MERS scam

~There is a recent article posted 10/21/2014, “Top Regulator Says Bank CEOs Meant Well–This Evidence Says Otherwise” which commands attention.

 It’s concise and truthful, even refreshing.

 Homeowners for years have struggled with obtaining information regarding MERS system and what it means for them.  I am not an attorney and I am not giving advice- I know nothing about this guy but in my opinion, Richard (RJ) Eskow has written a brilliant and accurate synopsis of MERS. The article is not long and it makes the point. As far as length on this topic, volumes could be written and have been written.  The fraud that has been put on homeowners by banks never end. It was Hollywood for the banks –
lights, camera, action–

 Until– there were Judges, Lawyers and Homeowners who couldn’t be bribed to shut up!

MERS was one of the biggest, greediest scams in history. From the banks perspective it was never ending money for them – greed. Bank executives and their lawyers had successfully thrown the entire US land recording system away, until select sharp Judges and lawyers held them accountable for this mess called MERS.

The fraud perpetrated by the scheme comes off as cartoonish. It’s real but it’s not real – that ruthless kind of bank logic that Americans have endured. Yes, people can say, if you deal with a bank – you know what’s going to happen. But, that’s not true, is it? Homeowners did not get the chance to learn of  MERS. Consumers would attend a closing and this fairy like existence of an entity called MERS was on their documents. Closers would be asked – what’s this? The closer would stumble over stacks of papers and mumble. They didn’t give consumers the time to understand- After all, consumers allegedly placed confidence in banks way back then.
If you want to place blame, ask yourself- who were the professionals that knew the complete details of the MERS system that was being unleashed on consumers and the property recording system in the United States.

If interested in MERS – check out his article!