Last year, a comprehensive audit of the Essex County Massachusetts deed registry was conducted by Marie McDonnell of McDonnell Analytics. The audit focused on assignments and mortgages being filed by Chase, Wells Fargo & Bank of America into the land registry. These are 3 of the largest national mortgage servicers.
The findings are shocking and require immediate and harsh attention from both our local and the federal government. Only 29 % of the Chase assignments in the land record were valid. Only 13.31 % of the Wells Fargo assignments were valid and only 7.86% of the Bank of America assignments were valid. For Bank of America, 82% of these assignments were robo-signed and/or fraudulent. The formal results of both this audit and a similar audit of the San Francisco California registry may be found at www.Landtegrity.com.
As a result of the corruption uncovered formally in the Essex County land record, John Obrien, the registrar of Essex County Massechussets Deeds now refuses robo-signed and other fraudulent documents.
It was deduced from the McDonnell audit that for every 1000 mortgages filed in the land record $180,000 in recordation fees were avoided by the banks and their MERS securitization scheme partner.
This petition is a call to Barack Obama to have the federal government pay for each County in this entire Country to obtain a similar audit at no cost to the County and that each County be allowed to recover the assignment recording fees that are due by the mortgage servicers who illegally avoid these important fees.
- 1st Amendment of the US Constitution
- This is our grievance-
President Barack Obama, we call on you to keep the promise you made to institute strong regulation over Wall Street and the banks that are destroying this nation. A majority of people voted for you to be our president because you stood up in front of this nation and promised strong new regulation over financial institutions and their destructive derivative securities. You have to date NOT delivered on this promise. And you have taken PAC money from these monstrous banks who issue them. These banks are still using their obviously faulty securitization scheme in mortgage transactions and still filing fraudulent documents into our local land records. They are doing this in order to steal homes from your voters. They are robo-signing fraud into the land record to steal our homes from us and you have done nothing about it.
You stand idle watching while the banks plunder our middle class and destroy the integrity of our land recordation system.
Further, to undo the damage caused in our local land registries we call on you to use your executive authority to deliver to your people a federally funded comprehensive national land record audit by private parties who are not affiliated in any way with the banks, Wall Street or MERS.
Our Counties are being robbed of billions of dollars in recordation fees through unrecorded MERS assignments and we the people demand that they be paid. From the first MERS loan to the very last one. These are fees that pay for our policemen, our firemen and our roads and schools and you let the banks plunder it through slight of hand. We demand that these recordation fees NOT be paid with 1 dollar out of the US treasury but rather by the banks who premeditated and perpetrated this illegal MERS sponsored tax evasion and fraudulent foreclosure scheme.
We further call on you to use your executive authority to switch the QE3 stimulus package from $40-50 Billion per month of purchasing mortgage backed securities from wealthy bankers TO paying off illegal mortgages and/or making restitution for those individuals who were defrauded out of their homes and who were victims of land record fraud. We demand that the banks forgive mortgages for any individual for whom the chain of title of ownership is permanently broken, or the loan has already been satisfied as will be evidenced by the National Land Record Audit.