Finally A MERS Lawsuit With Some Cojones – MFI-Miami – ingham county sues mers For Unpaid Real Estate Transfer Taxes. Judicial states like Florida or New York require a mortgage to be recorded prior to filing a lis pendens. To say that MERS is a shadow registry service that was set up to avoid paying recording fees and hide the true identity of the note holder is all true.
November 2012 – Mortgage News and Rates – TODAY’S INTEREST RATES. November 26th, 2012. I hope everyone had a happy and safe Thanksgiving!! Interest rates rose last week with the Mortgage Backed Security market trading down (-53 bps). The stock market has been doing very well recently with optimism that a Fiscal Cliff deal will get done and positive signs from the economy.
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Foreclosure Fraud – MSNBC w/ Cenk & Matt Taibbi – YouTube – Cenk Uygur (host of The Young Turks) on MSNBC Live speaks with Matt Taibi of Rolling Stone about bank foreclosure fraud.
Articles Related To FRAUD in the Mortgage Industry – Last year, Mortgage Electronic Registration Systems Inc. (MERS) became the subject of lawsuits from counties across the nation as District Attorneys allege the company never owned the loans they were facilitating foreclosures for, and in most cases, judges agree, and their authority to facilitate has been denied in several counties.
MERS KISS: Keep It Simple Stupid. "SCAM" | FORECLOSURE FRAUD. – MERS = Mortgage Electronic Registration Inc.holds approximately 60 million American mortgages and is a Delaware corporation whose sole shareholder is Mers Corp. MersCorp and its specified members have agreed to include the MERS corporate name on any mortgage that was executed in conjunction with any mortgage loan made by any member of MersCorp.
MERS Is Dead – Mortgage Fraud and Foreclosure Resources – "This is a body blow," said consumer law attorney ira rheingold. "Ultimately the MERS business model cannot work and should not work and needs to be changed." Banks set up MERS in the 1990s to help speed the process of packaging loans into mortgage-backed bonds by easing the process of transferring mortgages from one party to another.
Matt Taibbi – Santelli on Predatory Lending: You can't. – Tavakoli has just deftly explained how a lot of the predatory practices worked – people with limited financial literacy were presented with long and complicated mortgage deals, and told they would have a fixed payment in perpetuity or a guaranteed re-finance, or were nailed by fraudulent appraisals.
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Mortgage Rates Back to Flat After Starting Higher – Mortgage Rates Back to Flat After Starting Higher. July 19, 2018 Mortgage rates had a scare today, as they began the day at their highest levels of the month (depending on the lender) only to fall.