[cynwoody]

What you never said was the MERS was ILLEGAL! You make it sound like they just made a some kind of business mistake or a marketing error not that the BROKE the law. You are a apologist for the banks illegal activity.

Since when is getting real estate law wrong not a business mistake? In any case, if MERS's illegality is so clear, then why are the courts having such a hard time sorting it out? Real estate law is complicated. You can bet plenty of lawyers went over how MERS worked (or was supposed to work) and blessed it as OK. All the banks were trying to do before the system collapsed was to make money serving the public interest, as defined by Barney, namely, that every schlub should be a homeowner, but especially schlubs from the most reliable Democrat constituencies.

[TruthConquers]

MI Court Destroys MERS Finds “MERS Transferred Nothing” with Bonus Securitizat

“The Court finds that the “Assignment”, recorded on December 30, 2009 in the Washtenaw County Register of Deeds, serves to transfer nothing. The alleged conveyance failed to comply with the terms and conditions of the PSA and New York Trust law which governs the PSA. The alleged conveyance stated that MERS assigned the Mortgage and Promissory Note to USB, however, there has been no evidence presented to support the chain of the required assignments and endorsements of the mortgage and note as required by the terms and conditions of the PSA.”

http://www.freerepublic.com/focus/f-news/2732934/posts

[Kartographer]

If it was just a business mistake why wouldn't they just come clean instead of trying to cover it up using fraud, forgery and perjury? If it was a business mistake why are they lobbying so hard to get the laws retroactively changed. That's a good precedent to set. To Big to Fail Corp don't like the law sets up their own and then when they get caught we just make it all legal. I can see you are a advocate of one set of laws for the little people and one set of To Big to Fail. What's the chance if I think a law is out of date and I break it to make some money I can get the legislature to retroactively make it legal so I can get off the hook?

And its not like they didn't no the law its been fairly much the same for YEARS! It was a deliberate attempt to unilaterally change the law. Frankly I see little deference between most of these banks and what Bernie Madoff did. The banks lent money they got from someone else charged both parties service fees, then when the loans went sour the foreclosed on the house sold them and got the sale price as well as the difference from the mortgage insurance (Meanwhile charging even more fees) plus what ever they could get out of the 'dead beats' and then they gor TRAP money to help them with their Losses and yet they are the injuryed party! WHAT A CROCK!