Source: https://www.scribd.com/document/155363550/Series-1-MERS-part-2
Timestamp: 2017-01-22 17:36:28
Document Index: 470066552

Matched Legal Cases: ['art 2', 'art 2', 'art 1', 'art 3', 'art 2', 'art 3', 'art 1', 'art 1']

Series 1: MERS part 2 | Promissory Note
BrowseInterestsBiography & MemoirBusiness & LeadershipFiction & LiteraturePolitics & EconomyHealth & WellnessSociety & CultureHappiness & Self-HelpMystery, Thriller & CrimeHistoryYoung AdultBrowse byBooksAudiobooksArticlesSheet MusicBrowse allUploadSign inJoinThe Iceberg called MERS (Mortgage Electronic Registration Systems, Inc.) Part 2 This article is a continuation of Part 1 of the Iceberg called MERS. In looking below the waterline and upon examination of what MERS actually is, we find that that MERS actually is a system of records. These records and milestone reports are used to identify and the track the owner and servicers of the eNotes that were created electronically, transferred electronically and stored electronically hence the name the paperless mortgage. So this eMortgage is actually a copy of the tangible contract that evidences an alternative means of collection when there is a presumption of deficiency on the intangible obligation which is the promise to pay. In the electronic world and its domain, MERS dominates the intangible transferable record world by claiming control of the transferable record, whereas in the tangible world they would need Possession of the wet ink Tangible Promissory Note. In the electronic world MERS claims Authoritative Copy of the eNote, while in the tangible world they would need the Original Tangible Promissory Note with the wet ink signature. In the electronic world one would claim that MERS has Transfer of Control while here on earth in the tangible world one would claim that they have an indorsement. MERS exists solely within the definitions of the of the security instrument. MERS is not a party to the Tangible Promissory Note and is conferred no rights. MERS has not funded any money, and MERS is not entitled to receive any economic benefits pertaining to the collection of any monies collected by the Servicer. MERS is not a party to the Tangible Promissory Note and is conferred no rights. While MERS can assign its interest of an eMortgage on which it is named, MERS albeit with no rights to the Intangible Obligation of the Tangible Promissory Note. While MERS claims to have an agency relationship with the original lender, this is all well and good, however; upon bifurcation of the tangible promissory note and the intangible payment obligation, the agency relationship of subsequent parties does not exist. In light of what goes on with what is claimed with an Assignment of Mortgage, or Assignment of Deed of Trust, there are a few very important questions that are never asked but need to be addressed, and that is: What is the purpose of an Assignment? Is that document eligible to be recorded? The purpose of an Assignment of Mortgage or Deed of Trust is to memorialize the sale of the Tangible Promissory Note. However, that is not what is actually happening. The Intangible (888) 491 – 3741 info@mortgagecomplianceinvestigators.com
Payment Obligation has been ripped out of the Tangible Promissory Note years prior to the purported Assignment of Mortgage or Deed of Trust. Usually, it was done shortly after the signing of the closing documents with the homeowner within days or weeks. However MERS is being used in an attempt to bring the parts of the entire instrument together. Many times the verbiage on the document that purports to be an Assignment of Mortgage includes the words “Together with the note or notes therein described or referred to, the money due and to become due there on with interest, and all rights accrued or to accrue under said Deed of Trust/Mortgage” What note is being talked about? Are they talking about the eNote? It is not clearly stated what is meant. Is the money due?? How did they obtain the right to the money? Are All Rights accrued or to accrue? Their verbiage is attempting to lure you into a false sense of understanding using fancy word crafting. As MERS operates in the realm of intangible records, and not in the earthly world of Tangible written documents, they appear and disappear as if they never existed. Everything that we have been discussing leads back to title: Which is the union of all elements constituting the “Legal Right “ to Control and dispose of Property. It is not about ownership, it is about rights acquired. It is the “Legal Evidence “ of a person’s ownership (interest) in the property. We will go over that in part 3 of this series of MERS Respectfully, Joseph Esquivel Mortgage Compliance Investigators Copyrighted© 2013
Sign up to vote on this titleUsefulNot usefulSeries 1: MERS part 2 by Mortgage Compliance InvestigatorsEmbedDescriptionHere is the second installment of Mr. Esquivel's neighborhood! This is follow up from the first article on MERS; there will be one final installment, next week for everyone so stay tuned!Here is the second installment of Mr. Esquivel's neighborhood! This is follow up from the first article on MERS; there will be one final installment, next week for everyone so stay tuned! Interests: Types, ResearchRead on Scribd mobile: iPhone, iPad and Android.Copyright: Attribution Non-Commercial (BY-NC)Flag for inappropriate contentShow moreShow less
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