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    MERS Admits in Dec 2012 Letter To FHFA, That They Do Not "Hold" Any Mortgage

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    Tim Bryant
    MERS letter to FHFA concerning the future of securitization. MERS admits, on page 4, that they do not "hold" a mortgage. It states, "MERS is not involved in the custodial handling of mortgage-related documents". To break it down, MERS does not; 1) create the mortgage, 2) execute the mortgage, 3) countersign the mortgage, 4) have any express "nominee" authority, FROM THE LENDER, in the mortgage, 5) have the Lender countersign the mortgage, to pass the Statute of Frauds, 6) have any Power of Attorney from the Lender, to which it can execute contracts on their behalf, 7) have a banking license, anywhere, to which it can hold, assign, or transact in the bank's assets 8) record the mortgage, 9) maintain physical custody of the mortgage, 10) ever see the mortgage

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    MERS Admits in Dec 2012 Letter To FHFA, That They Do Not "Hold" Any Mortgage

    Uploaded by

    Tim Bryant
    675 views11 pages
    MERS letter to FHFA concerning the future of securitization. MERS admits, on page 4, that they do not "hold" a mortgage. It states, "MERS is not involved in the custodial handling of mortgage-related documents". To break it down, MERS does not; 1) create the mortgage, 2) execute the mortgage, 3) countersign the mortgage, 4) have any express "nominee" authority, FROM THE LENDER, in the mortgage, 5) have the Lender countersign the mortgage, to pass the Statute of Frauds, 6) have any Power of Attorney from the Lender, to which it can execute contracts on their behalf, 7) have a banking license, anywhere, to which it can hold, assign, or transact in the bank's assets 8) record the mortgage, 9) maintain physical custody of the mortgage, 10) ever see the mortgage

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    MERS admits in Dec 2012 letter to FHFA, that they do not "hold" any mortgage

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    MERS letter to FHFA concerning the future of securitization. MERS admits, on page 4, that they do not "hold" a mortgage. It states, "MERS is not involved in the custodial handling of mortgage-related documents". To break it down, MERS does not; 1) create the mortgage, 2) execute the mortgage, 3) countersign the mortgage, 4) have any express "nominee" authority, FROM THE LENDER, in the mortgage, 5) have the Lender countersign the mortgage, to pass the Statute of Frauds, 6) have any Power of Attorney from the Lender, to which it can execute contracts on their behalf, 7) have a banking license, anywhere, to which it can hold, assign, or transact in the bank's assets 8) record the mortgage, 9) maintain physical custody of the mortgage, 10) ever see the mortgage

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Flag for inappropriate content
    675 views11 pages

    MERS Admits in Dec 2012 Letter To FHFA, That They Do Not "Hold" Any Mortgage

    Uploaded by

    Tim Bryant
    MERS letter to FHFA concerning the future of securitization. MERS admits, on page 4, that they do not "hold" a mortgage. It states, "MERS is not involved in the custodial handling of mortgage-related documents". To break it down, MERS does not; 1) create the mortgage, 2) execute the mortgage, 3) countersign the mortgage, 4) have any express "nominee" authority, FROM THE LENDER, in the mortgage, 5) have the Lender countersign the mortgage, to pass the Statute of Frauds, 6) have any Power of Attorney from the Lender, to which it can execute contracts on their behalf, 7) have a banking license, anywhere, to which it can hold, assign, or transact in the bank's assets 8) record the mortgage, 9) maintain physical custody of the mortgage, 10) ever see the mortgage

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Flag for inappropriate content
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