Live video streaming starts Wednesday May 25, 2011 at 9:45 AM. Tune in right here to see it. Just click the photo below.
Bill Hultman of MERS will testify before the Banking and Financial Services Committee, of which Marty Knollenberg is the Chair.
Marty is my Representative and a long-time follower of FedUpUSA. The following is my letter to him:
I understand you are having a meeting with a representative from MERS tomorrow. I wanted to be there tomorrow, but I can’t because I must be at work. While I know this is rather a late message, I just wanted to urge you to take no BS from these guys. I know you’ve been a VERY long time follower of FedUpUSA and have therefore, gotten ALL of the truth about MERS sent to you pretty much on a weekly basis for the past three years – but I wanted to personally urge you to get some hard questions answered.
1. I’m sure you’re familiar with the recent Michigan Court of Appeals ruling that states (among other things) that MERS is in breach of MCL 600.3204(1)(d). Further, the Appellate Court stated that MERS never had standing to foreclose on anyone because they never had the notes to begin with. Which then begs the question: If they never had the notes, then how can they ‘convey’ those notes to anyone else? This is how the majority foreclosures in Michigan are being done and how MERS is going to circumvent the Appellate Court in the future. They’re going to ‘create’ documentation that states they have transferred their rights to foreclose to the servicer.
2. MERS sells ‘corporate kits’ for $25.00. For $25.00 anyone can be any officer of any banking entity they’d like. I could buy a $25.00 MERS corporate kit and become CEO of Bank of America for signing purposes tomorrow. Exactly how is this remotely in compliance with contract law that requires parties act in ‘good faith’? How could one not come to the conclusion that MERS was intentionally circumventing contract law? (And I’m not even going to mention the outright forged documents.)
3. MERS is an entity entirely owned by the banks for which they ‘transferred’ property. Their corporation is nothing but a shell, their ‘officers’ being various officers of those banks. They hold no assets and have no employees. Their sales pitch to smaller mortgage lenders specifically stated that their purpose was to circumvent taxing authorities and recording fees. Ask them exactly how anyone is supposed to believe this was legal or to believe that their very existence was not based on the idea of defrauding municipalities. Why should state government be amenable to allowing fraud to be perpetrated upon its municipalities?
This was no ‘paperwork snafu’; this was intentional fraud from MERS’s very inception. It is no small consideration that MERS was created by the big mortgage servicers for THEIR purposes. While MERS may have done the dirty work, they were created specifically for that purpose by the big banks which are now being entirely propped up by the US taxpayer.
Marty: stop the fraud. Protect the citizens of Michigan. This is precisely why I felt it was so important to educate you with all the information I have provided over the past three years. You are now in a position to truly do something about the fraud and corruption. Don’t let these guys walk without asking these hard questions. Then, let’s work on getting some legislation, some HARD CORE legislation, in place to protect property rights in Michigan. No entity should EVER be able to initiate foreclosure proceedings without first proving their right to do so with original documentation, with wet-ink signatures, and without fake signatures from phony corporate officers.
Stephanie S. Jasky