Policy Changes aka eNotes are Here! New Paragraph 11 in Promissory Notes.

We’ve discussed UETA and eSign and the significance of explicit consent…in most cases pre-2008…there isn’t any. Here is a Indiana case that is riveting: Good v. Wells Fargo. Read it HERE.

In this case, Bryan Good stated that in this 2008 transaction there were apparently 2 notes. Wells Fargo asserts that Good signed an eNote with a new (policy change) paragraph 11 – and that is still not enough.

Yes – go get your promissory notes and look for paragraph 11. You probably won’t see it if your note pre-dates 2008.

Is the Promissory Note Even Enforceable?

When all is said and done the courts come back to the main premise, “Did you pay?”. That is so injudicious on so many levels. The deeper we get into securitization and contract law we soon realize (after dissection) there is one very basic question being ignored – “Is the Promissory Note even enforceable?”

Sheila Bair’s (former FDIC Chairperson) new book, Bull By the Horns, addresses issues that must be taken into careful consideration when considering the validity of foreclosures – and she does it with impressive candor. Sheila separates the MBS into 2 categories:

THE HISTORY AND DEATH OF MORTGAGE ELECTRONIC REGISTRATION SYSTEMS, INC. ACCORDING TO THE USPTO

For nearly 20 years, in particular, the last 10 years, the courts, foreclosure defense attorneys, homeowners and politicians have been bamboozled by the blur and use of “MERS” – the service mark for the MERS® eRegistry system owned and operated now by MERSCORP Holdings, Inc.

“MERS” first became the acronym, an abbreviation for the first Mortgage Electronic Registration Systems, Inc., in 1995. This corporation was registered in Delaware on October 16, 1995. In 1997 Mortgage Electronic Registration Systems, Inc. registered “MERS” as the service mark with the United States Patent and Trademark Office (USPTO) for its mortgage loan eRegistry system. This original MERS corporation has long since been eaten up by other entities created by its executives and board of directors to replace it over the past 18 years. Bottom-line: The original Mortgage Electronic Registration Systems, Inc. is dead and it died in 1998… RIP

TBTF HAS MET ITS WATERLOO

The recent lawsuits filed in the SUPREME COURT OF THE STATE OF NEW YORK,  COUNTY OF NEW YORK are the beginning of a long process unraveling the frauds created by a generation of “Younger Boomers” and “Now Generation” Wall Street bankster executives that expected immediate gratification.

These smart-asses didn’t take the time to ensure all the pieces to the puzzle fit before they began their filthy rich land grab operation, causing a lot of damage and red ink to America and the rest of the world. Their failures are your insurance to defeat foreclosure once you understand what is missing.

Wall Street’s Mortgage Fraud Scandal. “You can have a house that is fully paid for and still end up in foreclosure”

Wall Street’s Mortgage Fraud Scandal with David Kreiger

In a brilliant interview on Alex Jones’ Infowars, David Kreiger dissects a portion of the foreclosure fraud committed by the banks and their pretender lenders which David’s book, “Clouded Titles” (new updated edition with case cites) exposes.

The mortgage scandal created by banker endorsed deregulation and MERS (Mortgage Electronic Registration Systems) is a fraud that is wide spread and millions of Americans have been affected. What is most frightening is that many of them don’t even know it yet.

“You can have a house that is fully paid for and still end up in foreclosure,” Alex Jones explains and discusses with David Kreiger in detail. A must watch the video below.

Securitization is NOT a “Traditional Mortgage Loan” Operation

Securitization is a relatively new innovation given the operation of the traditional mortgage loan industry over the last 70 years.

What is routinely overlooked is the fact that this entire new process and product development has been patented in the USTPO extensively by the banks. The loans that were sold at the turn of the century through present day are NOT traditional mortgage loans. This fact is further complicated because there was no meeting of the minds when the contracts were formed. Additionally, there are multiple defects that should literally void documents or cause defective products to be recalled.

Mortgage Crisis 101 by Prof. John Campbell

While the foreclosure crisis might sound to some like duck soup, Professor John E. Campbell from the University of Denver Sturm College of Law has taken the time to dissect the issues in his Mortgage Crisis in a Nutshell video explaining precisely what has happened to homeowners and searching for the reasons why.

Prof. Campbell explains what has happened in the traditional sense and how Mortgage Electronic Registration Systems, Inc. participated in part of the scheme. He also discusses how and why the homeowners were not intentionally at fault.

In this one-hour video, Attorney John E. Campbell explains the main aspects of the mortgage crisis that has devastated the U.S. housing market and the economy. Watch the video and then let’s discuss securitization in a little more detail below.

MERS – TOO MANY DEAD DUCKS

While fishing for bank-related patents this gem surfaced and jumped into the net.  At first it wasn’t apparent it was a keeper because the UETA issue has not been in the forefront of foreclosure defense. However, taking the time to dissect the document it became apparent that, as some of us have suspected, there is a mandatory methodology from the origination of the mortgage loan on a trip to the securitized trust that includes the EXPLICIT CONSENT of the obligor (homeowner).

Yup… It appears the road to securitization needs an electronic record that the “issuer” aka the “obligor” has explicitly consented to at the time of origination. Yeah, ya think maybe that was the real intention of MERS aka Mortgage Electronic Registration Systems, Inc.? But it looks like it didn’t have all its ducks in a row. This is a lot to digest – but you need to know and understand this information in order to plead your case correctly before the courts.