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Action Alert – Facing foreclosure in Massachusetts? Please call your reps asap – the vote is 5/16/2012!

Action Alert – Facing foreclosure in Massachusetts? Please call your reps asap – the vote is 5/16/2012!


via: BOSTON67

Jamie Ranney, Esq. vs FRAUDclosures

There is a bill pending in the Massachusetts Legislature called H-04083 that is designed to provide more requirements that lenders work with  borrowers to provide real loan modifications before they can commence foreclosure and to hold lenders accountable where they unlawfully foreclose.  Unfortunately, the bill suffers from some substantial weaknesses which I have tried to remedy with edits and amendments.

The bill is scheduled to be voted on – THIS WEDNESDAY MAY 16, 2012 – so your immediately action is needed.

I would ask that you take the time to immediately contact your state representative and state senator, ask them to stand up for  the homeowners and borrowers of the commonwealth and request that they amend H-04083 to include these changes and amendments.  You can email the edits and comments directly to your state rep and state senator.

Their contact list can be found here: http://www.malegislature.gov/People/FindMyLegislator

Please email the following amendments and a memo explaining them:
Bill H-04083 edits    Memo RE H-04083 amendments and edits

© 2010-17 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.



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ROCKWELL P. LUDDEN, THE MERS MORTGAGE IN MASSACHUSETTS: GENIUS, SHELL GAME, OR INVITATION TO FRAUD?

ROCKWELL P. LUDDEN, THE MERS MORTGAGE IN MASSACHUSETTS: GENIUS, SHELL GAME, OR INVITATION TO FRAUD?


BY: ROCKWELL. P. LUDDEN

But Mousie, thou art no thy lane,
In proving foresight may be vain:
The best-laid schemes o’ mice an’ men
……………Gang aft agley,
An’ lea’e us nought but grief an’ pain,
……………For promis’d joy!

To a Mouse, Robert Burns

MERS, the Mortgage Electronic Registration Systems, was the creation of a mortgage industry
beset by a tremendous spike in the rate at which mortgage assets were being passed around on the
secondary market in an effort to reap the benefits of securitization. More transfers meant more
paperwork, more trips to an increasingly backlogged county land office, more assignments and
other mortgage-related documents to record, and of course more filing fees. Finally the industry
came up with a plan, ingenious on its face, and yet shrouded in just enough mystery to conceal a
number of assertions that are, upon closer scrutiny, decidedly untenable within the framework of
existing law. Further gaps in the system have allowed unscrupulous individuals to play fast and
loose with the foreclosure process, and although MERS has taken steps to prevent such mischief
in the future the damage already done is of potentially staggering proportion.

The mortgage industry had a number of objectives, a salient of which was the creation of
a privately run, electronic database that would be far more efficient and cost-effective in tracking
the beneficial interests in mortgage loans, servicing rights, and warehouse loans than the traditional
system of county recording offices. With today’s information technology this proved to be
a challenging but nonetheless straightforward undertaking. But there was another objective as
well, one that was far more ambitions—and problematic: to design a system that would allow
successive owners of a mortgage loan to avoid the time-consuming and costly process of having
to run to the local land office to file the necessary paperwork every time a transfer of the mortgage
took place. It is in the methodology by which this latter objective would be accomplished
that the intrigue begins.

The idea was for MERS to be set up as a member organization the members of which
would all individually agree to name MERS as the mortgagee of record in the local land office.
MERS would then track the mortgage loan electronically through its database and, because of the
agreement with its members, would remain the mortgagee of record at the local land office. Thus
the only time an assignment would be recorded would be if the mortgage loan were transferred
out of the MERS system or the actual owner of the mortgage were planning to foreclose in its
own name. This would not only save time and money but add liquidity to the secondary market
as well, thereby making mortgage assets more attractive to investors. Simply put, the goal was to
enable MERS’s designation as mortgagee in the public records to survive and persist in spite of
multiple transfers of the underlying economic obligation on the secondary market.

It was a brilliant idea—or so it seemed.

[ipaper docId=72486193 access_key=key-6gw5dyo43w041j0zt3h height=600 width=600 /]

 

© 2010-17 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.



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Madden sponsors legislation for protection on foreclosures

Madden sponsors legislation for protection on foreclosures


From ACK.net [link]

Working with island attorney Jamie Ranney, state Representative Tim Madden has sponsored a bill that would address a number of controversial issues surrounding contested foreclosures cases, including the valid recording of assignments of securitized loans, so-called “robo-signing” by lenders and their agents, and perceived abuses by Mortgage Electronic Registration System, or MERS.

© 2010-17 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.



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MA State Rep. Tim Madden’s House Bill No. HR 2766 Proposed Amendments and New Sections to Mortgage Laws

MA State Rep. Tim Madden’s House Bill No. HR 2766 Proposed Amendments and New Sections to Mortgage Laws


This is a very important bill to start cleaning up the mess created by the banks in the foreclosure crisis that is sweeping MA and the rest of the country.

Highlights include the elimination of MERS’s ability to “hide” transactions and avoid recording fees, defining what a mortgagee is in MA, requiring that all notary acknowledgements be completed in accordance with the requirements for notaries laid down by the Governor and others.

PLEASE forward this to as many people as you know that can contact their MA state Senator AND Rep. and send in written support for it.

Your support for HR2766 can be mailed (addresses below) or e-mailed to anthony.petruccelli@masenate.gov AND michael.costello@mahouse.gov.

Please CC your support to timothy.madden@mahouse.gov

It should be addressed to the Chairmen (please do not send any packages other than an envelope as it might get rejected):

Senator Anthony Petruccelli, Chairman

State House
Room 424
Boston, MA 02133

Representative Michael A. Costello, Chairman

State House
Room 254
Boston, MA 02133

Click For Summary of HR 2766

[ipaper docId=51613446 access_key=key-2mhf56chd9ua46klq8pp height=600 width=600 /]

© 2010-17 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.



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MERS Response to D.C. Attorney General’s Nickles Statement

MERS Response to D.C. Attorney General’s Nickles Statement


MERS Response to D.C. Attorney General’s Oct. 28, 2010 Statement of Enforcement

RESTON, Va., Oct. 28, 2010—In response to the Statement of Enforcement by the Attorney General for the District of Columbia, we agree that no homeowners should be subjected to deceptive practices during the foreclosure process. To ensure that homeowners readily have necessary information available to them, the MERS® System provides free access to any member of the general public to identify the current servicer and the note owner, if the note-owner has agreed to be disclosed, on their loan. Ninety-seven percent of MERS members agree to be disclosed. The MERS® System is the only comprehensive publicly available source of servicing and ownership of more than 64 million mortgage loans.

Mortgage Electronic Registration Systems, Inc. (MERS) holds the security interest in the deed of trust when MERS is identified as the beneficiary of record, as nominee for the lender and the lender’s successors and assigns. At closing, the lender and borrower name MERS as the beneficiary. The deed of trust is recorded with the Recorder of Deeds in compliance with the District of Columbia’s laws. MERS executes an assignment if the security interest is transferred from MERS to another entity and the assignment is recorded. For example, if the mortgage loan goes into default, and MERS is not the foreclosing entity, then MERS will execute an assignment showing the transfer of the security interest from MERS to the note-holder who will be foreclosing. The assignment is recorded as required under DC’s laws.

When MERS forecloses, MERS is already recorded in the land records as the security interest holder and requires under its membership rules to be in possession of the note in order to be the note-holder. Under either option, in compliance with DC’s laws, the notice of foreclosure sale represents to the homeowner the identity of the note-holder and that the note-holder’s security interest has been recorded.

Any MERS member who experiences a problem related to the recent Statement from the Attorney General for the District of Columbia is asked to immediately notify MERS. We will take steps to protect the lawful right to foreclose that the borrower contractually agreed to if the borrower defaults on their mortgage loan.

###

Source: MERS

© 2010-17 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.



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D.C. Attorney General Peter Nickles Names MERS In Statement On Foreclosures

D.C. Attorney General Peter Nickles Names MERS In Statement On Foreclosures


October 27, 2010

Attorney General Issues Statement on Foreclosures in DC

Attorney General Peter Nickles issued an enforcement statement today describing when the notices used to commence foreclosures in DC may mislead homeowners and violate the District’s consumer protection law. The statement clarifies that a foreclosure may not be commenced against a DC homeowner unless the security interest of the current noteholder is properly supported by public filings with the District’s Recorder of Deeds.

A noteholder’s security interest in a DC home should normally be reflected in the public land records maintained by the District’s Recorder of Deeds. Under District law, in contrast to the laws of many states, each deed or other document transferring a mortgage interest must be recorded with the Recorder of Deeds within 30 days of execution. This requirement is not satisfied by private tracking of mortgage interests through the Mortgage Electronic Registration Systems (MERS).

The District has a non-judicial foreclosure process that begins with a Notice of Foreclosure on a form prescribed by the Recorder of Deeds. The form requires identification of a “Holder of the Note” and a “Security Instrument recorded in the land records of the District of Columbia.” According to today’s enforcement statement: “The homeowner who receives such a notice is entitled to presume that the recordation of the security interest complies with District law, and that each intermediate transfer of the security interest between the original maker of the note and the current holder of the note is documented in the public record.”

When a foreclosure sale notice misrepresents to a homeowner that the foreclosing noteholder has a recorded security interest, the homeowner may fail to seek legal help in determining whether there may be a good basis for challenging the foreclosure in court. Misrepresentations of material facts, when made to homeowners or other consumers, violate the District’s Consumer Protection Procedures Act, which is enforced by the attorney general.

The enforcement statement invites “homeowners or their advocates” to inform the Office of the Attorney General (OAG) if foreclosures “continue to be commenced or pursued with deceptive foreclosure sale notices” so that the Office may consider bringing enforcement actions to stop foreclosure proceedings and seek restitution for consumers.

A homeowner should not be misled into believing that a threatened foreclosure is supported by the District’s public records when it is not,” Nickles said.

Continued use of deceptive foreclosure sale notices may be reported to the attorney general’s consumer hotline at 202-442-9828.

Foreclosure Statement*

Source: Office of D.C. Attorney General

© 2010-17 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.



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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.

© 2010-17 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.



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TILA Statute of Limitations

TILA Statute of Limitations


Source: Livinglies

Editor’s Note: Judges are quick to jump on the TILA Statute of Limitations by imposing the one year rule for rescission and damages. But there is more to it than that.

First the statute does NOT cut off at one year except for items that are apparent on the face of the closing documentation; so for MOST claims arising under securitization where almost every real detail of the transaction was hidden and intentionally withheld, the one year rule does not apply.

Second, the statute of limitations does not BEGIN to run until the date that the violation is revealed. In most cases this will be when the homeowner knows or should have known that the loan was securitized. Since the pretender lenders are so strong on the point that securitization does not affect enforcement, the best point in time for the statute to run is when a forensic analyst or expert tells the homeowner that TILA violations exist.

And THEN, in those cases where the information was hidden, the statute of limitations is three years from the date the information was revealed.

So when you go after undisclosed fees, profits and other compensation of any kind, you are not cut off by one year because — by definition they were not disclosed. The only way the other side can get out of that is by admitting the existence of the fee, and then showing that it WAS disclosed — presumably through yet another fabricated document, signed by a non-existent person with non existent authroity with non- existent witnesses and notarized by someone three thousand miles away (whose notary stamp and forged signature was applied to hundreds of pages of blank documents for later use). [Brad Keiser was the one who discovered this tactic by doing what most forensic analysts don’t do — actually reading every piece of paper sent by the pretender lender and every piece of paper provided by the homeowner. Case law shows that where the notary was improperly applied — and there are many ways for it to be improperly applied, the notary is void. If the statute requires recording the document in the public records, then the document so notarized shall be considered as NOT being in the public records and is ordered expunged from those records].

This comment from Rob elaborates:

Regarding the TILA Statute of Limitations:

STATUTE OF LIMITATIONS
When a violation of TILA occurs, the one-year limitations period applicable to actions for statutory and actual damages begins to run. U.S.C. § 1641(e).
A TILA violation may occur at the consummation of the transaction between a creditor and its consumer if the transaction is made without the required disclosures.
A creditor may also violate TILA by engaging in fraudulent, misleading, and deceptive practices that conceal the TILA violation occurring at the time of closing. Often consumers do not discover any violation until after they have paid excessive charges imposed by their creditors. Consumers who later learn of the creditor’s TILA violations can allege an equitable tolling of the statute of limitations. When the consumer has an extended right to rescind or
pursue other statutory remedies because a violation occurs, the statute of limitations for all the damages the consumers seek extends to three years from the date the violation is revealed.
McIntosh v. Irwin Union Bank & Trust Co., 215 F.R.D. 26, 30 (D. Mass. 2003).

© 2010-17 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.



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Who's Your Daddy 101? by: Nye Lavalle

Who's Your Daddy 101? by: Nye Lavalle


Pay attention or get an (F) for FORECLOSURE!

Nye Lavalle Said:

This may sound crude, but it’s the only analogy that’s easy for people and judges to understand.

A woman goes to a party or is promiscuous and sleeps with 6 men in a night or week. The following week she is pregnant. There is one man who is the best looking, strongest, best shape and richest of them all, so she wants him to be the father. Two other men who find out she’s pregnant claim paternity. NOW, before the age of DNA and computers and all, it was simply someone’s word and testimony against another.

However, with the advent o DNA testing and sequencing genes, we can tell who the father is. So, a judge would understand the following:

Judge, this has been a very promiscuous note. It’s gotten around (transfered, pledged, sold, assigned) quite a bit and it never used protection (recording in public records and indorsing note). After being with at least a dozen different partners, our note is now pregnant (ripe for pay off/liquidation).

The MOM (MERS, servicers) says Daddy #1 is the daddy, but the baby (original note) has blond hair and blue eyes judge and the mom and claimed dad are both dark hair and dark eyes so we’re suspicious.

Two dark hair and brown eyes men come forward and state: Judge we both slept with this woman during the time she claimed to be pregnant. Now, 3 different men have potential paternity.

NOW, THE ONLY WAY you can determine who the father (holder in due course) is to take blood samples (accounting, servicing, custody, and investor reports and data) from EACH MAN (servicer//transferee etc..) to see who’s DNA it was and all the others to determine the dad and who owes child support.

Unless you do the DNA (forensic analyses of all docs and records), it doesn;t matter what the bank lawyers, or servicers say, it what really transpired here!

Without seeing where that NOTE (not mortgage) came on and off anyones books; how it was endorsed and when; who has possession and custody and who negotiated the note and PAID for it, you’ll never be able to answer the age old question, “WHO’S YOUR DADDY?”

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