AN “UP-TO-THREE-YEAR” PRISON SENTENCE DOESN’T JUSTIFY THE DAMAGE CAUSED BY ECONOMIC TERRORISM

[MERS’s convenient mouthpiece] and Hank Paulson, who allegedly reminded Congress that if they didn’t bail out the banks in 2009 “we might have to declare martial law”) and not just in the wake of some epiphany about robosigning resulting in a hand slap.  What Lorraine Brown admitted to was being involved in a million documents being suspected of forgery and robosigning. That’s what she “admitted to”.

I believe the damage count is into the tens of millions, especially if you live in a deed of trust state!  What she agreed to in Missouri (even after pleading out on the federal level in Florida … another hand slap) doesn’t justify the economic damage that her firm, DOCX, created when it launched an avalanche of paperwork into the land records of every county in America on behalf of MERS and its member-subscriber banks, servicers and third-party document foreclosure mills.

It has become apparent that we can hold these document manufacturers criminally accountable.

That being said, good luck with understaffed county district attorney’s offices doing anything about it.  Last October, I was in a meeting with a county DA who told me he didn’t have the resources in his white collar division to prosecute all of these wrongful foreclosures and robosigning that preceded them.  I pointed out to him that it only takes one prosecution to send a message.  If each of the over 3,000 counties prosecuted just ONE robosigning case and took down one major player … one foreclosure mill attorney … one robosignor … a handful of notaries who didn’t actually witness the signature of the person signing the document … we could imprison over 10,000 people and actually “send a message”.

What do you think that a notary or a robosignor is going to tell a grand jury about what they know about a document manufacturing plant like DOCX?   They’re going to sing like canaries to save their own asses … that’s what! This is what the banks are afraid of. The banks don’t want any of this getting in front of a grand jury, because the common man is affected and reads the newspapers.  The common man watches the continued blight in neighborhoods around him. The common man hears horror stories of people getting tossed out of their homes. The common man is just now starting to wake up to the reality that foreclosures are not only affecting those behind in their payments but also the property values of that very same “common man”.

So in lieu of prison terms, the banks set out to do what I call “damage control”.  What is going on in the Oregon media, thanks to MERS mouthpieces like Housing Wire’s Kerri Panchuk (who calls herself a reporter), amounts to nothing more than economic terrorism.

Do you think that’s ever going to get prosecuted (even in light of Multnomah County’s decision to go after MERS while the Oregon Supreme Court decides the “beneficial” fate of the private electronic database)?  Let’s extrapolate the potential damage for the moment to see exactly how much economic terrorism has occurred in the land records since 1999 …

You have at least 28-million reconveyances and satisfactions of mortgage that MERS and its agents have admitted they’ve filed in real property records.  These reconveyances and releases of lien may have been signed by robosignors too!  People with no personal knowledge of any of the stuff they’ve attested to. How do they know you’re loan has been paid off?  They don’t!  They’re sitting in some signing room in Montana or Florida or Texas or …    They might have a computer screen handy to read what alleged figures might be possible; oh, wait, isn’t that hearsay?  Where did they get those figures from?  How do we know the loans weren’t paid off ab initio?  How do we know we’re paying the right lender?  How do we know we have clear title?

On average, it will cost the average homeowner $15,000 in legal fees to quiet title to their property (provided the banks don’t jump in and attempt to file motions to dismiss instead of answering the bloody lawsuit like they’re theoretically supposed to) and someone should be held accountable.  Someone has to pay for the economic damage, right?  Whose negligence caused this mess in the first place? Didn’t somebody realize the cause and effect of recording documents in the land records that purport to claim one thing, when in reality it may not be the case?

The real problem here is that most American homeowners (the other 89% that are unaffected by foreclosure at this point) aren’t paying attention. How about $420-billion for just the first set of reconveyances in average costs of quieting title ($15,000 x 28,000,000 MERS-alleged releases of lien)?  I estimated earlier that over 70-million properties are affected and I haven’t even touched on the assignments yet!

In deed of trust states, you’ve got at least four pieces of recordations at stake … an assignment (which is undetermined as to its “manufactured” value) that there’s a better-than-average chance was robosigned; an appointment of successor trustee (many of which were manufactured by the very foreclosure mills that were being ordered by some servicer to handle); a notice of default and sale (which may or may not have even been recorded as required by statute in some states); and a trustee’s deed (if in fact the property went to sale).  All of these documents come “into play” in non-judicial foreclosure states in clouding a property owner’s title. In judicial states, you’re most likely dealing in missing (or phony) documents purporting to create issues with title.

When homeowners don’t act, the banks win. When banks are allowed to use mouthpieces to terrorize homeowners and small business owners into submission (vis a vis Oregon and MERS potential legal outcome … notice Panchuk’s piece in Housing Wire came out right after Multnomah County announced it was going after MERS?  … that was no accident … it’s called damage control!), everybody loses. If the states wanted to “fix” this situation, they’d start prosecuting cases and going after convictions instead of plea bargains.  That way, the banks they’re going after would be less inclined to put any PR out in front of the general public, insinuating economic collapse if MERS wasn’t given a “go-pass” by the Oregon Supremes.  Again, that’s economic terrorism in my book and the Oregon Supremes need to stay the course and do what’s right for Oregonians and send a message to the banks and MERS: ENOUGH!