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(OT) Another scandal…
“The Anatomy of Mortgage Fraud: MERS’s Smoking Gun, Part I”
“….The first thing to note is the date. Folks, this strategy was formulated in 1999. The second thing to note is these documents demonstrate that failure to properly endorse the notes and transfer them to the REMIC trustee was not an occasional mistake, but rather was MERS’s business model. As we will see, *MERS planned from the get-go to defraud* the counties, and the IRS, and the homeowners, and the buyers of the mortgage-backed securities. ….”
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