction. The county alleges that more than $100 million has been lost in recording fees by all 67 counties in the state.

The county alleges U.S. Bank National Association, as trustee for various residential mortgage-backed security trusts, violated state law by failing to record “each and every mortgage transfer.”

The bank instead used a private entity, Mortgage Electronic Registration Systems Inc., for recording, “thereby depriving Washington County of the accompanying recording fees” for 15 or more years.

[OBSERVER-REPORTER]

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