Think about why MERS would want this case moved? Do they have a connection there? hmmm
National Mortgage News-
A federal judicial panel denied a motion to include the Dallas County district attorney’s lawsuit against Merscorp in the ongoing multidistrict litigation against the private loan registry in Phoenix.
In its motion, Merscorp, the Reston, Va.-based parent company of the Mortgage Electronic Registration Systems, argued the claims in the Dallas County case are common with the other MDL cases and meet the panel’s requirements that consolidation would promote the convenience and “just and efficient conduct of the action.” But the judicial panel ruled there are important distinctions between the MDL and Dallas County cases.
“Most importantly, all existing MDL actions were brought by homeowners or borrowers who brought suit concerning their impending or completed foreclosure. In contrast, Dallas County involves the propriety of the MERS system’s failure to pay recordation fees under Texas’s recording statutes,” the judges’ order reads.
FIVE big banks finally reached a deal with government authorities last week over dubious mortgage practices and foreclosure abuses.
After months of talks, Ally Financial, Bank of America, Citibank, JPMorgan Chase and Wells Fargo agreed to pay a total of $5 billion in cash to try to remedy this fiasco. They will also help homeowners who are underwater on their mortgages by reducing the principal on their loans by a combined $17 billion over the next three years.
Borrowers who qualify will get $3 billion in refinancing arrangements. Those who were improperly foreclosed on will get a combined $1.5 billion. That probably nets out to less than $2,000 a person.
If we stole $200k from a bank can we get away from any jail time and only pay back $2K to settle the deal?
Will they still come after you for a deficiency judgment and use this to pay for the % they must pay from the $25 billion dollar settlement? Because as you know taxpayers may have to fork over the % the investors don’t pay for their Fraudulent Activities not to mention having destroyed title to millions of homes.
From the video below I am not certain if Beau knows the settlement terms will get worse because it’s yet to be signed?
