Friday, September 25, 2009

SeekingAlpha.com | Could Securitization of Debt Be Unraveling on Legal Grounds

The Kansas Supreme Court has ruled that a company named Mortgage Electronic Registration Systems has no standing to file for foreclosures. MERS acts as a front for banks and investors, registering mortgages electronically and tracking changes in ownership, according to Ellen Hodgson Brown, JD at Web of Debt.com....

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Web of Debt | LANDMARK DECISION PROMISES MASSIVE RELIEF FOR HOMEOWNERS AND TROUBLE FOR BANKS