Vague allegations of assignment fraud and other systemic fraud within the foreclosure and court systems can be a bit hard to get one`s hands around. So attached here is an article by noted foreclosure defense attorney Lynn Szymoniak that explains in plain English the reasons for the pervasive fraud. Bottom line is the legal system of mortgage recording and ownership didn’t change to keep up with the orgy of securitization and trading that developed in the secondary mortgage market. MERS and the other servicers either didn’t get that at the time or they did, but just decided to keep charging ahead with a failed business model. Now they need the legal system to ignore the laws in order to compensate for their failed business model. Some questions provoked by the article….
What`s all this screaming about “assignment fraud”, and “foreclosure fraud” anyway and how does it affect me?
Is the fraud as pervasive as Weidner and other attorneys say it is?
How can such systemic fraud be perpetrated on the courts across the country?
Can it be fairly argued that judges across the country are complicit in the fraud if they are knowingly signing judgments that grant foreclosure in the face of growing awareness of such pervasive fraud?
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These manufactued ‘backdated’ assignments are like handing out concert tickets years after the gig, and saying you were there when the music played. It is just plain childish.
Worse, it is another sign of abberant behavior despoiling our record titles.
Speaking of abberant behavior here’s a doosy: MERS, who under it’s title of “Nominee” was given the duty to bring the foreclosure action, adopted, unilaterally, the following change of it’s “RULES”. It can be found at the MERS website, under “Rule 8, section 1″:
(c) In the State of Florida, the authority to conduct foreclosures in the name of MERS granted to a Member’s Certifying Officers under Paragraph Three of the
Member’s MERS Corporate Resolution is revoked. Effective June 1, 2006, the Member shall be
sanctioned $10,000.00 per violation for commencing a foreclosure in Florida in the name of
MERS.