MERS letter to FHFA concerning the future of securitization. MERS admits, on page 4, that they do not "hold" a mortgage. It states, "MERS is not involved in the custodial handling of mortgage-related documents".
To break it down, MERS does not;
1) create the mortgage,
2) execute the mortgage,
3) countersign the mortgage,
4) have any express "nominee" authority, FROM THE LENDER, in the mortgage,
5) have the Lender countersign the mortgage, to pass the Statute of Frauds,
6) have any Power of Attorney from the Lender, to which it can execute contracts on their behalf,
7) have a banking license, anywhere, to which it can hold, assign, or transact in the bank's assets
8) record the mortgage,
9) maintain physical custody of the mortgage,
10) ever see the mortgage
Original Title
MERS admits in Dec 2012 letter to FHFA, that they do not "hold" any mortgage
MERS letter to FHFA concerning the future of securitization. MERS admits, on page 4, that they do not "hold" a mortgage. It states, "MERS is not involved in the custodial handling of mortgage-related documents".
To break it down, MERS does not;
1) create the mortgage,
2) execute the mortgage,
3) countersign the mortgage,
4) have any express "nominee" authority, FROM THE LENDER, in the mortgage,
5) have the Lender countersign the mortgage, to pass the Statute of Frauds,
6) have any Power of Attorney from the Lender, to which it can execute contracts on their behalf,
7) have a banking license, anywhere, to which it can hold, assign, or transact in the bank's assets
8) record the mortgage,
9) maintain physical custody of the mortgage,
10) ever see the mortgage
MERS letter to FHFA concerning the future of securitization. MERS admits, on page 4, that they do not "hold" a mortgage. It states, "MERS is not involved in the custodial handling of mortgage-related documents".
To break it down, MERS does not;
1) create the mortgage,
2) execute the mortgage,
3) countersign the mortgage,
4) have any express "nominee" authority, FROM THE LENDER, in the mortgage,
5) have the Lender countersign the mortgage, to pass the Statute of Frauds,
6) have any Power of Attorney from the Lender, to which it can execute contracts on their behalf,
7) have a banking license, anywhere, to which it can hold, assign, or transact in the bank's assets
8) record the mortgage,
9) maintain physical custody of the mortgage,
10) ever see the mortgage
GOT NEW CENTURY? WIN FOR HOMEOWNER! READ JUDGE SEABRIGHT'S DECISION HERE!! AND COMPLAINT ETC. no evidence that plaintiff was validly assigned the Mortgage and Note. Deutsche had no standing. Fraudulent Assignment.
Douglas D. Brunelle and Renee C. Brunelle v. Federal National Mortgage Association, Green Tree Servicing, Merscorp, Bank of America, Northwest Trustee Services