Fraudulent Assignments | FORECLOSURE FRAUD | by DinSFLA

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LENDERS TURNING TO OLD FASHION WAY OF “PAPER”, TURN AWAY FROM MERS

LENDERS TURNING TO OLD FASHION WAY OF “PAPER”, TURN AWAY FROM MERS


Thanks to a tip from California’s hero Brian Davies:

Lenders Turning Their Backs on MERS, Going Back to Paper

With more borrowers filing legal challenges to foreclosure, many mortgage lenders have turned their back on using MERSCORP Inc., which operates an electronic loan registry, to bring foreclosure actions. Some lenders are even returning to the old-fashioned, paper-based system of physically recording mortgage assignments at county recorder offices to ensure an unbroken chain of title.

© 2010-15 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.



Posted in STOP FORECLOSURE FRAUDComments (4)

MERS CALIFORNIA CASE |Rickie Walker Case California Mers Bk Ed 2010 |FULL SERIES OF FILINGS FOR CONVENIENCE

MERS CALIFORNIA CASE |Rickie Walker Case California Mers Bk Ed 2010 |FULL SERIES OF FILINGS FOR CONVENIENCE


Via: b.daviesmd6605

July 9, 2010
The United States Bankruptcy Court for the Eastern District of California has issued a ruling dated May 20, 2010 in the matter of In Re: Walker, Case No. 10-21656-E-11 which found that MERS could not, as a matter of law, have transferred the note to Citibank from the original lender, Bayrock Mortgage Corp. The Court’s opinion is headlined stating that MERS and Citibank are not the real parties in interest.

The court found that MERS acted “only as a nominee” for Bayrock under the Deed of Trust and there was no evidence that the note was transferred. The opinion also provides that “several courts have acknowledged that MERS is not the owner of the underlying note and therefore could not transfer the note, the beneficial interest in the deed of trust, or foreclose on the property secured by the deed”, citing the well-known cases of In Re Vargas (California Bankruptcy Court), Landmark v. Kesler (Kansas decision as to lack of authority of MERS), LaSalle Bank v. Lamy (New York), and In Re Foreclosure Cases (the “Boyko” decision from Ohio Federal Court).

[ipaper docId=35367042 access_key=key-d4ebco9y5kv6qg1e4bn height=600 width=600 /]

© 2010-15 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.



Posted in bankruptcy, chain in title, deed of trust, MERS, mortgage, MORTGAGE ELECTRONIC REGISTRATION SYSTEMS INC., noteComments (2)


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