Daily Archives: March 10, 2013

City of Providence Amicus Curiae – MERS – “Intentional Misrepresentation”

Amicus Curiae submitted by the City of Providence (Bucci vs. Lehman Brothers et al)

You have to read the whole thing folks but here are several excerpts from the brief.

 

“The City of Providence is an interested party because MERS’s intentional misrepresentation as a mortgagee and the Superior Court’s erroneous decision to allow the perpetuation of this misrepresentation is harming the City.”

 

“Allowing MERS to confer upon itself the status of mortgagee undermines the accuracy of the land evidence records, which in turn both delays foreclosure proceedings and impedes the City’s ability to safeguard the basic health, safety, and welfare of it’s citizens with proactive enforcement of health, safety, and welfare of it’s citizens with proactive enforcement of health and safety codes. Accordingly, the City of Providence moves to submit the attached brief as an interested party and friend of the Court to underscore why MERS is not and cannot be a mortgagee and to highlight the extent and danger of the term’s misuse.”

 

It’s important to note that the Rhode Island Superior Court has been hanging it’s proverbial hat on it’s original *erroneous* ruling in the Bucci case for a very long time.

 

Also in Rhode Island we have banker Merrill W. Sherman running around masquerading as a quasi-judge in Federal Court making excuses for her foreclosure fraud pals.

H/T Foreclosure Hamlet website…

Link

Nationstar Ordered to Stop Auctioning Some Loans After Suit

Nationstar Ordered to Stop Auctioning Some Loans After Suit

Nationstar Mortgage Holdings, the mortgage servicer that collects payments on more than $300 billion of debt, was ordered to stop auctioning some home loans backing mortgage securities after an investor sued.

KIRP LLC sued Lewisville, Texas-based Nationstar in New York State Supreme Court in Manhattan yesterday, accusing the company of harming investors by auctioning the loans and abdicating its responsibilities as servicer. KIRP, based in New York, described itself as a “significant” investor in six residential mortgage-backed security trusts sponsored by Residential Accredit Loans Inc.

Link

U.S. Senator wants AG to investigate LPS

U.S. Senator wants AG to investigate LPS

A U.S. senator has asked Attorney General Eric Holder to investigate the business practices of a company that provides technology services to lenders and other companies that process foreclosures.

In a letter sent to the Department of Justice on Thursday, Sen. Ron Wyden, D., Ore, raised concerns over the business practices of Lender Processing Services Inc., a Jacksonville, Fla.-based company that offers software and logistical services for mortgage companies.