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john gault's Blog

Today the Fed Announced It Will Trim Its Bond Buying
by john gault | 2013/12/18

aka The Long Lasting Impact of Failure to Prosecute

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john gault's Blog :: 0 comments ::

GNMA's Mandate to MBS Issuers to Repurchase and Holder v Holder in Due Course
by john gault | 2013/10/18

Are the actions of third parties manipulating homeowners' rights to affirmative defenses? Issuers are contractually obligated to purchase loans in order to modify or foreclose.

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Who May Assign a Deed of Trust, even if MERS has Authority?
by john gault | 2013/06/15

This material touches on numerous topics, including agency, but its primary goal is

to identify the party who may assign a deed of trust, either himself  or who may empower

another, including MERS, to do so.  I also discuss my belief that a deed of trust does not

"follow a note", why not, and why a court may not find an 'equitable' assignment.  

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Kentucky County Recorders File Suit Against MERS, Shareholders - Is Money Due?
by john gault | 2013/01/31

Kentucky county recorders have followed the actions of other states' county recorders and filed suit against MERS and others, including shareholders, for failing to pay statutorily mandated recording fees. The Kentucky case makes at least one salient point not made in other such actions: the defendents have availed themselves of the benefit of recordation, while at the same time avoiding the required fees for assignments. According to the suit, "They have taken advantage of the protections afforded by Kentucky's laws by recording mortgages while at the same time, they have failed to comply with Kentucky law requiring accurate information in mortgage instruments, the recording of assignments for the same mortgages, and the payment of required recording fees for the statutorily required recording of mortgage assignments." The suit also maintains that the members' general averments that MERS is anyone's agent is merely a claim (not a fact in evidence by reason of real property agency laws - sic). 

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The OCC Abandons the "Independent Foreclosure Review"
by john gault | 2013/01/08

The Office of the Comptroller of the Currency has announced it's ending the Independent Foreclosure Review, apparently on the basis it's inconclusive. The OCC left the review in the hands of the banks: how was this "independent"? It wasn't , and as such, I hope it wasn't the polity which had to pay for this show-boat exercise in futility. 

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MERS and the Doctrine of Merger
by john gault | 2012/09/06

This material looks at the doctrine of merger including  the ramifications of credit bids in foreclosures and deed of trust trustees selling liens.  It also touches on WA SC's recent decision on MERS as beneficiary in Washington state deeds of trust.  

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A Look at Foreclosure Post-MERS' Consent Order
by john gault | 2012/05/05

Since MERS entered the Consent Order with the U.S. Dept of the Treasury in April of  2011, its  members may no longer foreclose in MERS' name.  This material looks at how the members are dealing with this situation.  

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The Foreclosure Dilema: Decisions at the Expense of One Class
by john gault | 2012/01/11

This material looks at favoritism to one class of citizens at the expense of another in

enforcement of  Law in regard to foreclosures.     

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Duties of The Deed of Trust Trustee - What Documents Must He Be Provided?
by john gault | 2011/10/30

This material discusses the duties of the deed of trust trustee and what documentation he should be reviewing. If the trustee received those documents, it would benefit all of us. Well, most of us.

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MERS' DEED OF TRUST AND THE STATUTE OF FRAUDS
by john gault | 2011/10/13

This material discuss the MERS'-crafted deed of trust, the laws of agency, and the

statute of frauds.

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john gault's Blog :: 2 comments ::

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john gault's Blog

 

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Recent Comments

".....its' own MEMBERS either did not use or even worse, CHOSE not to use it to "save" even more ...
by john gault
Ohio courts have completely "botched" this in my opinion.  Cases in which homeowners argue...
by Robert Franco
Gomes is on my list to study.  The Supreme Court has reasons to pass on hearing cases, and we c...
by john gault
MERS is not the beneficiary of a deed of trust. Having failed the litmus test for agency, MERS ...
by Slade Smith
That's the only thing which makes any sense.  The loss to the noteowner isn't known until after...
by john gault
I'd like to give some thought to that if you can provide a basic primer.  I've got th...
by john gault
This speaks to the principle that "Nobody will exercise your rights for you, so you've got to d...
by William Pattison
It appears, from info at FNMA's website, that loans must be "transferred" for m.i. to...
by john gault
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