Title Land Edification Discovers Local Government Data Breaches Affecting Real Property Sale, Transfer, Ownership, and Mortgage Servicing Rights Nationwide
Title Land Edification (TLE) proprietary data technologies verification tool discovered mass breaks, irregularities (intentional), and errors (intentional) in just one state and local government real estate recording, judicial, and tax jurisdictions data-management cadastre systems—affecting US residential first-lien mortgage loans originated, registered, purported serviced, and transferred on the fatally flawed financial institutions’ member-based a national electronic mortgage tracking database system.
The initial Mortgage Electronic Registration System, Inc.” mortgage is recorded in the state local county recorders’ (or equivalent county offices’) with “Mortgage Electronic Registration System, Inc.” (MERS)—on its MERS® System named as the lender’s nominee or mortgagee of record on the deed of trust (or mortgage) instrument. During the lifetime of the mortgage, the beneficial ownership interest or purported servicing rights may be transferred among MERS® System members (MERS mortgage (or deed of trust) assignments). However, these mortgage (or deed of trust) assignments are not usually publicly recorded—instead they are tracked electronically in the private MERS® System, though, without notifying potential and existing homeowners each time the mortgage loan itself or the rights to purportedly service the loan is transferred, in violation of federal laws, which states, in part, each purported servicer of any federally related mortgage loan shall notify the borrower in writing of any assignment, sale, or transfer of the purported servicing of the loan to any other person. (emphasis added)
Proper procedures must be followed to ensure the reliability of the chain of ownership, to secure the reliable transfer of property, and to assure the enforcement of the rules that govern real property.
The MERS® System cannot prove that it has transfer both mortgage and underlying promissory note, as required by law, evidenced by these disturbing findings:
Learn Why The First 72 Hours Of Discovering An Internal State Local Government's Data Breach Are Vital To Protecting Your Property Rights.
According to Mortgage Electronic Registration System, Inc. (MERS), any loan registered in its MERS® System is “inoculated against future mortgage assignments in the county land records because MERS remains the mortgagee no matter how many times purported servicing is traded.”
This is important to know because Title Land Edification Real Property History Report contains information that can impact a consumer’s decision to buy or refinance a home (mortgage loan)—prior to, loan closing.
Exhibit 1 below provided below is for illustrative purposes only—a snapshot of an unauthorized alteration (switched) to most states local government: counties and municipalities—registered parcel identifiers that occurred before the purchase-money mortgage loan origination and sale date (July 18, 2008), prior to, transfer of ownership of real property from Party A and Party B, and, prior to title and first lien deeds are publicly recorded among the land registry. Thus, causing a break or irregularities in the chain of title, thereby damaging the integrity of states and local counties’ land records and real property tax assessment databases.
When compared with the “Before” picture, this “After” picture can be quite revealing—leaving potential and existing homeowners at risk for tax-related identify theft and real estate, title to land, accounting, or tax fraud.
Before you purchase, refinance and close on a US residential mortgage loan—have us verify the real property and know who is the most current purported servicer identity(ies) and the note-holder(s)/mortgagee(s) when registered with Mortgage Electronic Registration System, Inc. (MERS® System).
Before You Own!
Looking closely at Exhibit 1 below, describes the same new construction townhome condominium has the same taxable situs address, same lot number, but different parcel identifiers.
Protect yourself from an aggravated tax-related fraud and identity theft. Whether purchasing your very first home or you are looking to buy an investment property, this sample describes a pre-mortgage loan origination and closing/settlement—illegal or unauthorized fraudulent alteration of parcel identifiers by way of an internal local government data breach.