The hits are coming fast and furiously. Major Wall Street mortgage lenders could soon be falling like dominos – and looking again for handouts.

Read more here –

32 Responses

  1. Start the creation of the state owned banking industry with a Joint venture of the private sector along with Ending the Federal Reserve and rolling those assets and the like into the hands of the people through their congress . This can have a Multiple range of goals , health care can be bonded by the auctions the state have and the health care beneficiary be rewarded for good health practice like they do when they have a good driving record , and these accruing accounts be part of a states bonding portfolio .
    We have got to get a hold of our Monetary Policy and take it away from the Independent Board of Governors , they are hamstrung with too many Mutli-nationalists with goals that don’t reflect the US citizens best Interests , so its time to de-fund these interest and the only way to do it is by controlling the monetary policy , and the state owned banking industry can be a vital management industry for this .

  2. I LOVE the concept of a publicly owned bank using interest earned in place of taxes. What a winner!

  3. I’m 76 and I can’t think of a better gift to give to my children and grand childern that they would someday be free of the Federal Reserve banking system and the IRS. This article is just another one by Ellen showing how we are enslaved to the Our Monetary system.

  4. The pressure must start from the people being foreclosed or that have been evicted, thus it’s paramount this information is disseminated. Enough people, with the passion and determination generated by the desire to keep or reposes their homes, might just leave banks with not enough time or ways to get the upper hand again.
    If only little pressure is applied, then this might just end up being tied up as a bureaucratic hick up, like all other financial and corporate abuses.

  5. More Wall Street bankruptcies? That would be great! Perhaps those people can someday return to earning money the old fashioned way – earning it.

  6. pay the banks back as they have done to america—screw them by bankrupting them.

  7. […] The State of Florida is actively pursuing a risky investment strategy of the Florida Pension Funds and an adult needs to step in to this mess and say “STOP” until the true nature of the Mortgage Backed Securities (MBS) scandal/fiasco that is SWEEPING the Nation a…. […]

  8. Anyone needing some investigative information regarding the following lenders, brokers, servicers, foreclosure mills, Title Companies, officers and notaries:
    Goldman Sachs
    Litton Loan Servicing
    Fremont Reorganizing
    LPS Title Company
    The Wolf Firm, A Law Corp
    Marti Noriega
    Debra Lyman
    John Crandall
    Brenda Mckinzy
    Leigh Blackwell
    Daniella Marie Garrett
    Melissa Bell
    Go to the link below:

  9. So what if State own their own banks? Credit (debt) as money means that all money exists for some period of time (loan duration).

    A person get a credit of $10 million for 1 year means that $10 million will circulate for 1 year. End of loan duration? That money will be gone.

    Of course, interest amount is important. Low interest is much better than high interest. But dealing with interest rate alone can not solve much monetary problem, isn’t it??

    We need money that exist permanently in the system without debt.

  10. Alwie, some believe that the collapse of fiat currency was built into Basel II, and that the banking deregulation over the past 20 years just sped up the timeframe.. the reason for this view is that our money system uses fractional reserve creation, allowing multiple claims on underlying real assets, and also allowing governments to accumulate far more debt and spending than they otherwise could.

    The fractional reserse system is good in that it allows far more money creation, economic expansion, research and development, learning, etc, all the good things that money can produce, than otherwise would be possible. The downside of fractional reserve lending is that the bust is mathematically built into the system, it is inevitable, and is often accompanied by social upheaval, strife, revolution, friction between nations, and war.

    To produce a better system, you would need the good, the ability to have a large money supply available to everyone as needed, to accomodate social growth (and taking care to avoid inflation/ more money than goods), but remove the possibility for the bust, remove the ponzi aspects which involve multiple claims to underlying real assets.

  11. If judges repeatedly failed to enforce rules of evidence in their courts, e.g. chain of title, these judges should be removed from the bench.

    A fish rots from the head.

    Is anyone even trying to fix the system?

  12. Guess I should have ggogled before commenting!

    Corrupt judges help U.S. banks steal homes

  13. Read the NakedCapitalism article!

    It’s another case of REGULATORY CAPTURE!

    The criminals have literally taken over the courts, lock, stock & barrel, with the help of the judges!

  14. […] By Ellen Brown – BLN Contributing Writer […]

  15. Wow, you guys are really getting screwed bad! Wasn’t Bush II appointed by the Florida courts the first time ’round?

    It’s rather incredible how thoroughly corrupt the U.S. and Canada are, considering we habitually pretent that we’re not. Just because normal people can’t take part in the corruption – like they do in countries we like to think of as more corrupt – doesn’t mean we aren’t effected by it in everything we do.

    It’s an important aspect of transitional fascism, I guess. The U.S. is ripe for a good counter-revolution before the tanks roll into town.

    Sounds like a perfect time to go Henry George, where land ownership really isn’t a big deal. Or better yet, declare a Jubilee and all these problems vanish, then go Henry George so they don’t come back.

  16. _______________________________________

    I am inviting you today to

    Vote for Your Economy

    When was the last time you were given that opportunity?

    We don’t intend to replace the prevalent system but to expend the number of your options.

    We will add a significant amount of jobs, income and investment.

    This is the only election in which the law of the majority is not binding on the minority.

    If you don’t participate you are still be making a choice:
    the choice of relying exclusively on the prevalent system.

    Vote Now for the Credit Free, Free Market Economy

    • but I don’t want a free market. I want to be free myself, and let the market exist in servitude to society.

      Besides, free markets are a myth. First of all, they always require heavy government legislation and beaurocracy to enforce them (monopoly and union busting – free markets are directly opposed to laisse faire). Second, free markets assume that it is possible to reach 100% efficiency, which is contrary to the laws of thermodynamics, reason, and common sence. Enter the teory of Second Best. Simple description on wikipedia:

      Free market economics operates on the assumption that the closer you can get to 100% effiency – to total freedom – the better the system will function. The second best theory explains how, if something is out of balance somewhere (as will always happen) then to try to force it all back to perfect efficiency will be detrimental. Instead, you have to compensate elsewhere to re-balance the system.

      That’s why when free markets were actually attempted in the mid 1800s (they’ve only pretended since then) the result was a system of complex and hefty import tarrifs, super-powerful monopolies, and, ultimately, fascism.

      Read The Great Transformation, Karl Polanyi. If you can endorse free markets after that you either failed to understand it, or you’re evil.

      It’s cool to try to create alternative systems, though.

  17. Here’s a couple of really good explanations of what caused this foreclosure mess

  18. This certainly looks like an interesting site, ties in nicely with my blogs, but your on a higher level

  19. […] mortgage squatters are growing in number in the US. This is even before it was discovered that “foreclosure mills” fabricated documents to seize peoples’ homes. Some of those mills do not even hold legal […]

  20. omg, discovering all of this and all your works is certainly mind boggling. Am sure glad I found your work via and dug in deeper into the rest of your work. Thanks for such amazing reporting.

  21. Did my previous post work?




    Mortgage Electronic Registration Systems, Inc. (“MERS”) is a proper party that can lawfully foreclose as the mortgagee and note-holder of a mortgage loan. MERS Membership Rule 8 provides required guidelines that must be followed when MERS is the foreclosing entity. Please click here to access the Rules of Membership, and reference the Rule 8 requirements.

    here =

    This downloads the file RULES(June2009).pdf to your computer.

    Interesting things the the June 2009 rules regarding REGISTRATION, which starts on page 8 and FORECLOSURE, which start on page 25.


    RULE 2


    Section 5. (a) Each Member, at its own expense, shall cause Mortgage Electronic Registration Systems, Inc., to appear in the appropriate public records as the mortgagee of record with respect to each mortgage loan that the Member registers on the MERS® System. Mortgage Electronic Registration Systems, Inc. is a wholly owned subsidiary of MERS created for the purpose of serving
    as the mortgagee of record in the appropriate public records. The Member shall monitor the public records to verify that it has complied with the preceding sentence and shall maintain an adequate quality assurance program to ensure that its verification procedures are effective. The Member hereby warrants to MERS that either (i) an appropriate mortgage, or deed of trust, or other such instrument as may be required under applicable state law, naming Mortgage Electronic Registration Systems, Inc. as
    mortgagee, or (ii) an appropriate assignment of mortgage, or assignment of deed of trust, or other such instrument as may be required under applicable state law, naming Mortgage Electronic Registration Systems, Inc. as mortgagee, has been or as soon as practicable shall be, properly prepared and delivered to the appropriate recording office and the Member shall promptly
    register on the MERS® System the date on which such instrument was delivered. As soon as practicable, the Member shall register on the MERS® System the specific recordation information provided by the custodian of public records which evidences that Mortgage Electronic Registration Systems, Inc. is mortgagee of record with respect to such mortgage loan. Upon the Member’s
    becoming aware of any discrepancy between the information shown on the MERS® System and the information in the public records, the Member shall promptly correct the information on the MERS(r) System.

    Section 5. (b) At or prior to the time a Member registers a mortgage loan on the MERS® System, such Member shall provide evidence reasonably satisfactory to MERS demonstrating that Mortgage Electronic Registration Systems, Inc. is, or as soon as practicable shall be, properly recorded as mortgagee of record in the appropriate public records with respect to such mortgage

    Interpretation: MERS members are supposed to deliver mortgage & note documents to the “appropriate recording office” or the “custodian of public records”. And this must be done at the member’s expense. I thought MERS was billing itself as a cheaper, simpler and better way for the benefit of natural persons taking on mortgages to buy houses. Yet the above clearly states that MERS is duplicating the “appropriate recording office”.

    Hmm, I wonder how many times this was done?

    … to be continued …

  23. To all … start exploring & downloading

  24. From what I have read and hopefully understood …

    Regarding the question of depositions.

    Since MERS apparently has and never had any “employees”, it is very difficult to get depositions from the non-existent employees. There were “officers”, but they were not employees. Go figure.

    However, there were, and perhaps still are, employees of the loan originators, the companies that gave mortgages to mirror foggers. I have not seen any depositions from such persons on the web. Perhaps this is fertile ground …

    In particular, I am fascinated by the question of the elusive wet-ink mortgages and notes. Who know what intriguing stories the ex-employees have to tell.

  25. How is this going to play out for borrowers in good standing who may sell there home to a buyer looking to purchase with a new mortgage. What makes the title cleaner in a regular sale and purchase in comparison to the sale and purchase of a foreclosed on home that is being sold by the bank?

  26. […] mortgage squatters are growing in number in the US. This is even before it was discovered that “foreclosure mills” fabricated documents to seize peoples’ homes. Some of those mills do not even hold legal […]

  27. […] squatters are growing in number in the US.  This is even before it was discovered that “foreclosure mills” fabricated documents to seize peoples’ homes. Some of those mills do not even hold legal […]

  28. […] abusivi) stanno aumentando negli Stati Uniti. Questo persino prima che venisse scoperto che “le fabbriche di pignoramento” producevano documenti per impossessarsi delle case della gente. Alcune di quelle fabbriche non […]

  29. […] mortgage squatters are growing in number in the US. This is even before it was discovered that “foreclosure mills” fabricated documents to seize peoples’ homes. Some of those mills do not even hold legal […]

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: