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Niday Vs. GMAC case Oregon! Foreclosures to resume!

Niday Vs. GMAC case Oregon! Foreclosures to resume!

MERS ruling is pushing it’s way in with the heavy guns. MERS and Banks
seem to have won this new victory over the homeowner and non-judicial
foreclosures will soon be back on the rise in Oregon.

It appears that the rulings with the courts are in clear favor with the
banking institutions and MERS (Mortgage Electronic Registration System).
When a loan is transfered from one lender to the next it’s called an
assignment. When an assignment occurs it’s suppose to be recorded
in the county in which the property resides. This was the way business
was done until MERS and Wall Street showed up.

Not only is a lender suppose to properly record such action but
notification of the new Lender is to sent to the borrower. However,
MERS is the face of hundreds of lenders and if not thousands due
to something called a traunch.

A traunch is a mortgage backed security and until the 90′s was considered
illegal to do by banking industries. With new legislation in affect, banks
have been able to slice a loan into a thousand pieces called a traunch in
layman terms.

So instead of a bank such as Bank of America, Chase, or Wells Fargo owning
the loan in it’s entirety, it’s really owned by hundreds if not
thousands of investors. An example would be Chase “owns” the loan.
(Even though for this example isn’t the entire truth.) Chase has investors
from Wall Street purchase a single loan that’s secured against a home by
Mr. Borrower. From the outside it can appear as if Chase actually owns the loan.
MERS is the front man cover up on something called a Trust Deed which disguises who
really owns the loan.

These traunches were sold on Wall Street and broken up by tons of investors
and were even more fractionalized by each year of the loan. An example would be XYZ Fund, Inc.
purchased the first year of a 30 year loan at a lower rate of return because
the likely hood of foreclosure was slim in the first year. Then ABC Fund, Inc.
purchased the 2nd year of the 30 year loan at a higher rate of return due
to the possibility of foreclosure being higher. Do you get the picture?

To break it up even more, there are hundreds and thousands of shareholders
that are broken up into one fund which creates an even more fractional lending
nightmare. This is why MERS is the beneficiary of around 80% or more of
on the Trust Deeds. Go check your Trust Deed (in some states called Deed of Trust)
and see who your beneficiary is. I bet it’s MERS.

So why would the banks have registration company be listed as the beneficiary?
Because, they can hide behind the curtain of OZ. They are doing white crime trickery!
Behind the curtain is the true lender in fact. Not only the true lender but fractional
lenders. If it wasn’t for MERS and legislation that was passed in the 1990′s then
a lender of today would have to literally record hundreds, if not thousands of
assignments in the county of the property. But due to this new banking phenomena
Banks have been making more money then ever even during this unprecedented
foreclosure process of the United States.

See what is happening in Oregon and where foreclosures are going…

http://www.oregonlive.com/front-porch/index.ssf/2013/06/oregon_supreme_court_rules_len.html


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