Saturday, December 11, 2010

Anatomy of Mortgage fraud

http://www.huffingtonpost.com/l-randall-wray/merss-smoking-gun-part-1-_b_794713.html


The question that no one is asking or answering is why aren't are elected officials doing anything to protect "us"?
Because they're all heavily invested in the perpetuation and cover up of the fraud.
Let not forget H.R. 3808.
Congresses blatant attempt to make the bank's nightmare just disappear.




The real mystery is why these trustees cannot produce the notes. I think we have finally found the smoking gun. An interested reader alerted me to MERS's instruction manual, "MERS Recommended Foreclosure Procedures -- State by State", originally written in 1999, updated in 2002 and available on MERS's website (accessed by clicking on: Recommended Foreclosure Procedures).

The first thing to note is the date. Folks, this strategy was formulated in 1999. The second thing to note is these documents demonstrate that failure to properly endorse the notes and transfer them to the REMIC trustee was not an occasional mistake, but rather was MERS's business model. As we will see, MERS planned from the get-go to defraud the counties, and the IRS, and the homeowners, and the buyers of the mortgage-backed securities.