NY's Schneiderman sues banks in foreclosure effort

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2. Here is a link to the Complaint:

http://www.scribd.com/doc/80391695/NYAG-Complaint

In short, MERS conduct, as well as Defendants Servicers’ use of the MERS System, have resulted in the filing of improper New York Foreclosure Proceedings, undermined the integrity of the judicial process, created confusion and uncertainty concerning property ownership interests, and potentially created clouds of title on properties throughout the state of New York.

Homeowners, as well as the general public and the courts, do not have access to the vast majority of information maintained on the MERS system, including records reflecting the sale of mortgage loans from one financial institution to another.

Oh, my attorney and I know the above well; MERS won’t disclose loan information even with a Subpoena.

Thus, as a result of the creation of MERS, one can no longer look to the public recording system as a reliable source for tracking the chain of title for a loan or for identifying the current beneficial owner of the mortgage.

Yes, privatized and secret land records – MERS, does a splendid job of concealing the chain of Title and loan ownership from homeowners and our courts. The banksters prefer to hide their records so they can eventually use our public land records to file fraudulent Assignments of Mortgage in favor of themselves.

Mortgage securitization and MERS has clouded the Titles to millions of properties in the U.S.