Foreclosure Fraud & MERS In The Spotlight: Interview With CEO R.K. Arnold (Video, Links, Jamie Dimon Says 'No')

Editor's Note: From October when the MERS controversy began...

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Fox Video:  CEO R.K. Arnold discusses how the company and its database are involved in the nation's foreclosure mess

Several developments regarding MERS in the last few days:

• Who is on the MERS Board of Directors?

• MERS Issues Press Release To "Clarify" Its Role In Foreclosure Fraud

• JPMorgan Chase dumps MERS (today)
  

• Jamie Dimon conference call comments on Foreclosure Fraud (today)

• ProPublica on MERS

• What Is MERS and What Role Does It Have in the Foreclosure Mess? (Hint: It Holds 60% of All Mortgages, But Has ZERO Employees)

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You can also verify your loan servicer with MERS online -- takes about 45 seconds:

• Look Up Your Mortgage at MERS

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And you can find out if Fannie or Freddie own your note:

• Does Fannie Mae Or Freddie Mac Own YOUR Mortgage?
  

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From yesterday:

• Demand To See Your Mortgage Note! -- Brand New Website Makes It Simple

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Comments

[Cheyenne]

What a pile of misinformation.

"MERS was created to simply operate a database."

Really, R.K.? You sure it doesn't bring foreclosure suits too? Right:

"We have won cases across the country that have held that we have standing and can foreclose."

Yes, you have. Many of those judgments are now void since MERS most definitely did NOT have standing. Those judgments are thus open to collateral attack in future proceedings. You may not know it because you're a dipshit, R.K., but Jamie Dimon knows it.

[DailyBail]

yep...i imagine mers will be dumped by most of them pretty soon...here's more links...

Officials in 50 states launch foreclosure probe

http://news.yahoo.com/s/ap/us_foreclosures_states

[DailyBail]

Is MERS Commercial About To Break The CMBS Market?

http://www.zerohedge.com/article/mers-commercial-about-break-cmbs-market

[DailyBail]

http://www.realestateeconomywatch.com/2010/10/3161/

Did Too Many FHA Buyers “Borrow Forward?”

[DailyBail]

Josh Rosner: “Could Violations of PSA’s Dwarf Lehman Weekend?”

http://www.nakedcapitalism.com/2010/10/josh-rosner-could-violations-of-psa%E2%80%99s-dwarf-lehman-weekend.html

[Cheyenne]

“'All of a sudden all of these issues pop up with the lenders,' [Judge] McGrady said in an interview at his Clearwater office. 'It’s going to slow down the whole process because there will be more backlog. We’re still getting 1,000 cases a month.'

"At the Clearwater court, lenders as of yesterday had canceled more than half of the 84 hearings to approve foreclosures that were scheduled for today, according to Ron Stuart, a court spokesman. Half of the 110 hearings originally set to take place tomorrow were canceled as well."

http://www.bloomberg.com/news/2010-10-13/florida-s-foreclosure-rocket-docket-may-slow-to-a-crawl-with-fraud-claims.html

Bracing for impact in 3... 2..

[DailyBail]

Home to more foreclosures than 47 U.S. states, Florida sought to clear out its backlog with a system of special court hearings that dispensed with cases quickly, sometimes in less than a minute.

Homeowners like Nicole West now threaten to slow that system, Florida’s so-called rocket docket, to a crawl. West, who has been fighting to save her Jensen Beach house from foreclosure, has leveled a new allegation in her three-year battle: the entire process is based on fraud.

http://www.bloomberg.com/news/2010-10-13/florida-s-foreclosure-rocket-docket-may-slow-to-a-crawl-with-fraud-claims.html

Nice link cheyenne...things are certainly slowing down in Florida...

[Patrick Rodig]

MERS is simply a fraud. This guy literally talks out of the side of his mouth.