MERS, actually only is a computer database that, for all intents and purposes, tracks the sales of these repetitively as they occur on Wall Street between the parties.
The unfortunate thing about MERS, which it admits by the way, is that is not a substitute for the Land Records. All it is, is an electronic database that is used by its membership subscribers which is kind of like the credit bureaus, if you ever wonder who inputs the data on the Credit Reports, well these are all these members subscribers of the credit bureaus that have access to this information. The credit bureau is entrusted through the Fair Credit Reporting Act to basically keep track and make sure that everything that is being reported is accurate, which is why we have the dispute process.
You know, just to look just at the opposite, MERS does not have this kind of government regulation as due the banks.
HOST
So it is not a real deed registration. They created it so they could run these scams and sell the deeds over and over again.
DAVE
Well, they sell the mortgage notes over and over again.
HOST
Exactly. How many times exactly? But it is the same thing in the final equation? Wouldn’t it?
DAVE
Well, actually no. Your mortgage note, it was really sad to hear that…
HOST
I know they’re two different things but they come back to court and try to take your house with it?
DAVE
Exactly, but they try to come with part of the equation, not all of it. This is one of the things that the attorneys who are studying these stuff and sharing this information with me, they’re telling me that they’re trying to get the entire equation put together and do it in such a way that the judge will believe it because right now…
HOST
So they are engaged in perjury, fraud and constructive fraud, but the issue here is that for years now, they’re getting clocks cleaning courts all over the place and that’s what you break down on your book.
DAVE
A lot of them have been. We have a few significant cases where the homeowners have won. We just had a Rico-style action happen down in the Gulf Coast of Florida. We have an appellant attorney down there in Englewood that actually won a case. It is Elizabeth Coursen and you know, it has been circulating around the Internet. I’m sure that if you type in Coursen, you’ll see that case. We actually defeated a motion to dismiss there on the appellant level, basically we’ve reversed it.
We are having a few victories and then of course, we have some of the sad consequences of what happens to people when they go on and try to fight this thing on their own and they file documents in the Land Records that are not appropriate. As I was sharing with you before we went on the air Alex, this woman in California filed a document in the Land Records in an attempt to stop a foreclosure of her parents’ home. Now, she was convicted of two felony counts and sentenced to a year in jail.
HOST
Stay there. We are going to come back and break that down because there are people out there on the Internet that will tell you stuff like this. This is the power of common law. You are filing and swearing to something. Let me tell you, it is fraud if it’s not true. Now, the banks are doing it, but just because they’re engaged in fraud, doesn’t mean we now run to beat them and engage in fraud.
BREAK
Dave Krieger is the guest in our studio. You have literally hundreds of trillions of dollars worldwide by the Chinese government, Russian government, European governments and pension funds. This is also done in Europe to some extent, though not as bad as here, but some countries are even worse from what I’ve read to where it’s all just fraudulent. I remember, they make you put money in escrow to pay your property taxes. On my first house like 14 years ago, I moved into this little-bitty house that I had put my money in. About a year later, I was told that my mortgage had been sold two or three times and it’ is finally Bank of America. Every few months, it’s a new place to — back then, it was send the check in and then they said, “You don’t have $3,000 or whatever it was on escrow.” I hadn’t checked the escrow. We did. They’ve taken the money and then they would let me know that they are starting proceedings to take the house that I have put money down on and have been paying on for a year and half or so. I had to go get a lawyer and send them a letter and threaten Bank of America.
The Biggest Mortgage Fraud in History Exposed Pt. 3
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