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chill_wind Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Nov-14-10 09:37 PM
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MERS 101
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MERS has absolutely NO EMPLOYEES.

Deposition of Secretary and Treasurer of MERSCORP- William C. Hultman

Does MERS have any salaried employees?
A No.

Q Does MERS have any employees?
A Did they ever have any? I couldnt 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.

Q To your knowledge has Mr. Hallinan ever
reported to the Board?
A He would have reported through me if there was
something to report.

Q So if I understand your answer, at least the
MERS officers reflected on Hultman Exhibit 4, if they
had something to report would report to you even though
youre not an employee of MERS, is that correct?

MR. BROCHIN: Object to the form of the
question.
A Thats correct.

Q And in what capacity would they report to you?
A As a corporate officer. Im the secretary.

Q As a corporate officer of what?
Of MERS.

Q So you are the secretary of MERS, but are not
an employee of MERS?
A Thats correct.



Q How many assistant secretaries have you
appointed pursuant to the April 9, 1998 resolution; how
many assistant secretaries of MERS have you appointed?
A I dont know that number.

Q Approximately?
A I wouldnt even begin to be able to tell you
right now.

Q Is it in the thousands?
A Yes.

Q Have you been doing this all around the
country in every state in the country?
A Yes.

Q And all these officers I understand are unpaid
officers of MERS?
A Yes.

Q And theres no live person who is an employee
of MERS that they report to, is that correct, who is an
employee?

MR. BROCHIN: Object to the form of the
question.

A There are no employees of MERS.









MersCorp was created in the early 1990s by the former C.E.O.s of Fannie Mae, Freddie Mac, Indy Mac, Countrywide, Stewart Title Insurance and the American Land Title Association. The executives of these companies lined their pockets with billions of dollars of unearned bonuses and free stock by creating so-called mortgage backed securities using bogus mortgage loans to unqualified borrowers thereby creating a huge false demand for residential homes and thereby falsely inflating the value of those homes. MERS marketing claims that its paperless systems fit within the legal framework of the laws of all fifty states are now being vetted by courts and legal commentators throughout the country.

The MERS paperless system is the type of crooked rip-off scheme that is has been seen for generations past in the crooked financial world. In this present case, MERS was created in the boardrooms of the most powerful and controlling members of the American financial institutions. This gigantic scheme completely ignored long standing law of commerce relating to mortgage lending and did so for its own personal gain.

That the inevitable collapse of the crooked mortgage swindles would lead to terrible national repercussions was a matter of little or no interest to the upper levels of Americas banking and financial world because the only interest of these entities was to grab the money of suckers, keep it in the form of ficticious bonuses, real estate and very large accounts in foreign banks. The effect of this system has led to catastrophic meltdown on both the American and global economy.

MERS, as has clearly been proven in many civil cases, does not hold any promissory notes of any kind. A party must have possession of a promissory note in order to have standing to enforce and/or otherwise collect a debt that is owed to another party. Given this clear-cut legal definition, MERS does not have legal standing to enforce or collect on the over 60 million mortgages it controls and no member of MERS has any standing in an American civil court.

MERS has been taken to civil courts across the country and charged with a lack of standing in reposession issues. When the mortgage debacle initially, and inevitably, began, MERS always routinely brought actions against defaulting mortgage holders purporting to represent the owners of the defaulted mortgages but once the courts discovered that MERS was only a front organization that did not hold any deed nor was aware of who or what agencies might hold a deed, they have routinely been denied in their attempts to force foreclosure.

In the past, persons alleging they were officials of MERS in foreclosure motions, purported to be the holders of the mortgage, when, in fact, they not only were not the holder of the mortgage but, under a court order, could not produce the identity of the actual holder. These so-called MERS officers have usually been just employees of entities who are servicing the loan for the actual lender. MERS, it is now widely acknowledged by the courts, has no legal right to foreclose or otherwise collect debt which are evidenced by promissory notes held by someone else.

The American media routinely identifies MERS as a mortgage lender, creditor, and mortgage company, when in point of fact MERS has never loaned so much as a dollar to anyone, is not a creditor and is not a mortgage company. MERS is merely a name that is printed on mortgages, purporting to give MERS some sort of legal status, in the matter of a loan made by a completely different and almost always,a totally unknown entity.



MUCH more at this site:

http://stopforeclosurefraud.com /

http://stopforeclosurefraud.com/mers-101 /

"No. There's No Life at MERS"

http://stopforeclosurefraud.com/2010/09/22/no-theres-no... /

I'm posting this as a factual resource to keep in mind in light of speculation that Congress could be looking for a "fix" to the mortgage fraud fiasco.

Lameduck Congress may try to quietly pass a retroactive mortgage fraud immunity bill!

http://www.democraticunderground.com/discuss/duboard.ph...

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