MERS Seattle 195 land registry audit fraud proven – see link
The Washington State Supreme Court’s 2012 decision in Bain v. Metropolitan Mortgage Group found that MERS violated state law by foreclosing on homeowners on behalf of a lender. The court ruled that MERS is not a “lawful beneficiary” because it never held the promissory notes.
In every one of the 195 mortgage assignments reviewed by McDonnell Property Analytics, MERS attempted to transfer legal interests in the mortgage, which the Washington Supreme Court says it does not hold, to another entity.
MERS changed the language it uses in Washington — calling itself the “nominee for the lender” rather than the beneficiary — but not its practice. In other words, the changes are only semantic. “Regardless of the artful wording,” the audit states, “if the assignments serve the same purpose as before, the problem remains.” The audit uses the Latin phrase nemo dat quod non habet, “No one can give that which he does not have.”
//blogs.reuters.com/alison-frankel/2014/12/04/those-non-random-appellate-panels-study-finds-theyre-almost-everywhere/
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