This weekend, attorney generals from across the country are being blackmailed, extorted, pressured into signing onto off of the settlements with the banksters.
Keep in mind folks, that we’re not talking about teensy weensy violations of itty bitty parts of the law that don’t matter like jaywalking. These are crime scenes….
But while they sit on their secret phone call hammering out the details on how Americans are gonna get hosed once again, let’s just review some of the details that are part of existing lawsuits:
(Now there’s a real gem down there at the bottom. Let’s see who can pick it out.)
The lawsuit specifically charges that the defendants have engaged in the following fraudulent and deceptive practices:
- MERS has filed over 13,000 foreclosure actions against New York homeowners listing itself as the plaintiff, but in many instances, MERS lacked the legal authority to foreclose and did not own or hold the promissory note, despite saying otherwise in court submissions.
- MERS certifying officers, including employees and agents of JPMorgan Chase, Bank of America, and Wells Fargo, have repeatedly executed and submitted in court legal documents purporting to assign the mortgage and/or note to the foreclosing party. These documents contain numerous defects, including affirmative misrepresentations of fact, which render them false, deceptive, and/or invalid. These assignments were often automatically generated and ” robosigned” by individuals who did not review the underlying property ownership records, confirm the documents’ accuracy, or even read the documents. These false and defective assignments often masked gaps in the chain of title and the foreclosing party’s inability to establish its authority to foreclose, and as a result have misled homeowners and the courts.
- MERS’ indiscriminate use of non-employee ” certifying officers” to execute vital legal documents has confused, misled, and deceived homeowners and the courts and made it difficult to ascertain whether a party actually has the right to foreclose. MERS certifying officers have regularly executed and submitted in court mortgage assignments and other legal documents on behalf of MERS without disclosing that they are not MERS employees, but instead are employed by other entities, such as the mortgage servicer filing the case or its counsel. The signature line just indicates that the individual is an ” Assistant Secretary,” ” Vice President,” or other officer of MERS. Indeed, these documents often purport to assign the mortgage to the certifying officer’s own employer. Moreover, as a result of the defendants’ failure to track the designation of certifying officers and the scope of their authority to act, individuals have executed legal documents on behalf of MERS, such as mortgage assignments and loan modifications, when they were either not designated as a MERS certifying officer at the time or were not authorized to execute documents on behalf of MERS with respect to the subject loan.
- MERS and its members have deceived and misled borrowers about the importance and ramifications of MERS’ role with respect to their loan by providing inadequate disclosures.
- The MERS System is riddled with inaccuracies which make it difficult to verify the chain of title for a loan or the current note-holder, and creates confusion among stakeholders who rely on the information. In addition, as a result of these inaccuracies, MERS has filed mortgage satisfactions against the wrong property.
This piece here is the GEM…..let’s see how many people pick up on how big this is.
THE QUESTION NOW IS, HOW CAN ATTORNEY GENERALS SIGN ONTO DEALS WITH THE DEVILS?