This sends up a huge red flag for me personally. My rental in Edmond is lost somewhere in the MERS mess. If you haven't been following this story, it is because the MSM refuses to cover it.
To make a long story short, the banks created a clearing house for mortgages and notes, Mortgage Electronic Registration System (MERS). This process lets the banks transfer/package/sell Residential Mortgage Back Securities (RMBS) without paying the local county recorder any transfer filing fees. By avoiding this basic legal requirement some will argue that the title chain has been broken. In addition, having separated the promissory note from the mortgage by the selling of RMBS and nothing is recorded, many (including me) wonder who owns the note & why am I paying such and such servicer. It becomes an issue when the servicer tries to foreclose and can't show legal standing to do so. So the banks tried backdated transfers, out of state notarizations on different dates, etc after the foreclosure process had already started, hence the term "Fraudclosure."
Then this happened-
MERS reaction- "Don't mention us, until we tell you to."
Saw this just this morning-
Title chain law in AZ-
What concerns me is that this is actually a bank supported effort to get "wet ink" signatures on new notes and mortgages to cure title defects that they CREATED. Bond holders get made whole again, banks get government paid write-downs (after the trillions the Fed already gave them) and people are still living in houses they could never afford.
Obamao, the great compromiser, leaves the tax payer and honest homeowners holding the bag.
***I'm no lawyer and this is only my take on what is happening...