Well that is comforting, they have managed to connect the second liens with the first liens, I have a hard time believing this 60% number. I stated before I have seen two instances whereby the second lien was not subordinate to the first. (I was not even looking, I stumbled on them). When I thought about this further I realized this was probably intentionly done to deceive the Investor. Since no one relys on the county recording systems and they can’t rely on MERS, this is just a free for all. Anyone wanting to foreclose on any home can just do it. Make up the assignments, reconveyances, satisfactions. The judge approves all the junk and the bank owns another house. The title companies are great about this too, they just accept all the junk.

I found FDL a few years ago and thought..what a strange name! I grew up being told that two subjects that were never to be discussed in a group were politics and religion. I have studied politics and religion for 30 plus years and since I couldn’t discuss it..what to do. I watched what happened in 2000 and went over the edge pretty much and wondered if I was the only one that noticed what just happened. Finally I got a reprieve when I got back online after a few years hiatus and realized that many people were discussing these forbidden subjects. I was home.

I don’t comment much on FDL because for the same reason that many mentioned, my thoughts are often stated much more eloquently. I learn a great deal by reading the diaries and comments and love that fact that all of the information we are getting now is instant. I get my news online and don’t watch MSM…haven’t for years…so I miss ‘the spin’ going on around alot of subjects.

I have known about the corruption in all areas of our government for years but had no one to talk to and it seemed to take forever for people to catch up. I finally just stopped commenting a couple of years ago and then the mortgage thing happened. I couldn’t wrap my mind around it, I really couldn’t. Being away from the business for ten years, everything had changed. The names, terms, the way I did my job, it had all changed. I am going thru the five stages of grief (Kubler Ross). I don’t know if I will make it to Acceptance and I know I have too to regain my sanity.

I don’t spend alot of time online and so feel that if I comment and someone says something back I will miss it and then they will think I am being rude. It seems easier to keep it to myself. I just don’t understand how the site works as well as I should. When the front page slips away, I am lost.

Anyway, sorry this is so long, but thought a little background may help to understand why I come in once and awhile ranting and than away I go…lol.

Thank you. I am just on a roll today. This subject makes my blood boil. The mortgage business is in my blood, it was my career and I am so disgusted. I was not a commissioned employee, making my money off the backs of innocent homebuyers. I did not forge documents and bait and switch loan programs. The file I am working on right now is so full of forgery and fraud it makes me sick. The fact that no one is being held accontable is a travesty. I just pray everyday the fraudsters get what they deserve. End rant.

And they were bad loans by design. The banks made them on purpose to satisfy the appetite of Investors but failed to explain to the Investors that it was all a game. The loans were designed to fail to enable the biggest land grab in our history. The homeowners and investors were used.

“County” my County.

And I am angry about is all the recording fees and excises taxes my little country didn’t get from the fraudsters. I talked years ago about states seceding from the Union and I still like that idea. Break it up, break it all up.

No, it is exactly the same subject and you know it.

And isn’t it ironic that Mr. Beckman from Citi now runs MERS.

I just can’t stop thinking there is a great divide between the 1%’s and getting wider everyday. I don’t think everyone is on the same page anymore. I sense desperation as the entire system is imploding. We are a microcosm of the macrocosm and when I look at what is happening around me I know that is what is happening to the whole. The 1% is not going to escape this even though they really believe they are exempt.

You are absolutely correct donbacon, I don’t understand why those bankers went running to the government for that big bailout in 2008.

I read about this a few days ago. I can’t believe the Investors are really going to fall for this. They invested in worthless MBS and now they are going to invest again and get ripped off. The money managers of the investment funds should all be fired.

I am working on a very interesting file. Two loans, first lien and heloc. The heloc is not a second lien as the deed of trust was not “subject to” the first lien. This is rather funny to me and I have looked another loan with the same thing. The blank with the “subject to” line was left blank. Whoever did the paperwork really messed up. So, what this means of course is that in ‘newspeak’ the heloc or second (if that be the case) could actually foreclose on it’s much smaller loan and leave the major or first lien holder out completely. I wonder how many loans have been closed like this in the rush to make these loans. Guess it was “TIME IS OF THE ESSENCE”! These second lien holders really need to start examining their docs since this all about grabbing land.

I just can’t get it out of my thick skull, the fact that the paperwork on all these loans are fraud. All this talk about doing this or that means nothing when no one knows who owns what.

I like the idea of the 80/20 split and if I am going to pretend that the servicers are really the owners of the Notes than this is a possible way to solve this. However, how many of the seconds are with a different (in oldspeak) ‘lender’. Who is going to do the refi and make the adjustments with two different entities.

Every loan is unique.

The title issue must be cleared up and I don’t know who is qualified at this point to do it. All the entities that destroyed our land records know this can’t be fixed. I believe the regulators are just as frustrated as the homeowners, they don’t know what to do. The servicers just want free houses and have nothing to loose and everything to gain from foreclosure with their fraudulent docs.

The only way out of this mess is a start over. Back to the beginning when the property was purchased and the Deed was recorded from the seller to buyer. Every document examined on every loan in the last decade. The banks want those 65 million houses in the MERS system and will do everything in the power to get them. The regulators can’t do anything at this point. There is no fix.

There will never again in our history be a ponzi scheme on the scale perpetrated by MERS.

I have sent copies of robo-signed docs to my Wa.St. ag, and numerous other parties. My own congressman has recorded docs that are robo-signed and not even notarized. I have not contacted my local registrar as they have a convenient stamp on every doc that states that are not responsible as to the truth on the doc being recorded..quite convenient. Meanwhile my daily paper if full of fraudclosures being filed by MERS in my non-judicial state. I hardly think the local sheriff knows or care what MERS is.

Further, no one from the servicer SIGNS their name. No one. All correspondence from them is unsigned. That fact alone is quite telling to me.

No, there is no charge for this info. They don’t give it to you anyway no matter the fines and broken regs.

Sixty five million loans are in the MERS system. Sixty five million property titles are affected. One Register in one County cares.

I gather from this post that the people that crafted the settlements really truly believe we are all a bunch of idiots. I am sorry you upset the a.g. They really want all this MERS stuff to go away. MERS is the reason this all happened. Loans are still being closed with MERS on the docs. Thousands being added daily and who exactly is going to fix this mess. And now they can used ‘destroyed Note affidavits’ to take homes. Since no one is willing to put a moratorium on fraudclosures perhaps we the people should put a moratorium on making housepayments.

“never making more than $750,000 a year”, this to me shows the guy was pretty honest if his income was based on commissions and was so small compared to the other ‘vice presidents’. I would gather he really was working in the best interest of his clients. Large producers generally make a lot of money on the backs of clients, (basing this on my experience in the mortgage industry).

well there is an old saying…if you can’t beat them, join them

we can all become robo-signers and notaries and attorneys and vice presidents and presidents, the sky is the limit….get out the white out and the scissors and begin to cut and paste…

just kidding of course