Posted on 10/13/2010 4:30:20 PM PDT by Kartographer
It is the company created and owned by all of the big banks to process title to property in the U.S. Approximately 60% of the nation’s residential mortgages are recorded in the name of MERS.
MERS is a shell corporation with no employees, but thousands of officers.
As the treasurer and secretary of MERS admitted in a deposition:
Q Does MERS have any salaried employees? A No. Q Does MERS have any employees? A Did they ever have any? I couldn’t hear you. Q Does MERS have any employees currently? A No. Q In the last five years has MERS had any employees? A No. Q To whom do the officers of MERS report? A The Board of Directors.
(Excerpt) Read more at washingtonsblog.com ...
If you are in the business, they don’t think it is. I doubt we are going to find any judges who think it is either.
But, isn’t that simple TAX EVASION???
Sounds like it to me.
And those MBS’s and REMIC’s were to be tax free as well. But they didn’t follow their own rules, making those NOT tax free ANYMORE.
It’s tax fraud along with title fraud.
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