LivingLies: “For some reason I have been getting more questions about MERS lately. My analogy has always been that MERS is like a holograph of an empty paper bag. So here are some basic factors for the checklist and analysis: MERS never signed any contract with any borrower.
- MERS never has any contractual or other legal relationship with investors (certificate holders) or Government Sponsored Entities (GSEs) like Fannie, Freddie or Sallie.
- MERS never signed any agreement or contract with most named “lenders.”
- MERS never signed any agreement or contract with respect to any specific loan transaction or acquisition.
- MERS was never the Payee on any note from a borrower.
- MERS never loaned any money in any residential loan transaction.
- MERS never paid any money for the acquisition of any residential loan agreement, debt, note or mortgage.
- MERS never handled any money arising from the origination of the loan.
- MERS never handled any money raising from administration of the loan.
- MERS never received a loan payment. …”
Source: Just to be clear, MERS is absolutely nothing.
“Homeowners come to loan examiners for one purpose: to find a way to get relief from a deal that was probably not viable when it was made and is certainly not viable now. They are usually “behind” in their payments. Their accounts have been declared delinquent and notices of default have been sent and received. Phone calls, letters and even statutory requests under RESPA and FDCPA are routinely ignored.
So the homeowner is asking you “who am I really dealing with here and what can I do to get through to the real people who own my debt?” You probably can never answer that question because the answer is more theoretical than actual. But your investigation can arm them with the information they need to undercut the case against them. And THAT is how homeowners win cases against false claimants making false claims.
The fact that all the documents in all the loans are fabricated, forged and robosigned as distractions from the real facts does little to advance the position of your client. But you are not an advocate. You are a fact finder.”
Source: Reference sheet for Forensic Examiners Seminar —“Lenders” that Died.