The Iceberg called MERS (Mortgage Electronic Registration Systems, Inc.

) Part 3 This article is a continuation of Part 2 of The Iceberg called MERS. We are talking today about title, as that is the basis of all that we have been discussing for the past 2 weeks. It is not about ownership at all. Title is The Manner in which the right to real property is acquired, and the conditions necessary to acquire are a valid claim. Title is the Right itself, the legal consequences of such conditions. So the question we are asking is: Were there conditions that took place that would have allowed MERS to acquire any rights that it could assign and transfer? Of course not. Because MERS operates in the intangible world and not the tangible world as we know it, MERS must be describing the eMortgage and the eNote. These are defined as electronic records. They are not Negotiable Instruments. MERS is acting as an agent for the electronic documents created. However, one must be careful as pursuant to USC 15-96-1-7003(a) (3) which states: UETA and ESIGN do not apply to Article 3 or Article 9, of which the Tangible Promissory Note falls under article 3 of the Uniform Commercial Code. So MERS must be depicting the eNote that was created electronically along with the eMortgage that was created electronically, stored electronically, and transferred electronically with just the push of a button. USC 15-96-1-7003 (a) Excepted requirements The provisions of section 7001 of this title shall not apply to a contract or other record to the extent it is governed by (3) the Uniform Commercial Code, as in effect in any State, other than sections 1107 and 1206 and Articles 2 and 2A In order for one to acquire rights, negotiation and delivery of the instrument must have taken place pursuant to UCC 7501, or the states equivalence of 7-501. Form of Negotiation and Requirements of Due Negotiation. (a) The following rules apply to a negotiable tangible document of title: (1) If the document's original terms run to the order of a named person, the document is negotiated by the named person's indorsement and delivery. After the named person's indorsement in blank or to bearer, any person may negotiate the document by delivery alone. (888) 491 3741 info@mortgagecomplianceinvestigators.com

MERS is not transferring an indorsed Tangible Promissory Note, as MERS is not a named party on the Tangible Promissory Note. MERS is claiming To transfer its interest into the Security Instrument which MERS is named in the definitions as nominee, or beneficiary for the named lender. The main purpose of an Assignment of Mortgage or Assignment of a Deed of Trust is to memorialize that sale of the Tangible Promissory note, thus giving constructive notice to the world of what has taken place. The entire instrument is comprised of the following items: The Tangible Promissory Note, the Security Instrument and the Intangible Payment Obligation. So in order to claim the entire instrument the following items must be true; the chain of endorsements much match the chain of assignments, the same party must be named as either lender or a named payee on the Tangible Promissory Note, the same party must be named into public record as the beneficiary or mortgagee of the security instrument, and the same party must be the sole party claiming the intangible payment obligation. All of these items must be done in a timely fashion as well. While there is a temporary perfection of the security interest afforded by the Uniform Commercial Code, or the states equivalence law, if it is not done in a timely manner, the temporary secured interest becomes unsecured by operation of law. MERS is only listed within the definitions of the security instrument being either the Mortgage or the Deed of Trust, and is not named on the Tangible Promissory Note at all. With MERS only being listed on the security instrument, and with MERS never acquiring any rights for collection of the debt evidenced by the Tangible Promissory Note, MERS never transferred any rights for collection as it never had any right to transfer. Mostly, the payment intangible obligation had been sold shortly after signing which in many instances was done many years prior to the Assignment of Mortgage or Deed of Trust. Regardless of what MERS states within its own documents the Mortgage cannot live anywhere else outside of the recorded county record. Respectfully, Joseph Esquivel Mortgage Compliance Investigators Copyrighted 2013

(888) 491 3741 info@mortgagecomplianceinvestigators.com