“Stay in Your Homes – You Are Going To Find They Don’t Have That “Paper” Up There On Wall Street”

Deadly Clear’s New Years’ Resolution for 2015 is to urge our readers to convince state legislatures to repeal their versions of UCC Article 3-301 to make it clear that in a mortgage loan foreclosure situation that a precise and convincing chain of endorsements is necessary before a foreclosure may proceed. The use of electronic transfer of the homeowners’ documents without the homeowners’ explicit consent has led to an abuse of copying notes and mortgages into a cyber data storage cloud of information readily available to the hundreds of potential thieves and their affiliates – without sufficient hacking protection allowing anyone the opportunity to break in and download documents, as recently noted by the banking industry invaded by hackers.

The use of UCC Article 3-301 by the banking industry and securitized trusts is a disingenuous manipulation of the intended law.

Deadly Clear

One of the outstanding interviews after President Obama announced there would be an investigative task force into the Wall Street banks’ mortgage fraud was aired on The Rachel Maddow Show on Jan. 28, 2012.  It is a MUST WATCH TV interview – click here.

New York Attorney General Eric Super-Schneiderman has been appointed by President 

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3 thoughts on ““Stay in Your Homes – You Are Going To Find They Don’t Have That “Paper” Up There On Wall Street”

  1. If you think that the banks aren’t lobbying to make the UCC codes even more in their favor – read this paper from 2001 – and they haven’t given up yet.

    http://www.law.fsu.edu/faculty/2003-2004workshops/zinnecker.pdf

    “IV. Amending U.C.C. Article 3
    Some courts may evince “skeptical attitudes toward general equitable principles” and hesitate to travel an analytical path through section 1- 103. [FN151] Therefore, Article 3 should be amended to expressly address *137 the enforcement of lost, destroyed, or stolen instruments by parties that never had possession. A committee is presently considering amendments to Article 3 (as well as Articles 4 and 4A). [FN152] A recent draft of proposed amendments reveals that Article 3 will be revised to confront the problem. As rewritten, section 3-309(a) will state:
    (a) A person not in possession of an instrument is entitled to enforce the instrument if (i) the person seeking to enforce the instrument (or a person from whom the person seeking to enforce the instrument has directly or indirectly acquired ownership of the instrument) was entitled to enforce it when loss of possession occurred, (ii) the loss of possession was not the result of a transfer by the person or a lawful seizure, and (iii) the person cannot reasonably obtain possession of the instrument because the instrument was destroyed, its whereabouts cannot be determined, or it is in the wrongful possession of an unknown person or a person that cannot be found or is not amenable to service of process. [FN153]”

    May the force be with us all in 2015! Contact your state legislators this week!!

  2. Good Luck on finding that video!!!!

    From: Deadly Clear To: stanathomesell@cox.net Sent: Wednesday, December 31, 2014 2:10 PM Subject: [New post] “Stay in Your Homes – You Are Going To Find They Don’t Have That “Paper” Up There On Wall Street”

    Deadly Clear posted: “Deadly Clear’s New Years’ Resolution for 2015 is to urge our readers to convince state legislatures to repeal their versions of UCC Article 3-301 to make it clear that in a mortgage loan situation that a clear and convincing chain of endorsements is neces”

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