Hi Roger Tanner,
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In reply to Where Does the Fraud Begin posted at MIG by Wisewarrior Friday, John said:
I
am aware of those cases. Those were not cases based on the fact the
alleged borrower was the real creditor. Those were cases based on
procedure violations and the fact the notes were separated from the
mortgage. Most of those involve MERS who was acting as trustee holding
the mortgage or trust deed while never having the note. Some others
revealed this after having a securitization audit done showing the note
was sold on the stock market where the notes are destroyed and converted
into a stock which you can't put it back as a note once it was
converted to stocks. Banks were using COPIES of the note trying to
conceal that.
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