I followed the link and here is an excerpt from a poster there named Mannfm11:
“MERS is a total screw up by the banks. It has no standing to convey title. contrary to what the banks allege. It has shown absolutely no standing of ownership in any paper it holds. There is no evidence that it ever paid a dime at closing to own the deed. It has shown no evidence it received any payment since the mortgage was in force. It does not at this time own any interest in the mortgages it holds, thus has no power of assignment to foreclose.”
It means that MERS, the phony system that claims to have title to deeds of mortgages across this country, in fact maybe most mortgages since 2000, does not have the legal standing to foreclose on a home.
They don’t have the right to foreclose, by their own admission. They claim to be only a “nominee” for the mortgage, and not the party to whom the debt is owed.
That’s the first requirement to being able to foreclose: Does the borrower owe YOU money?
In the case of MERS, no, the borrower does not owe them money. MERS isn’t the collecting agent of the payments, either, so there was no transfer of responsibility to perfect or collect collateral to MERS from the lender either.
MERS has said this, on the record, in multiple cases in multiple states now. Why they’d persist in trying to bring a foreclosure action in some states after admitting in other states that they have no power to do so baffles me.
I must admit that the thought of these huge banks suing each other for the next couple of decades has a certain charm. Too bad that lawyers by the busload will be enriched.