Tell me why people have paid their loan servicer (in full) and had the note holder (in due course) come after them for payment subsequent to paying off the servicer?

Truth be told – the middlemen do NOT EVER EVER EVER want the borrower and the investor to meet – cause if they did, they’d join hands and go after the fraudster/bankster that peddled this crap and left more than 60 MILLION PEOPLE WITH TOXIC TITLE’S.

Go spin somewhere where people may tend to believe you.

My assignment of mortgage from MERS to _______ (large banking & financial institution that recently announced hefty quarterly profits… hmmmm aren’t they supposed to be losing money with all these foreclosures on their books) was executed by two individuals claiming to be Vice Presidents of MERS – when in fact, they are Vice Presidents of the very same large banking & financial institution that received the assignment – WTF???

Not to mention the fact that __________ (other large financial institution that will remain nameless) never appears on record as having held an interest in my loan when in fact they have. They were skipped over in the chain of custody in public land records. Was this an accident… I think not!

MERS is an outright sham, they are not licensed to do business as a mortgage company in any state.

This in addition to the fact that MERS is listed as both nominee AND mortgagee on my mortgage & insured as mortgagee on my title insurance policy. Yet by their own admission MERS does not and never has owned any beneficial interest in any mortgage or deed of trust. They are merely a tracking service (per the company website).

What they don’t mention is the the $1Billion they (MERS) saved their clients was taken from the local Clerk of Courts office – as a way to ditch the transfer and recordation taxes. Not to mention that recording mortgage liens in public land records is a requirement in order to perfect the lienhold interest.

So while I agree that you can fool some of the people some of the time, and some of the people all of the time, you definitely cannot fool all of the people all of the time and the judicial branch is now starting to GET IT!

You have a right to know who is attempting to collect debt (mortgage loan or otherwise), even if you are in default. Time for US Government to stop partying with default distressed debt (private equity) buyers – and hold “servicers” and MERS accountable.

Ann S./Dr. Housing Bubble,

I’m very impressed with your knowledge here and have a “hypothetical” question if I may?
Since March ‘09 homeowners have been in the process of re-financing their home with numerous delays brought on by the lender (orig. purchase date was 8/06 Conventional 30yr fixed, credit of said homeowners is Excellent). Through out the waiting process the homeowner found out the original lender has sold the mortgage loan and remains the collectors (thus, why lender didn’t notify homeowner of sale). Researching this information and coming across this article has brought about a pressing question: Excluding foreclosure (not the case), is the original lender required to tell homeowner what institution now, holds the original note if requested? If so, and the original note cannot be located, what is the recourse of the homeowner?

I’m very impressed with your knowledge here and have a “hypothetical” question if I may?
Since March ‘09 homeowners have been in the process of re-financing their home with numerous delays brought on by the lender (orig. purchase date was 8/06 Conventional 30yr fixed, credit of said homeowners is Excellent). Through out the waiting process the homeowner found out the original lender has sold the mortgage loan and remains the collectors (thus, why lender didn’t notify homeowner of sale). Researching this information and coming across this article has brought about a pressing question: Excluding foreclosure (not the case), is the original lender required to tell homeowner what institution now, holds the original note if requested? If so, and the original note cannot be located, what is the recourse of the homeowner?