Who’s Who in the Foreclosure Scandal: A Primer on the Players
When it comes to untangling our mortgage foreclosure mess, the complexity of the process is part of the problem. Here’s a primer on the players involved.
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59 comments
Tony Cisneros
Dec. 24, 2010, 1:38 p.m.
rhonda: Do You Know Who Own OVER 51% Of The STOCK &-Or SHARES Of “BANK OF AMERICA” ?
THE ROMAN-“CATHOLIC” VATICAN “JESUITS” ! ! ! ! ! !
THIS IS RELIGIOUS “FLEECING OF THE SHEEP” ON A NATIONAL & GLOBAL SCALE ! ! ! ! ! ! ! ! ! !
BELIEVE YOU ME; THEY PLOTTED THIS—THE FINANCIAL RAPE OF AMERICA—WITH THE EUROPEAN ‘JEWISH” ROTHCHILD BANKING DYNASTY—SINCE ITS FOUNDING IN 1776 ! ! ! ! ! ! ! ! ! !
Tony Cisneros
Dec. 24, 2010, 1:39 p.m.
rhonda: Do You Know Who Own OVER 51% Of The STOCK &-Or SHARES Of “BANK OF AMERICA” ?
THE ROMAN-“CATHOLIC” VATICAN “JESUITS” ! ! ! ! ! !
THIS IS RELIGIOUS “FLEECING OF THE SHEEP” ON A NATIONAL & GLOBAL SCALE ! ! ! ! ! ! ! ! ! !
TRUST YOU ME; THEY PLOTTED WITH THE EUROPEAN “JEWISH” ROTHCHILD’S THIS FINANCIAL RAPE OF AMERICA SINCE ITS FOUNDING IN 1776 ! ! ! ! ! ! ! ! ! !
Tony Cisneros
Dec. 24, 2010, 1:43 p.m.
rhonda: Do You Know Who Own OVER 51% Of The STOCK &-Or SHARES Of “BANK OF AMERICA” ?: THE ROMAN-“CATHOLIC” VATICAN “JESUITS” ! ! ! ! ! !
THIS IS RELIGIOUS “FLEECING OF THE SHEEP” ON A NATIONAL & GLOBAL SCALE ! ! ! ! ! ! ! ! ! !
TRUST YOU ME; THEY PLOTTED WITH THE EUROPEAN “JEWISH” ROTHCHILD’S THIS FINANCIAL RAPE OF AMERICA SINCE ITS FOUNDING IN 1776 ! ! ! ! ! ! ! ! ! !
Mark Mausert
Dec. 26, 2010, 3:53 p.m.
In April, 2010, William C. Hultman (Secretary of MERS) testified MERS receives no consideration for the assignments which are routinely issued just prior to foreclosure. That is, MERS purports to assign the beneficial interest (which Secretary Hultman acknowledged, under oath, MERS does not have). An employee of the assignee, masquerading as an employee of MERS, usually signs the assignment. Usually, there are six falsehoods in each assignment. They are as follows:
1. MERS has an interest to assign.
2. MERS has assigned the interest
3. The “[f]or value received” language, i.e., MERS receives nothing for the assignment—which is in fact necessitated by the lie in the Deed of Trust—see,usually, paragrah (E) “MERS is the beneficiary under this security interest.”
4. The identity of the assignee—usually (although about 20% of the time not), a servicer is falsely identified as the beneficiary.
5. The proposition MERS ever possessed the Deed of Trust, or the promissory note (it did not).
6. The person signing the assignment works for MERS. In fact, that person usually works for the assignee, i.e., the assignee executed the assignment!
Mark Mausert
Dec. 26, 2010, 4:02 p.m.
Sorry, I inadvertently sent the comment without finishing. See above for the beginning of the comment. The third lie, “for value received,” is very interesting. Nevada has a statute (NRS 40.451) which incorporates by reference the deficiency statute (NRS 40.455). The statute (which has yet to be interpreted by a court) appears to limit the amount of a deficiency judgment, i.e., the amount paid by the lienholder controls whether there is exposure to a deficiency judgment, and if so, in what amount. Obviously, if the entity which is purporting to be the lienholder in fact paid nothing for the MERS assignment, well, there is no exposure to a deficiency judgment. A pointed question to ask at any procedure, or via correspondence to your servicer (or the actual beneficiary if you are able to determine the identity thereof), is how much was paid for the assignment. The answer (nothing) gives the lie to the facade. Why would MERS assign, for instance, a $350,000 interest in return for nothing? It would not. The bogus assignment is a necessary byproduct of the first lie, found in the Deed of Trust. R.K. Arnold’s testimony was in sync. Mr. Arnold is the President/CEO of MERSCORP, Inc.—and is also an Officer of MERS. Arnold was deposed on September 25, 2009. He testified at length to the effect MERS does not possess a beneficial interest and does not transfer any beneficial interest. When his testimony is juxtaposed to the assignments (which serve as the foundation for millions of foreclosures) and which purport to assign the beneficial interest which MERS does not have, well, something is very, very wrong.
Katie
Jan. 22, 2011, 6:29 p.m.
Here’s a question for people to consider—what about the folks who bought a home that was way above their means? They can’t make the payments and now it hits the market in foreclosure or a short sale. Yes, someone did lend them the money and that someone was greedy, but the buyer surely should have had common sense enough to know that s/he cannot afford a $150k home on a salary of $30k a year. I know that this is not true in all cases but there are times when a home owner is legitimately faced with the prospect of losing a home such as job loss, illness, etc.
I have been looking at homes to purchase for the better part of 6 months. Believe me, there are a lot of them out there that have more money owed than the original purchase price. I have also seen nice homes literally trashed inside, furnaces and a/c units removed, cupboard doors missing, holes in walls, etc….presumably done because the previous owner was mad at the lender. There is blame on both sides of the fence. In my neck of the woods so many people lost jobs because of auto plant closings that I would venture to say a large portion of homes for sale here are in or near foreclosure. Robo signers are wrong but what brought that on in the first place? I am not defending the lenders who did it. Just asking everyone to think it thru.
susan
Jan. 22, 2011, 9:03 p.m.
I am very happy that you are in a position to go out and buy a house at this time God Bless you! I will not pass judgement on what you did to do that but don’t pass judgement on how people who have been mis treated by the banks have dealt with their life. I have not destroyed my home . But I know others that have had heart attacks and died. My husband had a stroke because of the bank. So if people get ther aggressions out in other ways to save their health so be it. Good luck to you in your search for a home . My advice is Don’t Buy! a foreclosed house. Watch the movie “The House of Sand and Fog” ! You will have bad Karma for your family!
Joan
April 6, 2011, 1:12 p.m.
I have paid my mortgage on time and in full. In fact, my mortgage payments were automatically deducted from my checking account. This hasn’t stopped LBPS from trying to foreclose on me and report my “late payments” to the major credit bureaus. I refinanced my home in August 2007. LBPS took over my mortgage from Bank of America and immediately put my home in foreclosure. Why…they had the payments…they just didn’t credit them to my account!
Jp
Jan. 16, 11:53 p.m.
I believe everything about these robo signets and wells Fargo. In 2006 I was raped and we moved we had everything set up for short sale and every offer was denied. Every call we made to wells Fargo they never disclosed full information we needed. Even had a realtor quit us because he could not work with them. We had an offer 30k low than what we owed. But more than the newest value of the house due to lowering housing value. They foreclosed and then sold it for 20k less than our offer.