Fixing the Mortgage Mess: The Game-changing Implications of Bain v. MERS + Virulent Worm Destroys U.S. Housing Market by Ellen Brown

by Ellen Brown
Featured Writer
Dandelion Salad
webofdebt.com
August 22, 2012

Picket Fence House, Redlands, CA 6-2012

Image by inkknife_2000 via Flickr

Two landmark developments on August 16th give momentum to the growing interest of cities and counties in addressing the mortgage crisis using eminent domain:

(1) The Washington State Supreme Court held in Bain v. MERS, et al., that an electronic database called Mortgage Electronic Registration Systems (MERS) is not a “beneficiary” entitled to foreclose under a deed of trust; and

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Why the AGs Must Not Settle: Robo-signing Is Just the Tip of the Iceberg by Ellen Brown

by Ellen Brown
Featured Writer
Dandelion Salad
webofdebt.com
February 4, 2012

A foreclosure settlement between five major banks guilty of “robo-signing” and the attorneys general of the 50 states is pending for Monday, February 6th; but it is still not clear if all the AGs will sign. California was to get over half of the $25 billion in settlement money, and California AG Kamala Harris has withstood pressure to settle.

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Shedding Light on the Shadow Banking System by Ellen Brown

by Ellen Brown
Featured Writer
Dandelion Salad
webofdebt.com
January 25, 2012

The Wall Street Journal reported on January 19th that the Obama Administration was pushing heavily to get the 50 state attorneys general to agree to a settlement with five major banks in the “robo-signing” scandal. The scandal involves employees signing names not their own, under titles they did not really have, attesting to the veracity of documents they had not really reviewed. Investigation reveals that it did not just happen occasionally but was an industry-wide practice, dating back to the late 1990s; and that it may have clouded the titles of millions of homes. If the settlement is agreed to, it will let Wall Street bankers off the hook for crimes that would land the rest of us in jail – fraud, forgery, securities violations and tax evasion.

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