May 28, 2013
Prescott Lovern, Sr. has filed a Private Attorney General lawsuit against Mortgage Electronic Registration Systems, Inc. (MERS II), it’s parent company Merscorp, Inc. (MERS I), Fannie Mae & Lender Processing Services, Inc. This is the first of a series of lawsuits designed to stop mortgage / foreclosure fraud. Additional defendants will be added to this case. If the law is applied correctly, fraudulent MERS II title conveyance documents will no longer be able to be used to facilitate illegal foreclosures, as a result of this lawsuit. The mortgage registration system created by the bank / mortgage industry was ill-conceived and MERS I & II need to be shut down.
The millions of properties nationwide that do not have clear title because of MERS I & II fraudulent title conveyance documents, now those current & former home owners have a chance to receive just compensation for the frauds perpetrated on them by MERS I & II et al, part & parcel to this lawsuit and upcoming lawsuits to be filed against banks, mortgage companies, mortgage service companies, & corrupt government officials who have been lying to the public for years. This lawsuit will pave the way to finally, once and for all, clean up the mortgage / foreclosure fraud in the United States, which has trillions of dollars of liability. There is no bank too big to fail.
The National Mortgage Settlement is a joke, giving home owners whose house was stolen form them a few hundred dollars in restitution. Now state & federal government officials will have to deal with the truth. Fannie Mae, Freddie Mac, HUD & the Veterans Administration, et al, and their banking partners, continue to participate in mortgage / foreclosure fraud daily, despite evidence given to them by Prescott Lovern, Sr.