General Discussion

ms.smiler

(551 posts)

18. We are a nation of clouded property Titles because of fraud, securitization and MERS.

Thu Jul 11, 2013, 09:44 AM

Jul 2013

I’m assuming the following: you signed a MERS mortgage, the Note was payable to Countrywide, and the Fannie Mae look up tool indicates that they own your loan.

Have you used your MERS MIN in their database?

Is anything recorded in your local land records after the original MERS mortgage?

It’s also important to know if your state is a may record state or a must record state. Many states like my own are must record states and MERS business model does not comply with the laws of those states.

Do you know if MERS even meets the legal definition of Mortgagee in your state? If MERS fails to meet that legal definition, your mortgage contract may lack a necessary party and be void by law.

Please don’t forget that robo-signing not only involved foreclosed properties but also Satisfaction of Mortgages as well.

Fannie, a REMIC has nearly all mortgage loans now although it’s the servicers who pretend to own the loans in the event of foreclosure. The servicers also pretend to own the loans when a loan is refinanced or paid. That is consistent with Fannie’s policies which they appear to believe supersede state law.

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Fannie Mae claims to have owned my mortgage a month BEFORE we bought the house! [View all] dixiegrrrrl Jul 2013 OP

Didn't you get the title researched? question everything Jul 2013 #1

Nope, can't track it....remember MERS???? dixiegrrrrl Jul 2013 #3

The mortgage was recorded on a certain date customerserviceguy Jul 2013 #4

Yeah, I can pop over to the courthouse and check dixiegrrrrl Jul 2013 #5

They're public records customerserviceguy Jul 2013 #6

Customerserviceguy, would you kindly comment for me on an unusual situation? ms.smiler Jul 2013 #21

My experience is about eight years old at this point customerserviceguy Jul 2013 #22

Succession of interest doesn't show in the chain DirkGently Jul 2013 #28

DirkGently, thank you. I was curious about the purchase of such assets. ms.smiler Jul 2013 #45

QCD is a strange thing for a lending institution to do. DirkGently Jul 2013 #46

Thank you again DirkGently. So the individual has no guarantee regarding the Title ms.smiler Jul 2013 #47

The QCD isn't a problem in itself. Might cause some a bit DirkGently Jul 2013 #48

Yes, but a lot of transactions were not recorded with the Recorder of Deeds locally Samantha Jul 2013 #10

I spent twenty-five years in the title insurance industry customerserviceguy Jul 2013 #11

I am repeating to you what was reported more than once at that time Samantha Jul 2013 #13

Then whoever the closer was customerserviceguy Jul 2013 #14

Here is just one example Samantha Jul 2013 #15

I'm fully aware of that story customerserviceguy Jul 2013 #16

My original mortgage WAS recorded. dixiegrrrrl Jul 2013 #19

My best guess customerserviceguy Jul 2013 #23

Dixiegrrrrl, that sounds like a lawsuit waiting to happen. pnwmom Jul 2013 #42

Yes, not the original mortgage but those bundled and backed by securities Samantha Jul 2013 #25

Yes, but that's not about recording of mortgages, but other recordings Yo_Mama Jul 2013 #17

This article better references what I am talking about Samantha Jul 2013 #24

Samantha, how about you compare MERS cute little theory about the lack of a need to ms.smiler Jul 2013 #29

Ms. Smiler, in a must-record state the original documents are usually done in MERS name. Yo_Mama Jul 2013 #32

Regardless of MERS business practices, PA statutes require that ALL ms.smiler Jul 2013 #33

Once the mortgage is done in MERS' name, there is no conveyance Yo_Mama Jul 2013 #38

I believe you misunderstood me Samantha Jul 2013 #37

Okay, but that is about assignments, not mortgages Yo_Mama Jul 2013 #31

I thought we were going to end realizing we had a terminology miss! Samantha Jul 2013 #35

MERS has never been the servicer Yo_Mama Jul 2013 #39

Yo Mama, you are correct, MERS is not a mortgage servicer. ms.smiler Jul 2013 #44

is it true you don't need to pay your mortgage if the lender ZRT2209 Jul 2013 #26

ZRT2209, Most of the time it is untrue Yo_Mama Jul 2013 #30

wow! thanks! ZRT2209 Jul 2013 #34

MERS probably happened after you left the industry -- or at least, it probably pnwmom Jul 2013 #41

Actually, to be more specific.. dixiegrrrrl Jul 2013 #9

Not if there was a MERS transfer, which is what happened to my friend's mortgage, twice! sabrina 1 Jul 2013 #20

No, that doesn't work for this anymore. pnwmom Jul 2013 #40

I admit, am not familiar with MER question everything Jul 2013 #43

Make them make the payments, then ... zbdent Jul 2013 #2

Contact a lawyer. Brigid Jul 2013 #7

The Bullshit goes Deep but not the prosecutions FreakinDJ Jul 2013 #8

kick. Liberal_in_LA Jul 2013 #12

We are a nation of clouded property Titles because of fraud, securitization and MERS. ms.smiler Jul 2013 #18

The banks did a lot of crooked stuff -- this isn't really one of them. DirkGently Jul 2013 #27

Yep. Another here that went from Countrywide to BofA and didn't know Lucinda Jul 2013 #36