70 Million Property Titles Are Fraud Is Yours One Of Them?
Do you have a MIN (MERS Identification number) on your title?
Mers titles are fake. This is a must need to know information for anyone who is looking at buying a home or will be closing on one anytime soon.
The following video below is an in depth interview with Dave Krieger the author of Clouded Titles.
When I was lecturing at the V. G. Young Institute’s annual Texas Clerks School in January, an interesting question was posed to me by one of the clerks (after having delivered a scathing presentation entitled MERS 101) regarding title insurance coverage.
“How is it that title companies can issue insurance policies when there are suspect issues with MERS and clouds on title?” she asked.
A great question, surprisingly. More surprisingly was my answer: “The title companies are merely ‘writing around’ the defects in the chain of title.”
I could see jaws dropping around the room. I continued with my answer:
“In virtually every title commitment issued there exists a ‘Schedule B: Exclusions’; under most every set of exclusions (generally under the 2nd or 3rd sentence), a title company can refuse coverage if the issue creating the problem isn’t recorded in the public records.”
If you do have a MIN number (MERS identification Number) on your title you can check who the servicer is if you have your social security number on MERS website here.
The spin cycles are in motion and we haven’t even done the laundry yet. Reports are out that not only did Bank of America post third-quarter losses of $7.65-billion; the soothsayers are countering with “exposure scenarios”, showing $50-billion worth of risk (representing only 3% of the $2.1-trillion total) as good enough reason for Bank of America to seek Chapter 11 protection. It also appears that in this election season, a bailout or some other government “deal” is highly unlikely and would certainly exacerbate Bank of America’s problems.
I thought I was dreaming until I saw Chris Whalen’s posting and thought … gee, Bank of America certainly does have a liquidity problem to be forced to start up foreclosures again. One would certainly have to ask why the Obama administration just now announced intentions to launch a criminal investigation into all of this mess. Does someone in DC have a conscience? Or is this just another “CYA” as a cave to public pressure? With these kinds of pictures, the day traders would be “shorting” Bank of America stock and making a killing doing it.
One would have to wonder about the liquidity factor with all of this missing paperwork and the investors and insurance companies that certainly will be lining up to file fraud suits against the banking giant will certainly force some sort of decision. For BofA, it is significant. General Motors went into Chapter 11 after all and within three months they emerged stronger than ever. But then again, GM wasn’t proprietarily trading residential mortgage-backed securities on Wall Street either. This is a different animal.
My take? Bank of America’s decision to absorb Countrywide and Merrill-Lynch probably wasn’t one of their smartest moves. The paperwork issue that forced the moratorium of some of these foreclosures has forced Bank of America to go after over 100,000 more homes … and then comes the fun part. (more…)
These days, that “instrument or document evidencing the obligations secured by the deed of trust” is a promissory note, a borrower IOU. But MERS executives have said consistently in depositions that MERS has nothing to do with the borrower notes. So under Washington law, it can’t be the beneficiary of the deed of trust and hence can’t forecloseᔥ Washington Supreme Court Issues MERS Smackdown « naked …
The Shining Light: FORECLOSURE MERS TITLES ARE FRAUD State court r… http://t.co/wFNN92gG
— bobthedemopa (Bob) (@bobthedemopa) Tue Sep 18 2012
Here is the actual white papers on MERS titles: MERS:The Unreported Effects Of Lost Chain Of Title on Real Property Owners.
The highest court in the state of Washington recently ruled that a company that has foreclosed on millions of mortgages nationwide can be sued for fraud, a decision that could cause a new round of trouble for the nation’s banks. The ruling is one of the first to allow consumers to seek damages from Mortgage Electronic Registration Systems, a company set up by the nation’s major banks, if they can prove they were harmed.ᔥ State court ruling deals blow to US bank mortgage system – OpEdNews