This is brilliant - rather than regulate or bailout MERS, these three are pushing to cut them off. If lenders want to sell loans to Fannie/Freddie/FHA, they'll have to find another way to track them other than MERS, and pay recording fees every time they sell or...
Next week, we're going to make predictions for the new year, and the MERS/robo-signing/securitizations could play a role in the 2011 market - and your predictions? Here's the link to the latest article about BofA's woes; and an excerpt: Richard Bove, analyst at...
Hat tip to daytrip and geotpf for sending this along, from the WSJ: OKEECHOBEE COUNTY, Fla.—Patsy Campbell could tell you a thing or two about fighting foreclosure. She's been fighting hers for 25 years. The 71-year-old retired insurance saleswoman has been living in...
You know by now that the banking lobbyists must be working overtime trying to convince Congress to sweep the MERS debacle under the rug. This video doesn't have the answers, but at least it brings the issues to the forefront. The best is a quote by Thomas Jefferson...
This is the first case that I've seen of a deed-in-lieu-of-foreclosure. Hope we see more of them, maybe they are the answer to the robo-MERS-gate problems. The banks could do cash-for-deed-in-lieus, instead of spending big money on attorneys?
Rolling Stone Magazine reporter Matt Taibbi has a detailed story about the Florida foreclosures being tried in front of retired judges. Click here for full story - an excerpt: After Soud's outburst, Cooper quietly leaves the court. Once out of sight of the judge, she...
The MERS debacle will go on for years, and be full of legal wranglings along the way. The biggest issue? The notes and trust deed have been physically separated by MERS, and according to the U.S. Supreme Court ruling in 1872, a mortgage has no separate existence...
Are the title companies in trouble for insuring robo-signed REO sales, or MERS-related transactions? Kingside said, "Not if the sellers are using grant deeds". Here's the definition: grant deed n. the document which transfers title to real property or a real...
While the MERS debacle has many borrowers thinking that they may be getting a free house soon, the biggest threat to the banks/servicers comes from the investors who purchased the securities on Wall Street. Thanks to Kingside, here's a link to a big class-action suit...
On August 17, 2010, attorney Susan Chana Lask filed a Federal Class Action Complaint on behalf of tens of thousands of New York State homeowners who lost their homes to an alleged foreclosure fraud orchestrated for years by a New York "foreclosure mill" attorney and...
