Other • WHO’S YOUR LENDER?
Posted on 4th August 2012 by mary malone in Economy |Politics |Social Issues
MERS, mortgage fraud
The cronies have effectively used propaganda and lies to convince Americans that naive and greedy homeowners crashed the global credit markets in 2008.
They blamed the crash and current economic malaise on homeowners who bought too much house.
This couldn’t be further from the truth.
The fact of the matter is that the cronies crashed the global markets when they revealed that there are no mortgages to back the mortgage backed securities. They told Paulsen there was no there there. That’s why he panicked and tossed his cookies.
They could have pulled an Iceland, told the truth, arrested the bad actors and instituted real safeguards to restore the capital markets and consumer confidence.
But they chose to continue the lies and backstop the fraud on the taxpayer’s dime. The cronies covered up their partners’ crimes and orchestrated the bailout.
They feasted on our pension money and left us with the tab.
The bare naked truth is that tens of millions of mortgages were fake securitized. The cronies who fleeced Institutional Investors of $13 trillion clouded title on all the mortgages they originated and purportedly sold on the secondary market. They stole the pension money and now they’re stealing our houses.
The fake securitization scheme will make your head hurt and your heart break. So I’m not going to travel down that rabbit hole.
In the end, it all comes down to old fashioned title. Who holds the mortgage on your home? Will you have clear title at the end of the schedule? Do you have MERS in your chain of title? Was your loan ‘Assigned’ to another entity? If so, where is the evidence that substantiates those claims?
We have abandoned our efforts to convince the mighty and powerful to do the right thing. So we’re not going to waste any more of our time trying to convince members of Congress, Governors, state Attorneys General or the DOJ to arrest the bad actors on Wall Street and K Street and end the fraud.
We’re taking the fight to every local state courthouse and giving homeowners the tools to secure their homes and restore private property rights. This is a ground game and it is entirely winnable. It takes tenacity but once you learn to navigate the local state court system it’s entirely doable.
We’re working with community organizers on the left to educate all homeowners about the fraud, how it affects their mortgages and how to use the state courts systems to get real relief. We’re restoring the rule of law one mortgage at a time.
We’re getting results. Law firms are dropping foreclosure cases and homeowners who have been trying to get modifications are uncovering evidence that gives them real clout in negotiations.
It’s time we turn the tables and use the laws they have flouted as a weapon to win back our economic freedom.
We will win this war one house at a time.
This is a crime scene, so the first step is to gather evidence about your loan. All homeowners, regardless of your payment status need to take the following steps:
MERS look-up: https://www.mers-servicerid.org/sis/index.jsp
Fannie Mae look-up: http://www.fanniemae.com/loanlookup/
Freddie Mac look-up: https://ww3.freddiemac.com/corporate/
Capture the screen grabs, save and print. File the record in a binder or folder specifically for your mortgage documents.
Next step, send a Qualified Written Request Letter to your servicer. This is a way to gather evidence about your loan without going to court. The letter should be mailed to the CEO of your servicer. Contact customer service and ask for the name of the exec – could be the CEO – and the company address where the QWR letter should be sent. Be sure to send it certified mail, return receipt requested. Save the receipt and file it in your binder.
The QWR letter is a feature of RESPA, which was strengthened in the Dodd-Frank bill. The servicer is required to respond to the QWR letter in 5 business days with a written acknowledgement. Within the next 25 days they are required to deliver a written response that includes documents such as the promissory note, mortgage, closing documents, appraisal, title policy, assignments of mortgage.
If they do not answer within the 30 days or fail to provide you with evidence you’ve requested, the servicer will have to pay you $4,000 fine. You’ll have to go into Federal Court to file a complaint and get the judgement.
Statistics: Posted by yoda — Sat Aug 04, 2012 9:45 am
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