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For a better understanding of the MERS fraud read this.<br>
Agnes<br>
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<th align="RIGHT" nowrap="nowrap" valign="BASELINE">Subject:
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<td>Fwd: Register gets standing in PA MERS lawsuit</td>
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<th align="RIGHT" nowrap="nowrap" valign="BASELINE">Date: </th>
<td>Fri, 26 Oct 2012 10:55:24 -0700</td>
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<th align="RIGHT" nowrap="nowrap" valign="BASELINE">From: </th>
<td>Susan Harman <a class="moz-txt-link-rfc2396E" href="mailto:susanharman1@gmail.com"><susanharman1@gmail.com></a></td>
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<th align="RIGHT" nowrap="nowrap" valign="BASELINE">Reply-To:
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<td><a class="moz-txt-link-abbreviated" href="mailto:foreclosurepreventionzones@googlegroups.com">foreclosurepreventionzones@googlegroups.com</a></td>
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<th align="RIGHT" nowrap="nowrap" valign="BASELINE">To: </th>
<td><a class="moz-txt-link-abbreviated" href="mailto:california-occupy-homes@googlegroups.com">california-occupy-homes@googlegroups.com</a>,
<a class="moz-txt-link-abbreviated" href="mailto:foreclosurepreventionzones@googlegroups.com">foreclosurepreventionzones@googlegroups.com</a></td>
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<div>Begin forwarded message:</div>
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<div style="margin-top: 0px; margin-right: 0px; margin-bottom:
0px; margin-left: 0px;"><span class="Apple-style-span"
style="font-family: Palatino; font-weight: bold;
line-height: 35px; font-size: x-large; ">Montco recorder
of deeds can pursue litigation</span></div>
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-webkit-line-break: after-white-space; ">
<p style="font-family: Palatino, Georgia, Times, 'Times New
Roman', serif; font-size: 18px; line-height: 25px;
text-align: justify; ">The federal court has upheld the
Montgomery County Recorder of Deeds’ right to sue an
electronic mortgage registry company and banks doing
business with that company for $15.7 million that she
claims is owed to the county in recording fees.</p>
<p style="font-family: Palatino, Georgia, Times, 'Times New
Roman', serif; font-size: 18px; line-height: 25px;
text-align: justify; ">The court Friday issued a 36-page
memorandum and order denying a motion by MERS, also known
as Mortgage Electronic Registry System, and its
participating banks to dismiss the lawsuit filed last year
by Recorder of Deeds Nancy J. Becker.</p>
<p style="font-family: Palatino, Georgia, Times, 'Times New
Roman', serif; font-size: 18px; line-height: 25px;
text-align: justify; ">The court’s ruling, while not
discussing the merits of the case, essentially states that
Pennsylvania does have a law requiring that mortgage
assignments be recorded with the recorder of deeds office
and that the recorder of deeds has the right to bring
legal action when he or she does not believe an entity is
complying with the law.</p>
<p style="font-family: Palatino, Georgia, Times, 'Times New
Roman', serif; font-size: 18px; line-height: 25px;
text-align: justify; ">“This is one major hurdle that we
have now leaped,” Becker said Monday. “Now, we can move
forward on the issues.”</p>
<p style="font-family: Palatino, Georgia, Times, 'Times New
Roman', serif; font-size: 18px; line-height: 25px;
text-align: justify; ">MERS is a for-profit company that
has set up a centralized database system of more than 60
million mortgage loans and 3,000-plus lending institution
members across the country.</p>
<p style="font-family: Palatino, Georgia, Times, 'Times New
Roman', serif; font-size: 18px; line-height: 25px;
text-align: justify; ">Created by the real estate finance
industry in 1995, the company eliminates the need to
prepare and record assignments when trading residential
and commercial mortgage loans, according to the company’s
website.</p>
<p style="font-family: Palatino, Georgia, Times, 'Times New
Roman', serif; font-size: 18px; line-height: 25px;
text-align: justify; ">Prior to the creation of MERS, a
lending bank would file an “assignment” with the county
land records office when it sold that mortgage loan to
another lending institution. Now, when MERS’ members file
a mortgage with a county land recording office, it lists
MERS as its nominee. When the loan is transferred or sold
to another MERS member, it is done electronically through
MERS and no additional paperwork or fees are required.</p>
<p style="font-family: Palatino, Georgia, Times, 'Times New
Roman', serif; font-size: 18px; line-height: 25px;
text-align: justify; ">Becker has said that, when these
mortgage loans are transferred electronically, sometimes
multiple times, through MERS and not filed in the county
recorder of deeds office, “it makes it difficult, almost
impossible sometimes” for property owners to determine
what institutions are holding their mortgages.</p>
<p style="font-family: Palatino, Georgia, Times, 'Times New
Roman', serif; font-size: 18px; line-height: 25px;
text-align: justify; ">Becker also has estimated that
Montgomery County alone has lost about $15.7 million in
assignment fees because of the MERS assignments.</p>
<p style="font-family: Palatino, Georgia, Times, 'Times New
Roman', serif; font-size: 18px; line-height: 25px;
text-align: justify; ">Some 146,715 MERS mortgages have
been recorded in her office from April 2004 through
September 2011, according to Becker.</p>
<p style="font-family: Palatino, Georgia, Times, 'Times New
Roman', serif; font-size: 18px; line-height: 25px;
text-align: justify; ">MERS’ representatives repeatedly
have denied Becker’s claims that its system undermines
accurate land recording while also costing the county
millions in assignment fees.</p>
<p style="font-family: Palatino, Georgia, Times, 'Times New
Roman', serif; font-size: 18px; line-height: 25px;
text-align: justify; ">The company said MERS is in
compliance with the purpose and intent of state recording
laws.</p>
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