STATE OF MICHIGAN SIXTEENTH JUDICIAL CIRCUIT MACOl\1B COUNTY

JANETTE ISSAC, Individually and YOUKHANA ADISHO, Individually,

Han. John C. Foster Case No. 11-165-NO

Plaintiffs,
v

ORLANS AND ASSOCIATES, P.C., A Michigan Professional corporation, U.S. BANK NATIONAL ASSOCIATION, AS TRUSTEE FOR THE STRUCTURE ASSET SECURITIES CORPORATION MORTGAGE PASS-THOUGH CERTIFICATES, 2006-EQ1, a New York Common Law Trust, MORTGAGE ELECTRONIC REGISTRATION SYSTEMS, INC., a Delaware Corporation, Defendants. Ziyad Kased (P72237) Attorney for Plaintiffs 625 East Big Beaver Road, Suite 205 Troy, Michigan 48083 (248) 680-7300 Plunkett Cooney Matthew J. Boettcher (P40929) Patrick C. Lannen (P73031) Attorneys for U.S. Bank and MERS 38505 Woodward Ave., Suite 205 Bloomfield Hills, MI, 48304 (248) 901-4035/4027 ORLANS ASSOCIATES, P.C. Kristina E. Janssens Attorney for Orlans 1650 West Big Beaver Road Troy, MI, 48084 (248) 502-1580

PLAINTIFFS' BIUEF IN OPPOSITION TO DEFENDANT ORLANS ASSOCIATES, P.C's MOTION FOR SlJMl\IlARYJUDGMENT
Plaintiffs executed a unique purported mortgage, never seen before the creation ofMERS

in which the mortgagee is MERS but MERS is not the Lender on the Promissory Note.

The

Lender in this mortgage is Equifirst. The mortgage the Plaintiffs signed was what is referred to by MERS and its members as a ""MOM" mortgage. MOM stands for Mers as Original Mortgagee. Before Defendant Orlans drafted this Motion to Dismiss pursuant to MCR 2.116 (C)(8), the Michigan Court of Appeals ruled on these MERS' MOM mortgages after carefully analyzing the language in the mortgage documents themselves. The Court of Appeals ruled that

auv Mortgage nanling MERS as the Mortgagee in which the Mortgage was foreclosed by
advertisement is "void ab initio," Residential Funding, Co.LLC vs. Saurman, ---N.W.2D- - (2011); 2011 Further, MERS has acknowledged to the Congressional Oversight Panel dealing with fraudulent documentation in the foreclosure process that it is familiar with the crisis and has in fact admitted that it has learned that its so-called "certifying officers" have been pressured by MERS members to perform activities not allowed by law or by the MERS Rules. M. Issacs' . Exhibit 10 attached to his transcript. The MERS Rules require that a candidate for a MERS certifying officer (i.e. an Assistant Secretary and Assistant Vice President) must be an officer ora member. They must have a basic

understanding of the MERS model and be trained by the Member in how to perform their duties as certifying officers. They also must pass
all

examination administered by !vIERS. See Marshall Isaacs, an Attorney for Orlans,

Marshal Issacs Exhibit 8 attached to his transcript.

was never an officer of the Lender in this case, EquiFirst Corporation and is, upon information and belief, not an officer of U.S. BANK NATIONAL ASSOCIATION, THE STRUCTURE ASSET SECURITIES CORPORATION AS TRUSTEE FOR PASS-

MORTGAGE

THOUGH CERTIFICATES,

2006-EQ1. He is the attorney who drafted the assignment from

MERS to U.S. BANK (as Trustee) in this case. MERS has also recently entered into a settlement agreement with several federal regulators in which it was found that MERS was engaged in harmful practices and one of the areas addressed is the role and actions ofMERS Certifying Officers
r

"The agencies have found identified certain deficiencies and unsafe or unsound

practices by MERSCORP, Inc. (MERSCORP) and its wholly owned subsidiary Mortgage Electronic Registration Systems, Inc. (MERS) ... " Isaacs Exhibit 12 attached to his transcript. The specific settlement agreement between the Federal Regulators and MERS addresses specifically Certifying Officers. Exhibit 12 at Article 13, pages 13 through 14. STANDARD OF REVIEW MCR 2.1 16(C)(8) states that an action may be dismissed if the complaint fails to state a claim upon which relief can be granted. Id. See also ABB PAINT FINISHING UNION FIRE INSURANCE COMPANY OF PITTSBURGH INC v. NATIONAL

PA, Michigan Court of Appeals

Docket Number 192855, and May 16, 1997. A motion under MCR 2.116(C)(8) tests the legal sufficiency of the complaint. Maiden v. Rosewood, 461 Mich. 109 (1999). All factualllegations in the complaint must be presumed to be true, and reasonable inferences must be construed in a light most favorable to the non-moving party. See KUZ11Gr v. Raksha Corp., 481 Mich. 169, 176; 750 N.W.2d 121 (2008) and Wade v. Dep't. a/Corrections, 439 Mich. 158, 162 (1992). A

motion under MCR 2.116(C)(8) may only be granted where the claims alleged are clearly unenforceable as a matter of law and no [actual developmellt could justify recovery. See Kuzna, supra and Wade, supra. at 163. See also Int'l Brotherhood of Electrical Workers, Local 58 v. JvfcNulty, 214 Mich.App. 437,443-444,543 N.W.2d 25 (1995). When deciding a motion

brought under this section, a Court considers only the pleadings. MeR 2.116(G)(5). However, in actions based on contract, the Court may examine the writing in conjunction with the motion.

Second Bent Harbor. v. St. Paul Title Ins. Co., 126 Mich. App. 580 (1983). Where a motion is brought under MCR 2.1 16(C)(8), the trial court should liberally permit the parties to amend their pleadings unless amendment "would not be justified. " MCR 2.116(I)(5).

PLAINTIFFS'

RESPONSE

IS TO ASK FOR LEAVE TO AMEND

Here, the Plaintiffs do not simply rest on their challenged pleading, but rather will file a motion within two weeks from today's date for Leave of this Court to Amend their Complaint. This is necessitated not only by Defendant Orlans' Motion but also because of a change in the law in the State of Michigan affecting all MERS' mortgages and because of the deposition of Marshal Isaacs taken by Plaintiffs' attorney in another similar case in which Marshall Isaacs executed an Assignment as an Assistant Secretary and Vice President ofMERS. See and compare Isaacs Exhibits 3 and 5 attached to his Transcript. In that case, Eaman Shina et al. vs. Federal National Mortgage Association et al, Oakland County Circuit Court Case No. 10107260-CK assigned to the Honorable Judge Rae Lee Chabot, a deposition was conducted but thwarted by Defendants. Plaintiffs attach the transcript and Exhibits as part of this Motion to show that amendment of their Complaint is justified and will supply factual information and specific details not contained in their challenged pleading.

PLAINTIFFS

WERE CERTAINLY

OWED A DUTY BY ORLANS

Orlans uses sleight of hand to say that " ... it is clear that Orlans Associates, P.C. is a lawfirm retained to handle the foreclosure and oversee the redemption." First, the MERSCORP INC. Rules of Membership, specifically Rule 3, Section 3 (a) permits only Officers of its Members to serve as its "certifying officers", specifically as its "Assistant Secretaries and Vice Presidents."

See Isaacs Transcript at page 15, Line 22 through page 19, Line 12. See also Exhibit 7 attached to Isaacs' transcript. Also see Rule 10 of Exhibit This concept and Rule that wIERS certifying officers (its Assistant Secretaries and Vice Presidents) was recently reiterated by R.K. on November 18,2010 in his testimony as President and CEO of both MERSCORP, INC. "and its subsidiary, Mortgage Electronic Registration Systems, Inc." Isaacs Exhibit 8 at page 5. "'MERS has specific controls over who can be identified by its members as a certifying officer. To be a MERS certifying officer, one must be a company officer ofthe member institution, have basic knowledge ofMERS, and pass a certifying examination administered by MERS.n Isaacs Exhibit 8 at 13. See also Transcript at page 20, Line 7 through page 23, Line 10.

Mr. Arnold also testified that "Earlier this year, when we became aware of acceleration ill tile
foreclosure document processing, we grew concerned that some certifying officers might have ill a manner inconsistent witiz Ollr Rules."

been pressured to perform their responsibilities

Isaacs Transcript at page 23, linesll through 18. See Exhibit 8 at page 3. Arnold continued his congressional testimony: "When we discovered that some so-called robe-signers were MERS certifying officers, we suspended their authority until they could be retrained and retested. Isaacs Transcript at page 23, Lines 11 through 25. Arnold also testified about certified officers being "the same officers whom the lenders and servicers use to carry out these functions even when MERS is not the mortgagee. Exhibit 8, at page 12. Also see Exhibit 8 page 42 through 44 which Mr. Arnolds answer to a question he was asked to answer, specifically, How does one become a Vice President andlor Assistant Secretary ofMERS? What Compensation do they receive?

[.

Approximately how many Vice Presidents and/or Assistant Secretaries does MERS have? What is MERS policy on conflicts of interest regarding Vice Presidents and/or Assistant Secretaries

that are employed mortgage loan?

by banks or investors that they may have other conflicting

interests in a

On page 42, Arnold testifies that: "Certifying Electronic Registration

Officers conduct much of the business of Mortgage are employees and officers ofMERS Registration Systems,

Systems, Inc. These individuals

members who are appointed Inc. with the title

as limited officers of Mortgage Electronic

of vice president and/or assistant secretary by means of a corporate resolution."

Finally, on page officers who 10 is

Isaacs Exhibit 8 at 42. See also pages 42 and 43 for the rest of this testimony. 44, Arnold testified that "[ a]s of November

20, 2010, MERS has 20,302 certifying

work with the more than 31 million active loans registered a Report of the Congressional mortgage Admissions foreclosure

on the MERS System." Exhibit

Oversight Panel dated November

16, 2010 concerning

the

documentation

scandal. It speaks of robo-signing and contractors "testified that they signed, and in of facts about

of large lenders that employees thousands

some cases backdated, mortgages the Report.

of document

claiming personal knowledge

that they did not actually know to be true. Exhibit On pages 16 through 22, the Report specifically in the securitization

11 at page 4 and in other places focused on the role of MERS identified

in

in the

crisis and also the role ofMERS 11 is the recent Michigan -N.W.2D-

problems

in the Report. Exhibit

Court of Appeals case of Residential Funding, Co.LLC vs. Saurman, --

- - (2011); 201 I WL 1516819. cases involved two separate foreclosures instituted by

In Residential Funding, two consolidated

Nortgage Electronic Registration

Systems, Inc. (MERS), the mortgagee

in both cases. After

tbese foreclosures

each assignment

was quit claimed by MERS to a third party and not to the

original lender.

The sole question presented 600.3204(1)(d) foreclosure advertisement (meaning to Foreclose

was whether

MERS is an entity that qualifies under MeL on the subject properties or ifit must instead seek by

by Advertisement judicial process.

by Michigan's

The Court held that MERS may not foreclose conducted

and any Foreclosure

by Advertisement

by MERS is void ab initio

void at the time the foreclosure

took place and not at the time it was declared by the

Court to be void.) The Residential Funding Court analyzed the type of mortgage in tins case. and note in each case and the

analysis reflects precisely the type of mortgage

Each note provided for the amount of the loan, the interest rate, methods and requirements of repayment, the identity of the lender and borrower and the like. The mortgage instrument provided for rights of foreclosure of the property by the mortgagee in the event of default on the loan. The lender, though named as the lender in the mortgage security instrument, was not designated therein as the mortgagee. Instead, the mortgage stated that the Mortgage Electronic Registration Systems, Inc ("MERS") "is the mortgagee under this Security Instrument" and it contained several provisions addressing the relationship between MERS and the lender including: "MERS" is Mortgage Electronic Registration Systems Inc. MERS is a separate corporation that is acting solely as a nominee for Lender and Lender's successors and assigns. MERS is the mortgagee under this Security Instrument. This Security Instrument secures to Lender: (i) the repayment of the Loan, and all renewals, extensions and modifications of the Note; and (ii) the performance of Borrower's covenants and agreements under this Security Instrument and the Note. For this purpose, Borrower does hereby mortgage, warrant, grant and convey to MERS (solely as nominee for Lender and Lender's successors and assigns) and to the successors and assigns ofMERS, with the power of sale, the following described property .... Borrower understands and agrees that MERS holds only legal title to the interests granted by Borrower in this Security Instrument, but, if necessary to comply with law or custom, MERS (as nominee for Lender and Lender's successors and assigns) has the right: to exercise any or all of those interests, including, but not limited to, the right to foreclose and sell the Property; and to take any action required of Lender including, but not limited to, releasing and canceling this Security Instrument. This language is idelltical to the Mortgage MERS itself as a MOM mortgage in the case at bar. Tills is commonly referred to by

***

(Mers as Original Mortgagee).

Residential Funding noted: The record evidence establishes that MERS owned neither the notes, nor an interest, legal share, or right in the notes. The only interest MERS possessed was in the properties through the mortgages. Given that the notes and mortgages are separate [page 5] documents, evidencing separate obligations and interests, MERS' interest in the mortgage did not give it an interest in the debt

Ie!. at 5 & 6.
MERS cannot assign a mortgage without assigning the Note and it cannot assign the Note. The United States Supreme Court held long ago that: "The note and mortgage are inseparable; the former as essential, the latter as an incident. An assignment of the note carries the mortgage with it, while an assignment of the latter alone is a nullity." Carpenter v. Logan, 83 U.S. 271, 274 (1872). Applying Residential Funding to the case at bar, it is clear that MERS cannot assign something it does not have. It cannot assign a Note because the Court of Appeals ruled that ..... MERS owned neither the notes, nor an interest, legal share, or right in the notes. The only interest MERS possessed was in the properties through the mortgages. Given that the notes and mortgages are separate [page 5] documents, evidencing separate obligations and interests, MERS' interest in the mortgage did not give it an interest in the debt."Id Wherefore, Plaintiffs ask this court to permit them to amend their complaint within two (2) weeks from today's date.

Dated: May 23,2011

/1/ ~/J__
Ziyad iased (P72237) Attorney for Plaintiffs 625 East Big Beaver Road, Suite 205 Troy, Michigan 48083 (248) 680-7300

Page 1 MARSHALL ISAACS May 13, 2011

1

STATE OF MICHIGAN SIXTH CIRCUIT COURT OAKLAND COUNTY

2 3
4

5 6 7
8

EAMAN SHINA, Individuals,

FARIS

SHINA,

Plaintiffs,
VS.

Case No. 10-107260 Hon. Rae Lee Chabot

9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 The Deposition FEDERAL NATIONAL BAC HOME LOANS, MORTGAGE SERVICING,

ASSOCIATION LP, a

Foreign Corporation,

MORTGAGE SYSTEMS, INC.,

ELECTRONIC REGISTRATION a Foreign Corporation,

Defendants.

of MARSHALL ISAACS,

Taken at 1650 West Big Beaver Road, Troy, Michigan,. at 1:57 p.m.,

Commencing

Friday, May 13, 2011, Before Alison C. Matthes, CSR-6266, RPR.

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Page 2 MARSHALL ISAACS May 13, 2011 1

2

APPEARANCES:

3 4 5

ZIYAD KASED 625 East Big Beaver Suite 205 Troy, Michigan 248.680.7300 Appearing on behalf of the Plaintiffs. 48083 Road

6
7

8
9

10
11

MICHELLE Bodman,

T. THOMAS
PLC

12
13 14 15 16 17

1901 Saint Antoine

Sixth El oor Detroit, Michigan 48226

313.393.7508 Appearing on behalf of the Defendants.

18
19 20 21 22 23 24 25

TIMOTHY B. MYERS
Orlans Associates, P.C.

1650 West Big Beaver Road Troy, Michigan 248.502.1362 Appearing on behalf of Marshall Isaacs. 48084

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Page 3 MARSHALL ISAACS May 13, 2011

1 2 3 4 5 Witness

TABLE OF CONTENTS

Page ISAACS

MARSHALL

6
7
8
9

EXAMINATION BY MR. KASED:

5

EXHIBITS

10 11 Exhibit

Page

12 13
14 15 16 17 18 (Exhibits attached to transcript.)

DEPOSITION DEPOSITION DEPOSITION DEPOSITION DEPOSITION

EXHIBIT EXHIBIT EXHIBIT EXHIBIT EXHIBIT

1 2 3 4

5 5
5

5 5 5
5

19
20 21 22 23

5 6
7
8 9

DEPOSITION EXHIBIT DEPOSITION EXHIBIT

DEPOSITION EXHIBIT DEPOSITION EXHIBIT DEPOSITION EXHIBIT DEPOSITION EXHIBIT

5
5

24
25

10 11

5
5

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MARSHALL ISAACS May 13, 2011
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DEPOSITION DEPOSITION DEPOSITION DEPOSITION

EXHIBIT 12 EXHIBIT 13 EXHIBIT 14 EXHIBIT 15

5 5 5 5

'1

3
4

5
6
7

8 9

10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25

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Page 5 MARSHALL ISAACS May 13, 2011 1 2 3

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7

Troy, Michigan Friday, May 13, 2011 1:57 p.m.

MARSHALL ISAACS, was thereupon called as a witness herein, and after having first been duly sworn to testify to the truth, the whole truth and nothing but the truth, was examined and testified as follows: MARKED FOR IDENTIFICATION: DEPOSITION EXHIBITS 1-15 1:57 p.m. MR. KASED: Let the record reflect this is

8 9

10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 BY MR. KASED:

the deposition of Marshall Isaacs as assistant secretary and vice president of Mortgage Electronic Registration Systems, Inc., taken pursuant to order of the court after a motion for protective order was sought. This deposition is being taken for any and all purposes authorized by the Michigan Court Rules. This case is in the Circuit Court for Oakland County, case number 10-107260-CK. Rae Lee Chabot. EXAMINATION It's in front of Judge

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Page 6 MARSHALL ISAACS May 13, 2011

1 2 3 4 5 6 7 8 9

Q. A. Q.

Good afternoon, Mr. Isaacs. Hello. I know that you're an attorney. participated Have you, yourself,

in depositions as an attorney before?

A. Q.

I have testified at depositions, yes. Okay. Did it involve Mortgage Electronic Registration

Systems, do you recall? A. Q. No. I understand that you're familiar with depositions, but I'm just going to go over a few ground rules so the record in this case is clear. reporter sitting next to you. There is a court

10 11 12 13
14

She's taking down every

word that you or I or either of the attorneys sitting here says. To make her job easier and for record

15 16 17 18 19 20 21 22 23 24 25

clarity, I'll ask that you do not speak while I'm speaking, and I'll do my best to not speak while you're speaking_ I'm going to ask you some questions. you don't understand If

the questions, let me know and If you don't know the If you

I'll ask it a different way.

answer to a question, just say you don't know_

need to go to the restroom or if you need a break for any reason, let me know and we'll accommodate that. I

just ask that if there is a question pending, I'd like the question answered before we take a break.

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MARSHALL ISAACS

May 13, 2011 1

2

Mr. Isaacs, are you under the influence of any medication for any condition that might affect

3 4 5
6

your ability to provide accurate answers to my questions today?

A.
Q.

No. Mr. Isaacs, you are a vice president and assistant secretary of Mortgage Electronic Registration Systems; correct?

7 8
9
rl

Through signed documents, yes, I was given that title. And hereinafter, I'm just going to refer to them as Do you know since when you held

10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25

Q.

MERS, if that's okay. that title?

In what year you got that title?

A.

I believe the authority for me to sign documents was given in 2009 for BAC.

Q.

And MERS is a nationwide company; correct? I don't know. Do you know on about how many mortgages they're listed as mortgagee?

A.
Q.

A.
Q.

I have no idea. Can you generally describe what MERS does?

i"lS.

THOIvlAS: abjection.

That r s not one of

the four topics that is listed in the Order that we're going to -- as topics for deposition today. MR. RASED: MR. MYERS: Noted. I would join in that objection.

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1
2 3 4 5 6
7

And, step

in fact and

-- in fact,

I'm going not

to take

the extra any has

instruct that

my witness

to answer Judge

questions ordered. has been what that

are outside

of what

Chabot

It's my understanding, prepared Chabot's 31st, to testify Order to,

and what my witness is in accordance outlines, clear that with and the

Judge March

specifically is quite

2011 order

8
9

plaintiffs with would sign MERS, respect

are entitled

to depose

Marshall only,

R. Isaacs and that to of

to the following to sign secretary history him

topics

10 11 12 13

be the authority as an assistant his employment authorizing secretary

-- his authority and vice president

with

MERS,

MERS

corporate as an and

resolution assistant

to sign

documents

14
15 16 17 18 19 20 21 22 23 24

and vice

president

of MERS, 3rd,

the Assignment and recorded

of Mortgage on January

dated

January

2010,

20th,

2011. we're not any

Outside obligated questions and we're outside

of that,

Counsel,

not going

to be answering

the scope Okay.

of this Order. The question what MERS was to Are

MR. KASED: Mr. you Isaacs,

if he can describe

does.

instructing

him not to answer? I am instructing not within him not of to

MR. MYERS: answer Judge because Chabot's that's Order.

the scope

25

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May 1 2 3 13,

ISAACS
2011 MR. MS. instruction, KASED: THOMAS: Okay. And
I would

Page 9

be joining

in that

as well.

4
5 6 7 8 9 10 11

BY MR. KASED: Q.
How did president you become of MERS? of getting I guess, authority to get so MERS, to the assignments prepared and executed of -to the varlOUS -- signed signing an assistant secretary and vice

A.

The issue quickly, assigning law firms quicker, authority

facilitated by HERS

the giving and the BAC

the -- sign some mortgage along various with BAC, law firms granted

12 13 14 15 16
17

who do the assign the

foreclosures assignments.

so that

they could,

basically,

Q.

So did you No.

fill

out

an application?

A.
Q. A. Q.

Did you receive No. Do you have vice

any

training?

18 19 20 21 22 23 24 25

any business and

cards

that

show

that youJre

president

assistant

secretary

of MERS?

A.
Q.

No. Are you paid by MERS at all?

A.
Q.

No.
Do you attend No. any meetings? MERS meetings?

A.

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Page MARSHALL ISAACS May 13, 2011 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 Q. A. Q. Do you report to anyone at MERS?

10

A.
Q.

No.
Do you recall who asked you to accept that position?

A.
Q.

No.
r'm going exhibits direct to place that your were in front labeled of you, Mr. Exhibits Isaacs, I'll

1, 2 and 3.

attention

to Exhibit Authority.

1, entitled, Do you know what

Agreement this is? would

For Signing

A.

This

be the agreement

that MERS

gave

to allow behalf.

me

to sign Have Yes, Okay. you

documents seen this

-- assignments document

on their today?

before

I have. Exhibit 2 is entitled, MERS, Inc., Corporate

Q.

Resolution;

correct?

16
17 18

A.
Q.

Yes. Have Yes, And it's you seen this document before today?

A.
Q.

I have. Exhibit 3 is entitled, Assignment of Mortgage, Mr. and and

19
20 21 22

concerning

the plaintiffs

in this case,

Ms. Shina;

correct?

A.
Q.

Yes. And Yes, that is your signature?

23 24
25

A.
Q.

it is. signed it as assistant secretary and vice

And you

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MARSHALL
May 1 2 3 13,

ISAACS 2011 president correct? of Mortgage Electronic Registration Systems;

A.
Q.

Yes, And

I did.

4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25

that

assignment

was prepared

and

drafted correct?

by you as

an attorney A. Q. Correct. This document

for Orlans

& Associates;

was

sworn to by you 3rd, 2010;

and

notarized

by a

notary A. Q. No.

on January

correct? 3rd, 2010.

I signed

it on January said. Yes. actual

That's Oh,

what

A.
Q.

I'm sorry. any

Do you have that day?

recollection

of what happened

A. Q.

No. And the before effective January3rd, date of the assignment 2010; correct? is on or

A.
Q.

Yes. And is there Just above a date by your signature? below it there is. for

A.
Q.

it there

is, and just

So this Orlans

document

was drafted and then and vice is that

by you as an attorney signed president correct? by you as pursuant

& Associates,
secretary resolution;

assistant corporate

to a

A.
Q.

Correct. And that corporate resolution is what we have marked

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MARSHALL
May 13,

ISAACS
2011 as Exhibit 2; correct?

1
2 3 4 5 6
7

A.
Q.

Yes. Can you explain how an assignment and notarized the date of a mortgage on January that

was signed effective notarized?

by you

3rd, become

on or before

it is actually

A.
Q.

I donlt Okay.

understand

your question. was signed the effective by you and notarized date says, on or

8
9

The assignment 3rd, but 3rd.

on January before

10 11 12 13 14 15 A.

January

Can you explain before

how this it was

assignment actually Well, that

can be effective signed

the date

and notarized? is nothing to the world transferred. more that than a document

an assignment gives notice

the mortgage interest can by

interest

has been

Mortgage

be~ransferredprior 17 18 19 20 21 22 23 Q. other Move documentation. on to Exhibit 4.

to the recording

assignment

This

document Mr.

is the mortgage and Ms. Shina;

for the plaintiffs correct?

in this case,

A. Q.

It is a mortgage Do you recognize

for the Shinas, that document

yes. Have you seen

at all?

it before?

24
25

A.
Q.

It doesnlt But that

look

familiar. same mortgage that you assigned from

is the

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Page MARSHALL ISAACS May 13, 2011

13

1 2
3 4 5 6
7

MERS

to BAC

Horne Loan

Servicing?

A.
Q.

Yes. Okay. Exhibit MS. questions assignment under

5.
THOMAS: I'm going to object to any

regarding that's

Exhibit listed This

5.

This

is not the under section

in the Order

paragraph who the

B.

is an assignment to this,

regarding and it's not instruct Exhibit topics 5 as

8
9

borrowers regarding him not it's not

are not plaintiffs subject property,

so I would
regarding deposition

10 11 12
13 14

to answer

any questions

one of the authorized to the Court's MR. MR. MYERS: Order.

according

I would

join

with Ms. Thomas. reflect that any

KASED:

Let the record the witness

15 16 17
18

Counsel questions

has

instructed

not to answer

regarding

Exhibit

5.

BY MR. KASED: Q.
Mr. Isaacs, regarding case, when Exhibit 3, the assignment of the was

19 20 21 22 23
24 25
n.
'1\

mortgage in your I don't

in this presence recall. any

do you recall she signed

if the notary

this?

Q.

Do you have document?

specific

recollection

of signing

the

A.
Q.

No.
Mr. Isaacs, are you aware of the term robo-sign?

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Page MARSHALL ISAACS May 13, 2011

14

1
2 3 4 not one and

MS. of the

THOMAS: authorized Isaacs

I'm going to object.

topics in the Court

That is Order,

instruct

Mr.

not to answer. I would join.

MR. MYERS: BY MR. KASED:

5
6 7 8 9

Q.

To your of its

knowledge, affiliates

does ever

or has Bank engaged

of America

or any

in robo-signing? That's not one of Order.

I

MS. THOMAS: the authorized would instruct topics Mr.

Objection. underneath

the Court's

10
11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 Q. A.

Isaacs

not to answer. join.

MR. MYERS: BY MR. KASED: Q. Okay. Mr. Exhibit 6.

I would

Do you recognize

this document,

Isaacs? recognize it, but I can tell you what it is.

A.
Q.

I don't

Go ahead. It's And, the note so, would executed that by Eaman Shina. is secured by

A.
Q.

be the note which as Exhibit 4?

the mortgage

identified

A.
Q.

Yes. Turn your' attention only back to Exhibit 3 for a second. correct? the note to

You assigned The assignment which

the mortgage; "Together

is that with

states:

the same is collateral." a reference to the note in Exhibit 3?

So is there

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15

MARSHALL ISAACS
May 13, 2011 There Can is. read it to me? the note to which the same is

1
2 3 4 5
6

A.
Q.

you

A.

"Together

with

collateral." Q. Do you know if MERS note? MS. THOMAS: the topics instruct underneath Isaacs Objection. the Court That's not one of has any interest in that

promissory

7
8 9

Order.

I would

Mr.

not to answer. I would join.

10 11 12 13 BY MR. KASED: Q. Mr. Isaacs,

MR. MYERS:

if I told promissory

you that note,

MERS

had no interest is Exhibit

in

the Shinas' you agree

which

6, would note

14 15 16
17

that MERS

cannot

assign

the promissory

as you

did in Exhibit MS. THOMAS:

3?
Objection. by the Court's That's Order. not one of I

the topics instruct

authorized Isaacs

18
19 20 21 22 23

Mr.

not to answer. I would join. I would also

MR. MYERS: object on the basis

of speculation.

BY MR. KASED: Q. Okay. Exhibit 7. Can you tell me what that document

is titled,

Mr. Isaacs? Inc. Rules of Membership. you've surely seen this before;

24 25

A.
Q.

MERSCORP, And

as a VP of MERS,

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16

MARSHALL
May
1

13,

ISAACS 2011 correct? MS. membership Court's THOMAS: I'm going to object. authorized Mr. Isaacs Rules of

3
4 5 6

is not

a deposition

topic

by the not

Order.

I'm going

to instruct

to answer. MR. MYERS: I would join.

7
8 9 10

BY MR. KASED:
Q. Mr. Isaacs, can you turn to page page?

15 of thisr
3, under

which Rule 3,

would

be the second read that

Section

can you A. Q. Out loud

for me?

11
12 13 14

or to myself? record. 3 (a): Ou~ loud, Upon please. from the member, Systems, Inc. shall

For the "Section Mortgage promptly

A.

request

Electronic furnish

Registration

15 16 17 18 19
20 21 22 23

to the member

in accordance designating

with one or

procedures more

a corporate

resolution

officers

of such member officers Systems

selected

by such member

as certifying Registration to release HERS system

of Mortgage Inc.,

Electronic such mernber , (i), registered on the

to permit

the lien

of any mortgage

to such member. (ii), assign the lien when of any mortgage the member is also

naming

MERS

as the mortgager promissory

24 25

the current is registered

note-holder, system,

or if the mortgage is shown to be

on the MERS

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Page MARSHALL ISAACS May 13, 2011 1 2 3 4 securing system registered to the member. (iii), to foreclose loan upon the property on the MERS

17

any mortgage to such member.

registered

5
6
7

(iv), to take any to protect beneficial proceeding system that the interest

and all actions or the

necessary

of the member loan

owner

of a mortgage a loan

in any bankruptcy on the MERS to the member. as may be obligations loans, from the to a

8
9

regarding is shown

registered

to be registered actions

10 11 necessary

(v), to take such to fulfill

such member

servicing

12
13 14 15 16 17

to the beneficial including MERS mortgage

owner loans

of such mortgage that are removed

system

as a result

of the transfer

thereof

nonmember. (vi), to take action necessary finance, registered documents, refinancer and execute necessary all to loan

all documents amend or modify

18
19

any mortgage

on the MERS (vii),

system

to such member. made payable to MERS, and

20
21

endorse

checks

to the member payment system

that

are r-e i.ved by the member ce loan registered

22
23 24

on any mortgage that is shown where

on the MERS to the memberr Registration as a

to be registered Mortgage Electronic

and instances Systems Inc'r

25

designates

an officer

or a member

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Page MARSHALL ISAACS May 13, 2011

18

1
2 3

certifying described any

officer above,

of MERS

for

the

limited indemnify

purpose MERS agents and or

such member

shall

of its employees, against --

directors,

officers,

4
5 6 7 8 9 10 11 12 Q.

affiliates which may"

all loss,

liability

and expenses of any

"they taken

may sustain by such

as a result

and all actions Thank you.

certifying

officer."

Thank Now,

you very much. line of what you read, to a officers

in the third

starting "corporate

on section resolution

3, it specifically designating

refers

one or more

of such member, officers

selected

by such member,

as certifying

of MERS." Do you see that?

13 14
15 16 17 18 19 that's Mr.

A. Q.

Yes. Are you an officer MS. listed not of BAC Home Loan Servicing? That's not a topic instruct

THOMAS:

Objection. Order.

in the Court's to answer.

I would

Isaacs

MR. MYERS:

I join.

20
21 22

BY MR. KASED:
Q. Are you employed by BAC? Objection. history history You can depose with MERS. that you're to the Court's

MS. THOMAS: Mr. Isaacs on his

23
24 25

employment employment

There's allowed

no other to depose

him on, according

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Page

19

MARSHALL
May 13,

ISAACS
2011 Order. answer. MR. MYERS; I join. I'm going to instruct Mr. Isaacs not to

1
2 3

4
5 6 7 8 9

BY MR. KASED:

Q.

Mr.

Isaacs, that

do you

know of any authority corporate of MERS

in the MERS appointing for law

rules

authorizes officers

resolutions

certifying firms

to be attorneys members? That's I'm going

who work MS.

for the MERS THOMAS:

Objection. Order.

not one of to

10 11 12
13

the topics instruct

in the Court's Isaacs

Mr.

not to answer.
I join.

MR. MYERS: BY MR. KASED: Q. Mr. Isaacs, you just

14
15 16

read a very

specific

-- "although the MERS

limited rules."

powers

of certified

officers

within

17
18 19

Can you compare the corporate to take resolution

these

to those 2?

listed feel

in free

in Exhibit

And

your time. MR. MYERS: I'm going to object to the I'm not don't. made the

20 21
22 23 24 objection Mr. Isaacs question. sure

I think

it's vague

and ambiguous. I certainly already

the witness

understands.

MS. THOMAS: as to Exhibit not to answer

And we've

7 and we've

instructed with respect to

25

any questions

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Page MARSHALL May 13, 1 2 3 ISAACS 2011 Exhibit the 7 because Order Isaacs MR. answer it's not within as topics on. Are you instructing him not to that the topics listed to ln

20

Court's Mr.

you are allowed

depose

4
5 6

KASED:

my question? MS. THOMAS: Yes,

I am.

7
8 9 10 11 12

BY MR. KASED:

Q.

Exhibit document

8.

Mr.

Isaacs,

can you

tell me what

this

is entitled? Remarks and Testimony Inc., of R.K. Arnold, Before the

A.

It's

entitled,

President

and CEO

of MERSCORP,

Subcommittee House 2010.

on Housing Services

and Community Committee,

Opportunity November 18th,

13 14
15 16 17 18

Financial

Q.

Have

you

ever

seen

this document

before?

A.
Q.

I have Do you

not. know who R.K. Arnold is? and CEO of MERSCORP,

A.

According Inc.

to this,

he's president

19
20 21 22 23 Q.

Have No.

you

heard

of him before

today?

A.
Q.

Do you

know

the difference MR. MYERS:

between

MERS

and MERSCORP? not one of I would

Objection. in the Court's

That's

24 25

the topics instruct

authorized Isaacs

Order.

Mr.

not to answer.

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Page May

21

MARSHALL ISAACS 13t 2011 1

2 3 4 5 6

BY MR. KASED: Q.
Page 2 of Exhibit read that

8t

the second

and third paragraphs,

can you

for the record? clear in a mortgage document

A.

"One

thing

that

is always

is that

if the borrower can foreclose.

defaults

on his obligation, holds the mortgage Either the

the lender lean,

If MERS

7
8 9

foreclosures

can occur

in two ways:

MERS mortgage
records initiates action

interest

is reassigned holding

in the land lender the

to the lender the action

the note and the

10 11 12 13 14
15

on its own, of record MERS

or MERS initiates in the land

as the mortgagee To do this,

records.

relies

on specifically called certifying

designated officers, certifying member

employees to handle officer,

of its members, the foreclosure. one must

To be a MERS of the

be an officer

16 17 18
19 20 21

institution

who is familiar and who has passed Generally,

with the functions an examination are the same

to be performed, administered individuals was involved the servicer repository notes."

by MERS. who handle without as

these

the foreclosure The

if the lender remains is not a with

MERS.

loan.file MERS

it did before

MERS.

22
23

for mortgage

documents

or promissory

24
25

Q.

Thank

you. So on November 18th, 2010, the president of

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Page 22 MARSHALL ISAACS May 13, 2011 1

2 3 4 5 6 7 8 9

MERS testified under oath to Congress that to be a MERS certifying officer, one must be an officer of the who's familiar with the functions

member institution to be performed administered administered

and who has passed an examination Have you taken any examination

by MERS. by MERS?

MS. THOMAS:

Objection.

There is no -- the

Court Order does not authorize testimony on that topic. I would instruct Mr. Isaacs not to answer. MR. MYERS:
I

10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25

wound join.

And I would also this exhibit.

add that I believe you're misconstruing Page 42 specifically and extrapolates president

takes the testimony of Mr. Arnold

that as to how does one become a vice

I

and/or assistant secretary of MERS.

think

this is far outside the scope of what Judge Chabot's Order addresses. BY MR. KASED: Q. Mr. Arnold testified that, "The certifying officers are the same individuals who would handle the foreclosure if the lender was involved without MERS. The loan file remains with the servicer as it did before MERS.n Do you remember, when you executed the assignment in Exhibit 3, did you have the loan file? MR. MYERS: I'm going to object. This has

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Page 23 MARSHALL ISAACS May 13, 2011 1

2 3 4

been asked and answered. testified

Mr. Isaacs has already

that he has no recollection of this specific

file when he signed the assignment. THE WITNESS: MR. KASED: the question? MR. MYERS: answer the question. If you recall. If you can Do I answer? Is that a no? Can he answer

5
6 7
8

A.

I don't recall signing the assignment, so I don't know.

10 11 12 13 14 15 16 17 18 19 20 21
22

BY MR. KASED: Q. Page 3 of Exhibit 8, Mr. Isaacs, can you read the second paragraph into the record? A. "Earlier this year, when we became aware of acceleration in the foreclosure document processing,

we grew concerned that some certifying officers might have been pressured to perform their responsibilities in a manner inconsistent with our rules. When we did

not get the assurances that we thought were appropriate to keep this from happening, we suspended our relationships with those companies. When we discovered that some so-called robo-signers were MERS certifying officers, we suspended their authority until they could be retrained and retested. We are asking our members to

23 24
25

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Page MARSHALL May 13, 1 2 3 4 Q. ISAACS 2011 provide intend Thank us with to prevent you. And first two one more thing on page specific plans outlining in the how they

24

such actions

future."

13, just those

5
6

sentences. specific controls over who can be identified To be a MERS officer of

A.

"MERS has

7 8
9

by its members certifying the member and pass MERS.n

as a certifying one must have

officer. be a company

officer,

institution,

basic

kriowl.edqe

of ['1ERS by

10 11 12 13 14 15 16 17 18 19 20 21 22
23 24

a certified

examination

administered

Q.

And

I have

attempted

to ask you

if you are an officer passed your an counsel

of the member examination

institution, administered you is?

if you've by MERS,

which

has instructed MOM mortgage

not to answer.

Do you know what a

A.

A MOM?
MS. the topics Mr. Isaacs that THOMAS: Objection. That's not one of

the Court has to.

authorized

for Mr. Isaacs

to testify

I would

instruct

not to answer.

BY MR. KASED:
Q. Do you know what MS. a topic that's a MIN number is? MIN number Order. is not I would

THOMAS: authorized

Objection.

25

by the Court

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Page MARSHALL ISAACS May 13, 2011

25

1
2 3 4 5 6 7 8 9 10 11 12 13 14 15 16

instruct BY MR. KASED:

Mr.

Isaacs

not to answer.

Q.

Back

to Exhibit towards

4r

Mr. Isaacs.

Did you see the MIN

number

the top right?

A.
Q.

Yes. Do you have any idea number why that was not particular included 3? offhand. in the

identification assignment

of the mortgage, speculate, -Well, this.

Exhibit

A.

I can

only

so I don't

know

Probably

because

MR. MYERS: witness we're not to answer

I'm going If you

to instruct testify

the

cannot

here

for you to answer and if you don't Kased

honestlYr know

fully and one of his

completelYr the things instructions are routinely know

the answerr short

that Mr. to you,

stopped

of during

as is routinely
and that

-- as witnesses

17
18

advised,

is that if you don't

I don't

the answer

to a question, recall, are

knowr

I don't

19
20 21 22 23 24 25

rememberr answers.

I don't

generally

accepted

Mr. Kased, that

is that with? Yes.

one of the ground

rules

you are comfortable MR. KASED:

I believe

I told

Mr.

Isaacs

that if he didn't know.

know

an answer,

he could

answer

I don't

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Page 26 MARSHALL ISAACS

May 13, 1 2
3 4

2011
MR. MYERS: Fair enough.

A.

I don1t

know.

BY MR. KASED:

Q.

Okay.

Fair

enough. Do you MS. know the purpose Objection. of the MIN MIN numbers Order. number? are I would

5
6 7 not a topic instruct BY l'1R. KASED: Q. MrIsaacs,

THOMAS:

authorized Isaacs

by the Court1s

8
9

Mr.

not to answer.

10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25

do you MS.

know what

a milestone

report

is?

THOMAS: authorized Mr.

Objection.

Milestone Order.

reports
I

is not would

a topic instruct

by the Court's not to answer.

Isaacs

BY MR. KASED: Q. Mr. Isaacs, on page

16 of Exhibit

8, can you

just

read

the first

two

sentences? apparent were to us that relying foreclosures on lost the

A.

In 2005, undertaken note

it became

in Florida

excessively forbidding

affidavits. note

MERS adopted affidavits of MERS

a rule

use of lost done

when

foreclosures That

were was

in the name

in Florida.

rule

extended today. Q. That's

nationally MERS believes That's

in 2006, --

and is still

in effect

it.

all.

A.

I'm sorry.

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Page 27 MARSHALL ISAACS May 13, 2011

1 2 3 4

Q.

Thank

you.

I appreciate After reading

that. those statements, your Mr. Isaacs,

doesn't

that completely in Exhibit 2?

go against

corporate

resolution
A. Q.

5
6 7

I don't Okay.

understand In your

the question. resolution, you were is that

corporate

authorized correct?
A.

to execute

lost note affidavits;

8 9

It does

state that those can be signed, Yet the president oath that MERS

yes. to

10
11

Q.

All right. Congress forbidding

of MERS testified adopted a rule

under

12
13

the use of lost note affidavits. MS. THOMAS: Objection. Lost note by the Court's

14
15 16 17 18 19 20 21 22 23 24
25

affidavits Order. questions

is not a subject
Mr.

authorized Isaacs

I would instruct regarding

not to answer

lost note affidavits.

I

MR. MYERS:
BY MR. KASED: Q.

would

join.

Okay. read,

Exhibit

9.

I know that's

a little difficult from the

to

Mr. Isaacs.

This was a list obtained

t"lERSv.Jebsite that lists all the active tJ!ERS members. I've printed to read, anywhere? the as, and I know it's a little bit hard Associates

but do you see the name Orlans

A.

I do not see it.

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Page 28

MARSHALL
May 1 2 3 4 5
6

ISAACS
2011 Exhibit dated 10. Mr. Isaacs, 2010. this is the oversight Have you ever seen report this

13,

Q.

November

16,

document? A. Q. No. Were you aware that Congress became aware that testified

employees that they

at Bank signed

of America and,

and others

had

7 8
9

in some cases, claiming

backdated knowledge? is not a I'm going to

thousands

of documents MS. THOMAS: by

personal This

Objection.

10 11 12

topic

authorized Mr.

the Court's

Order.

instruct

Isaacs MYERS:

not to answer. I join. I also would object

MR. based this,

13 14
15

on the witness's so lack

lack of knowledge

regarding

of foundation.

BY MR. KASED: Q. Mr. Isaacs, page 4 of exhibit for 10, can you read the

16 17
18 19 20

first

paragraph

the record? I'm going of leeway to object to the -into It's

MR. MYERS: we've given you a lot

on the reading of the record. The

the record. been aduitted

Exhibit as part first

10 is a part

21
22

of the deposition. paragraph, speak as well

contents

of it, both remaining you have I'm going

the

as the And if

pages

in this,

for themselves.

a specific to object

question

regarding

-- actually, this because

to anything

regarding

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Page 29 MARSHALL ISAACS May 13, 2011

1
2

the witness he has of the

has indicated

that he's never seen this, and it's outside

no knowledge scope

of this document, Order.

3 4 5
6

of Judge Chabot's Okay.

MR. KASED:
record.

I'll read it for the

"In the fall of 2010, reports surface alleging that companies servicing

began

to

7 8
9

$6.4 trillion bypassed

in American

mortgages

may have been

legally"

-- "may have" required

-- excuse me -- "may steps to foreclose on a

10 11 12 13 14 15 16 17 18
19

have bypassed home.

legally

Employees

or contractors

of Bank of America, loan servicers backdated, knowledge of testified

GMAC mortgage

and other major

that they signed thousands facts

and, in some cases claiming

of documents

personal

about mortgages

that they did not actually

know

to be true." BY MR. KASED:

Q.

Okay. Michigan holds

Exhibit Court

11.

Mr. Isaacs, case

Exhibit involving

11 is a recent MERS, and it in

of Appeals

20
21

that,

"MERS cannot foreclose

by advertisement in Michigan

Michigan, by HERS"

and that any MERS foreclosures -- "by advertisement Are you familiar

22 23 24 25

is void as an issue." with this case at all?

A.
Q.

Yes. Have you read the opinion?

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Page 30
MARSHALL ISAACS

May 13, 2011

1 2 3 4 5

A.
Q.

I have. Do you recall anywhere in the opinion where it states

that MERS has the authority to assign a mortgage? MR. MYERS: Objection. This recent case is

not one of the topics authorized by the Court's Order. I would instruct Mr. Isaacs not to answer.

7
8 9

BY MR. KASED:
Q. Would you agree that the courtr in this case, ruled

that MERS has no interest in the note or the debt? MS. THOMAS: Objection. The recent I

10 11 12 13

settlement opinion is outside of the Court's order. would object -- I would instruct Mr. Isaacs not to answer.

14
15 16 17 18 19 20 21 22 23 24 25

BY MR. KASED:
Q. Exhibit 12. Have you ever seen this document before?

A.
Q.

No.
This is a Consent Order entered into recently with MERS and various Federal regulators. About seven

lines down, on page 2, and I'll read it for the record: "The agencies have identified certain

deficiencies and unsafe or unsound practices by MERS and MERSCORP that present financial operational compliance, legal and reputational risk to MERSCORP and MERS and to the participating members. Members

are institutions that use MERSCORP and MERS services

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Page

31

MARSHALL ISAACS
May 1 2 3 4 5
6 7

13, 2011 and have agreed to abide by MERSCORP's rules of

membership.

I,
Now, if we go to the next officers. you want me to read it for the page, under

Article

7, certifying Mr. Myers,

record? MR. MR. MERS shall MYERS: KASED: That's "In the all right. of this order,

8
9

60 days a plan

prepare

and submit

to the deputy processes with respect to

10 11

comptroller applicable examined limited

to strengthen to MERS

its governance officers shall

certifying The plan

12
13

members. to:

include,

but not be

(a), policies individuals

and processes MERS

to designate certifying act in such

14
15 16 17 18
19

or certify officers, capacity_

as authorized

and

that

only such

individuals

(b), policies, track the identity and

processes

and resources of MERS

to

and activities their

certifying the rules

officers

to ensure

compliance

with

20 21 22 23
24

and related

requirements. (cl, policies, processes certifying and resources officers to

register acting

third-party

MERS

who are

for examined (dl,

members. processes and resources to

policies,

25

ensure

the

adequacy

and appropriateness

of training

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Page 32 MARSHALL ISAACS May 13, 2011

1

for certifying

officers. processes, comply and resources with the MERS 2011-01." and and third a to

2
3

(e), policies, ensure that examined

members

4
5 6 7 8 9

Membership

Rule 8 and MERS Announcement And, "(f), policies, that examined and accurately designated processes members

resources parties specific

to ensure can quickly individual

determine

to act as authorized

MERS certifying

officers." can you tell me about how many

10 11 12 13
14

Mr. Isaacs, of these assignments

you executed? Objection. The Court only mortgage the

MS. THOMAS: au t ho r i zes his testimony dated January 3rd, 2010.

as to the assignment Anything

else is outside

15
16

scope of the Court's

Order.

I am going to instruct

Mr. Isaacs not to answer. MR. MYERS: BY MR. KASED:

Q.

17 18
19

I would

join.

Mr. Isaacs,

do you know who William who signed

Roughten

is?

20 21 22
23 24 25

A.

Hets the gentleman resolution,

the corporate

I believe.

Q. A.
Q.

Do you know who he is?

No.

Do you know who Steven

No.

Rise is?

A.

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Page 34
MARSHALL ISAACS

May 1
2

13, A. Q.

2011 We do not When you send them to MERS. this assignment, do you

prepared

and executed

3 4 5
6 7

recall

who

instructed would

you to do it? have corne from the BAC.

A. Q.

The And

instructions the assignment

was done

so that BAC could in their own name

foreclose rather

on plaintiff's in MER8'

property

than

name;

correct?

8 9 10 11 12 13 14 15

A.
Q. A.

I -- yes, Do you I don't As far

that

is correct. type of mortgage question. rate, fixed rate, that's fine. this was?

know what understand

your

Q.

as an adjustable And

conventional. A. Q. No. Not

if you don't of my head, executed

know, no.

off the top was

So the BAC;

assignment

under

instruction

from

correct?

16
17 18 19 20 21

A.
Q.

Yes. Does the phrase, Clues System, mean anything Clues Order. to you? is to

MS. THOMAS: outside instruct BY MR. Y~SED: Q. Do you know what the scope Mr.

Objection.

System

of the Court's

I'm going

Isaacs

not to answer.

22 23
24 25

the term

soft market

means? of a Order.

MS. THOMAS: soft market I would is outside Mr.

Objection. the scope

The topic of the Court's

instruct

Isaacs

not to answer.

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Page MARSHALL ISAACS May 13, 2011 1 2 BY MR. KASED: Q. Do you to? MS. is outside instruct BY MR. KASED: Q. Mr. Isaacs, going back to the mortgage, 4, can you tell which I the THOMAS: scope Objection. Fast and easy Order. loan know what the term fast and easy loan refers

35

3
4 5 6 7 8
9

of the Court's not to answer.

I would

Mr.

Isaacs

believe was

is Exhibit

me who the lender

10
11

on this

mortgage? Bank. the mortgagee?

A.
Q.

Countrywide And who MERS. And That don't then was

12 13
14 15 16

A.
Q.

Countrywide be around

merged 2008.

with

Bank

of America. or you

would know?

Is that

correct

17 18
19 20

A.
Q.

I don't And then

know. this mortgage was assigned about three years

after

the mortgage two years. any

was executed;

correct?

A.
Q.

About

21
22 23 24 25

Do you have scheduled

idea when the

foreclosure

was

for MS.

in this case? THOMAS: Objection. Foreclosure is -- or

not -- is outside outside the Court's

the scope Order.

of the deposition I would instruct

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Page MARSHALL ISAACS May 13, 2011 1 2 3 4 5

6

36

Mr. BY MR. Q.

Isaacs

not

to answer.

KASEO: know about officer how many documents you've handled as

Do you a MERS

since

you became

a MERS

officer? outside the

MS. THOMAS: scope Mr. BY MR. Q. of the Court's

Objection. Order. I would

That's

instruct

7 8
9

Isaacs

not to answer.

KASED: back to the assignment, as an officer of MEHS, are

Going and

10 11 12 13

as the attorney the attorney

who prepared

the assignment, on this

you both

and the client

assignment?

A.
Q. A. Q.

I'm not the client, But you're an officer

no. of the client? as an officer officers for MERS. there are ln

14
15
16 17 18 19 20 21 22

I have Do you the

signing

authority

know how many for MERS? MS. THOMAS:

certifying

country

Objection.

That's

outside

the

scope Mr.

of the Court's

Order.

I am going

to instruct

Isaacs

not to answer.

BY r"1R_ K.Zl,.SED: Q. Have you ever heard the saying, "the mortgage follows

23 24
25

the note"? MS. THOMAS: scope of the Court's Objection. I would It's outside instruct the

Order.

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Page 37 MARSHALL ISAACS May 13, 2011 1 2

3

Mr. Isaacs not to answer. BY MR. KASED: Q. By reading the mortgage, would you say that since the mortgagee is one entity and the lender is another

4
5 6 7 8

entity, would you agree that the mortgage and the note, in this case, have been split? MS. THOMAS: Objection. That's outside the

scope of the Court's Order. Mr. Isaacs not to answer. BY MR. KASED: Q.

I would instruct

9 10 11 12 13 14 15 16 17 18 19 20 21
22 23

Do you know if MERS has any employees? MS. THOMAS: Objection. That's outside the

scope of the Court's order. Mr. Isaacs not to answer. MR. MYERS:

I would instruct

Counsel, I would request that

you stick to the four topics that Judge Chabot provided as the framework for this depos t We've just experienced a lengthy series of questions that are clearly, in my opinion, outside the scope, and if you have no desire to comply with Judge Chabot's Order, let us know at this point, because none of the questions you're asking right now comply with the framework. BY MR. KASED: Q. Exhibits 13 through IS, Mr. Isaacs. I don't have any

24
25

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Page 38 MARSHALL ISAACS May 13, 2011 1 2

3 4 5
6 7

questions

regarding these exhibits,

I just went to

know if you've ever seen these documents before. A. Q. I have not seen any of these documents before. Okay. Thank you. MR. KASED: Irm just about finished. I

just want the record to reflect that Mr. Isaacs is not a party to this lawsuit, andr knowledge, to the best of my yet he was

8
9

not a client of Ms. Thomasr

instructed by Ms. Thomas not to answer a majority of my questions. Thatrs all I have, Mr. Isaacs. MR. MYERS: The only thing I would add on

10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25

that is that, to the extent I did not concur in every objection, to make the record clear, that I did

that I do concur in Ms. Thomas's objection, and that the record does reflect that at no point did I ever inform Mr. Isaacs that he should answer any of those questions. I have no further follow-up questions or anything. MS. THOMAS; Mr. Isaacs. MR. KASED: THE WITNESS: Thank you, Slr. Thank you. I have no questions for

(The deposition was concluded at 2:57 p.m.

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Page 39 MARSHALL ISAACS May 13t 2011 1 2 3

4

Signature

of the witness was not requested by counsel parties hereto.}

for the respective

5
6 7

8
9

10 11

12
13 14 15 16 17 18 19 20 21 22
23

24 25

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CERTIFICATE STATE OF MICHIGAN SS COUNTY OF OAKLAND

OF NOTARY

I, ALISON deposition hereinbefore questions

C. MATTHES,

certify

that this

was taken before me on the date set forth; that the foregoing by me

and answers were recorded

stenographically transcription;

and reduced to computer that this is a true, full and of my stenographic notes so

correct transcript

taken; and that I am not related to, nor of counsel to, either party nor interested this cause. in the event of

ALISON C. MATTHES, Notary Public,

CSR-6266

Oakland County, Michigan My Commission expires: May 1, 2017

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