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Mortgage registrar cannot transfer mortgages-court
Reuters ^ | 2/14/11 | Jonathan Stempel

Posted on 02/14/2011 4:47:02 PM PST by Kartographer

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To: Rebelbase

still does not prove who owns the note now. Chase could just be the servicing agent and not the final note owner.


51 posted on 02/15/2011 9:28:38 AM PST by longtermmemmory (VOTE! http://www.senate.gov and http://www.house.gov)
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To: Kartographer
is this like the HSBC mortgage pool and the Mortgage Electronic Registration System?

.

52 posted on 02/15/2011 9:35:46 AM PST by Elle Bee
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To: longtermmemmory

here is a good example of a bank screw up.

A friend went bankrupt after losing his job and unable to find a new one that payed enough to survive on. His bank(chase) carried the mortgage on his house and he has been paying on it for about 5 years. Chase never recorded the deed , the Federal judge dropped the mortgage as a NON-secured dept. My friend does not have to pay the mortgage.


53 posted on 02/15/2011 9:45:58 AM PST by omegadawn (qualified)
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To: Elle Bee

It’s MERS


54 posted on 02/15/2011 10:05:54 AM PST by Kartographer (".. we mutually pledge to each other our lives, our fortunes, and our sacred honor.")
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To: bruinbirdman

In several of these cases now, in three different states, judges have been abundantly clear at the outset of the case what the bankers need to do to prevail.

And the bankers’ lawyers just seem to ignore the instructions from the bench.

Which tells me that either a) the lawyers the bankers are retaining are utterly incompetent, or b) (since this has happened with multiple law firms, in multiple courts, in multiple states) the banks simply do not have the docs.

The single worst thing I fear the GOP doing now is carrying legislation to fix this for the bankers, rather than letting the rule of law prevail and force the bankers to face the music.

But I’m guessing the GOP will stupidly do the bankers’ bidding now. I’ll bet that even now, some clown from the banks’ lobby is passing around a proposal in legislative language on how to fix this for the banks, and the idiots in the GOP are going along with this crap, based simply on the notion that the GOP should be seen as “pro-business.” Even if the business is illegal, has been breaking the law and will be breaking the law at the state level if the bankers prevail.


55 posted on 02/15/2011 10:45:07 AM PST by NVDave
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To: Nuc 1.1

Heck, the people/parties who buy houses AFTER a foreclosure are really not going to like this either.

And those are the people who are necessary to satisfy to get us out of the housing slump. Who wants to buy a property that was foreclosed if the foreclosure was enacted as a fraud upon the court, if the title is not quiet, etc?


56 posted on 02/15/2011 10:47:22 AM PST by NVDave
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To: WalterSobchak2012

“We agreed to stand down for sixty days to give the genuine agent (who has been nothing but helpful) an opportunity to settle it for themselves. But yes, that is the next step. A title action could take four to six months - so if they can sort it out amongst themselves that is fine with me given the retainers lawyers were demanding.’

Makes sense, but you’re right, this is a nightmare.


57 posted on 02/15/2011 10:48:06 AM PST by catnipman
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To: Kartographer
A very good question, one I have no answer for. Surprisingly though there are may FReepers who believe that the banks should be above the law and that fraud, perjury and forgery should be accepted as normal everyday business practice.

You have made at least two posts misrepresenting FR posters. I have NEVER seen a post that says what you say "many" FReepers post. Please stay with the truth.

58 posted on 02/15/2011 10:52:30 AM PST by SeeSac
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To: SeeSac; Chunga85; Lurker; FromLori; azhenfud; Wolfie; UCFRoadWarrior; servantoftheservant; blam; ...

Maybe I should have used ‘many’, but when one has been flamed and personally attacked over this issue as much as I have then it sure seems like ‘many’. There also the chance you have seen all the FR posting on this subject.

What say you gang? Chunga85; Lurker; FromLori; azhenfud; Wolfie; UCFRoadWarrior; servantoftheservant; blam; Oberon


59 posted on 02/15/2011 11:03:04 AM PST by Kartographer (".. we mutually pledge to each other our lives, our fortunes, and our sacred honor.")
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To: Kartographer
Maybe I should have used ‘many’, but when one has been flamed and personally attacked over this issue as much as I have then it sure seems like ‘many’. There also the chance you have seen all the FR posting on this subject.

Maybe if you didn't misrepresent others posts and didn't use words like 'bankster' and stuck with the facts you wouldn't be flamed?

60 posted on 02/15/2011 11:06:20 AM PST by SeeSac
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To: Kartographer; SeeSac; org.whodat

org.whodat certainly seems to fall into the category of those who claim that there are no problems whatsoever with mortgage document processing with any bank.


61 posted on 02/15/2011 11:06:59 AM PST by DuncanWaring (The Lord uses the good ones; the bad ones use the Lord.)
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Comment #62 Removed by Moderator

To: Kartographer; SeeSac

Yeah... Kart’s been called everything but a pastrami sandwich over this issue. I’ve witnessed other Freepers calling him a Socialist, accusing him of thinking that everyone should get a free house, and telling him to leave FR.


63 posted on 02/15/2011 11:07:56 AM PST by Oberon (Big Brutha Be Watchin'.)
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To: SeeSac

“bankster” - contraction of “banker” and “gangster” - of which there are many out there.


64 posted on 02/15/2011 11:08:38 AM PST by DuncanWaring (The Lord uses the good ones; the bad ones use the Lord.)
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To: omegadawn
My friend does not have to pay the mortgage.

...because of the bankruptcy.

If he hadn't gone bankrupt, he would still owe the money... it would just be unsecured debt rather than a mortgage secured by the property.

65 posted on 02/15/2011 11:10:16 AM PST by Oberon (Big Brutha Be Watchin'.)
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To: SeeSac

The term ‘banksters’ is in common use at any number of sites such as Minyanville.com, BusinessInsider, Martket-Ticker. What term would you use for people who are committing fraud, perjury and forgery on a scale that would have you or I up on racketeering charges?


66 posted on 02/15/2011 11:13:44 AM PST by Kartographer (".. we mutually pledge to each other our lives, our fortunes, and our sacred honor.")
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To: Kartographer
What term would you use for people who are committing fraud, perjury and forgery on a scale that would have you or I up on racketeering charges?

"Criminal" works for me.

67 posted on 02/15/2011 11:35:13 AM PST by Lurker (The avalanche has begun. The pebbles no longer have a vote.)
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To: LomanBill

I prefer Crocodile Gangland to Dancing With the Stars.


68 posted on 02/15/2011 11:35:56 AM PST by Sawdring
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To: Kartographer; Chunga85; Lurker; FromLori; Wolfie; UCFRoadWarrior; servantoftheservant; blam; ...

I’ve seen the posts, read, and endured a minute portion of the name calling, and it’s been quite more than just a few. Rather than the rule of law prevail, there are some who’ve been so adamant that “deadbeats not get a free house” that the magnitude of the damage done to property law escapes them. Some have chosen to remain ignorant of the grievances even when case incidents, law citations, and court rulings have been presented.

To me - I’d rather see every home be given free and clear and the TBTF banksters insolvent than to see the federal government “have” to step in and over ride states’ laws or make law to cover the crimes in an effort to “straighten the mess out” caused by greedy banksters, because when/if ever they do, States’ will have forever lost their basic property rights.

The federal government is too big already and is failing. With entitlements and interest on current debt choking taxpayers to death while businesses move jobs out of the US because taxes are too high, if America’s “elite” leaders aren’t careful, this financial and economic crisis and then the destruction of law to coddle the elite could be a match in the tender box which finally sets the US on the same pathway of revolt as Tunisia, Egypt, and the other tilting dominoes.

Just say, “NO!”, to bankster amnesty.


69 posted on 02/15/2011 12:04:41 PM PST by azhenfud (The government is not best which secures life and property-there is a more valuable thing-manhood.)
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To: SeeSac; Kartographer
"...use words like 'bankster' and stuck with the facts..."

Really? and what are the facts, according to you, that Kart has deviated from concerning those banksters?

70 posted on 02/15/2011 12:11:29 PM PST by azhenfud (The government is not best which secures life and property-there is a more valuable thing-manhood.)
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To: Kartographer
isn't the HSBC pool another of the same?

I think this is going to spread

.

71 posted on 02/15/2011 12:20:02 PM PST by Elle Bee
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To: azhenfud
Really? and what are the facts, according to you, that Kart has deviated from concerning those banksters?

I was not addressing what he deviated from, I was discussing what he had deviated to.

72 posted on 02/15/2011 12:22:08 PM PST by SeeSac
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To: Elle Bee; Chunga85; Lurker; FromLori; azhenfud; Wolfie; UCFRoadWarrior; servantoftheservant; ...

I am not familar with HSBC. Gang, anyone?


73 posted on 02/15/2011 12:22:24 PM PST by Kartographer (".. we mutually pledge to each other our lives, our fortunes, and our sacred honor.")
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To: omegadawn
My friend does not have to pay the mortgage.

Please look up the definition of 'mortgage'.

74 posted on 02/15/2011 12:23:48 PM PST by SeeSac
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To: SeeSac

The friend in question went through a bankruptcy proceeding.


75 posted on 02/15/2011 12:29:10 PM PST by Oberon (Big Brutha Be Watchin'.)
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To: Oberon
The friend in question went through a bankruptcy proceeding.

I wasn't questioning that. What I was referring to is that one doesn't repay a mortgage, one repays the note. The mortgage is filed to enable the lender to take action against the house in case of default.

76 posted on 02/15/2011 12:37:13 PM PST by SeeSac
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To: Kartographer
HSBC Bank.
77 posted on 02/15/2011 12:37:13 PM PST by Oberon (Big Brutha Be Watchin'.)
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To: SeeSac
Oh, I see.

"Paying the mortgage," while not technically precise, is a common colloquial usage for meeting one's financial obligation with regard to a housing purchase. Did you not understand what she meant?

78 posted on 02/15/2011 12:43:26 PM PST by Oberon (Big Brutha Be Watchin'.)
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To: Oberon
"Paying the mortgage," while not technically precise, is a common colloquial usage for meeting one's financial obligation with regard to a housing purchase. Did you not understand what she meant?

I understood what was meant. My point is that there is so much confusion over these issues, we should be using the correct terms in order to reduce the amount of confusion. There have been MANY posts and MANY news articles that have added to the confusion by saying this and that when they should have been saying that and this.

79 posted on 02/15/2011 12:47:50 PM PST by SeeSac
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To: Kartographer
HSBC Bank National Association is filing in Monroe County Florida as trustee to a pooling and servicing agreement for several banks and mortgage companies which have gone under.

HSBC has no original notes and the Courts down here (to their credit) are balking

We've also found that none of the mortgage modifications (the few that were done) were ever filed with the county clerk (for the lender to avoid paying the taxes and fees after adjusting the rate, term and amount) and the whole thing is just a mess

I really have no sympathy for these bankers

For the amounts the taxpayer ponied up for TARP they could have paid off every mortgage in the country and then some .... instead they gave our cash to banks who bought up these notes from distressed banks for pennies on the dollar and are trying to windfall through forclosure without the original notes

It's not pretty

.

80 posted on 02/15/2011 12:53:55 PM PST by Elle Bee
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To: RushingWater; All
I have a loan with Chase and called them for the MERS number and they said they didn’t use that. Anybody else confirm that?

Here's the link to the "new" and "improved" MERS look-up tool.

MERS® Servicer Identification System

We've been ripped off and must demand immediate return of all stolen money and private property. Our entire economy is a fraudulent shell-game.

81 posted on 02/15/2011 12:58:07 PM PST by Chunga85 ("Foreclosure Fraud", TARP, "Mortgage Crisis", Bailout)
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To: rarestia

If your mortgage was fed into this system than legally speaking no (if this ruling holds).

You have been paying people who don’t have the right to be paid because they can’t claim the house. Therefore even if you pay them the full amount they can’t give the house to you because they never owned it.

IF, the people you originally got the mortgage kept i or transferred it but did so properly then after paying them all the money you get to own the house. You should check the records at your county to see if the people you are paying money to really own the house you are paying them for.


82 posted on 02/15/2011 1:17:28 PM PST by Eyes Unclouded ("The word bipartisan means some larger-than-usual deception is being carried out." -George Carlin)
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To: Kartographer

Oh gosh yes I’ve seen people say terrible things and see them arguing in favor of the banks even when an article clearly shows the fraud on the part of the banks. They simply see a couple of sentences from the article and without reading it in full start in. They continue even after you specifically point out the facts in the rest of the article.

I call them Bankster’s from time to time free speech and all that I think we can call them what we like. And speaking of Bankster’s look at JP Morgan/Chase apologizing for over charging our service members like they did.

JPMorgan Apologizes to Veterans for Overcharges

http://www.cnbc.com/id/41601271


83 posted on 02/15/2011 4:40:53 PM PST by FromLori (FromLori">)
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To: DuncanWaring

Don’t ping me to the half ass spin news sites, go read the real case, the mortgage was foreclosed on and the dead beats showed the street. The judge actually said the old rules apply and nothing beats the mortgage of record. Pay up get out, end of whining, there is not going to be any free mortgage giveaways.


84 posted on 02/15/2011 4:48:57 PM PST by org.whodat
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To: org.whodat

Yep, you’re right ... the old rules apply, and nothing beats the mortgage of record; nobody argues that.

Except for many banks; they don’t believe that.


85 posted on 02/15/2011 4:51:48 PM PST by DuncanWaring (The Lord uses the good ones; the bad ones use the Lord.)
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To: Kartographer

+


86 posted on 02/15/2011 5:16:09 PM PST by Liberty Valance (Keep a simple manner for a happy life :o)
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To: SeeSac

Ping.


87 posted on 02/15/2011 5:41:17 PM PST by DuncanWaring (The Lord uses the good ones; the bad ones use the Lord.)
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To: Kartographer

Fortunately I already own a clear title so all I have to do is pay my rent (property tax) to the county. I wonder though why some on FR have the attitude you mention as if there are only “deadbeats” who don’t want to pay and they shouldn’t wonder about what happens after thirty years of payments when the original papers cannot be produced when needed to clear their title.


88 posted on 02/16/2011 3:58:44 AM PST by RipSawyer (Trying to reason with a liberal is like teaching algebra to a tomcat.)
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To: mad_as_he$$
BTW The “you are a deadbeat” crowd here on FR needs to understand the differences between moral and legal behavior.

The financial wizards who perpetrated the entire mortgage mess sure did, and profited greatly from it. What's good for the banksters is good for the rest of us.

89 posted on 02/16/2011 6:03:24 AM PST by Wolfie
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To: Eyes Unclouded
You should check the records at your county to see if the people you are paying money to really own the house you are paying them for.

The same "you are a deadbeat" crowd will then tell you how stupid you were for paying somebody who didn't really own the mortgage. It's just "whistling past the graveyard" behavior. Frankly, they can screw off.

90 posted on 02/16/2011 6:08:31 AM PST by Wolfie
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To: Wolfie
Do not misunderstand - I am not excusing their behavior. They ruined us while the SEC was watching internet porn.
91 posted on 02/16/2011 6:22:20 AM PST by mad_as_he$$ ( "Hokahey, today is a good day to die!" Crazy Horse, Lakota Sioux)
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To: RushingWater
Can't help with that FReeper. It is sad but I don't believe much of what government, big business, and pretty much what ever any dim says any more. I would bet they are in MERS up to their arm pits.
92 posted on 02/19/2011 9:08:52 AM PST by Nuc 1.1 (Liberals aren't Patriots. Remember 1789!)
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