Foreclosures Called Into Question by MERS Ruling; Thousands of Cases Could Be Affected

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Foreclosures Called Into Question by MERS Ruling; Thousands of Cases Could Be Affected

Foreclosures Called Into Question by MERS Ruling; Thousands of Cases Could Be Affected

The Daily Weekly-

The state Supreme Court yesterday called into question numerous foreclosures that have been done in this state, and opened the door for lawsuits by homeowners given the boot. Just how many foreclosures are we talking about? “Hundreds if not thousands,” says Melissa Huelsman, a lawyer representing one of the plaintiffs in the case.

The case concerns that nebulous entity, the Mortgage Electronic Registration System, known more commonly as MERS. The Virginia-based company became the Big Brother of the mortgage world. It was everywhere, yet few people knew exactly who was behind it or how it operated.

What is known is that the company started as a way for lenders to get around costly and time-consuming local deed recording procedures. MERS, acting on behalf of lenders, instead registered deeds electronically instead through a centralized system. But MERS’ involvement didn’t stop there. Somehow, the company also came to be listed as the “beneficiary” of deeds in many states, including Washington. And when it came time to foreclose, MERS often initiated the action.

[THE DAILY WEEKLY]

Read Ruling: BAIN vs. METROPOLITAN MORTGAGE GROUP INC. | Wash. Supreme Court: MERS CANNOT BE BENEFICIARY IN WASHINGTON STATE!

 

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3 Responses to “Foreclosures Called Into Question by MERS Ruling; Thousands of Cases Could Be Affected”

  1. Sarah says:

    …and for the other states? Where’s that celebratory Eaton attorney? Any thoughts sir? Class warfare meets law degree? Come out and play!

  2. dani says:

    JUDGES IN THE USA COURTS IN MOST STATES STILL LOOK THE OTHER WAY TO THE FRAUD OF MERS AND BANKSTERS THAT SAY THEY REPRSENT MERS IN FRADULANT ASSIGNMENTS OF MORTGAGE NOTES ETC,SHAME ON THE JUDGES THAT KNOW THE FRAUD AGAINST US HOME OWNERS AND RUBBER STAMP THE FRADULANT FORECLOSURES FOR THE BANKS.GOD WILL PANISH YOU ONE DAY FOR HURTING THE AMERICAN PEOPLE

  3. Charles Reed says:

    Understand that in the State of Washington there was this bank called Washington Mutual Bank (WaMu) that did originate and purchase a ton of government insured loans in which the place into Ginnie Mae pools without selling the loans but did sign endorsing in Blank all the Notes.

    So now you got all these loans that are still in title as WaMu as the lender when in fact we know this to be untrue because they were seized on Sept 25, 2008 and declared a “fail bank” on that day by the FDIC and is a defunct bank who could not themselves act as a bank/lender so MERS surly cannot act as a surrogate and assign the Notes to another party because not only does WaMu not have a financial interest either does MERS or Ginnie Mae as neither have or can purchase a mortgage loan.

    So why do I know this to be true is because as the only black & veteran bank Prime/FHA/VA loan officer in the country facing the same hardship as my fellow brothers in Arms I have has to battle Uncle Sam in our battle. As this was difficult to uncover, but once the scam was uncovered it simply where you must have purchase something in order to call a debt due and Ginnie Mae that is in possession of we the Veteran & Active Duty Notes never ever has purchase the Blank Notes needed for WaMu to participate in selling Mortgage Backed Securities!

    It game over as 100’s of thousands of us along with FHA borrowers have been victimized by Ginnie Mae, MERS, Wells Fargo and other party where none of them are owed a debt at all and it was WaMu’s gamble to take in relinquishing the Blank Notes which separated the debt and there is no way to reunited the two!

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