MERS is a corporate creature created to fulfill the objectives of the securitization marketplace. As the securitization model has unraveled, focus again shifts to the role of MERS in the debacle that is the American system of property ownership. The attached exhibits offer insight into the legal gymnastics required to perpetuate the MERS scheme which was developed, as Judge Walt Logan noted, without formal legislative approval. It really is astonishing that this entire construct was implemented and tacitly consented to without formal intervention…astonishing….
If you believe, like I do, that the whole mortgage securitization system is in disarray and that the disarray will produce collapse, you really want to go back and read these transcripts and orders. It would be very interesting to consider where we would all be today if we had all paid heed to the concerns raised by these judges way back when….long before all this mess was allowed to proliferate. Wouldn’t it be interesting to talk to these judges today to find out what they think of the current fix we’re in?
MERS v. Azize – Appellant’s Brief
MERS v. Cabrera (Gordon) – MERS is a sham
