The Home Foreclosure crisis..

The Foreclosure nightmare has been greatly compounded by the MERS (Electronic Mortgage Reg. System) and its Robo-Signings..
The biggest single cause of the whole Global Financial Collapse was the insane belief that clever instruments could "eliminate all risk".
The MERS system was the biggest instrument ever 'forged' to deliver "Zero Risk".
Without the MERS system and its 'too good to be true' promise of Zero Risk, Investors worldwide would never have rushed into the 'sub-prime' feeding frenzy!
The sub-prime building spree would have been a much smaller event!

The MERS computer system was designed to "Eliminate All Risk" for those investors who wanted a slice of the obscene profits from the 'Sub-Prime' housing market.
Normally, 'Zero-risk' is impossible. High returns always mean High risk. How the MERS system planned to achieve zero risk is quite ingenious and would have required some collusion in very high places.

It worked like this..
Ten thousand sub-prime mortgages were bundled into a 'thing' with a patriotic name like "Oregon7".. 'Oregon7' was divided up into 10 layers (called 'Tranches') (French for Cake Layers) (1,000 in each layer) The top few layers were deemed 'zero risk' but earned less interest, the lower layers returned higher interest but carried more risk. The bottom two layers were designed to carry all conceivable risk and were not even sold, they were retained as a 'rubbish tip' by whoever created 'Oregon7'.
The creators of 'Oregon7' new they were dealing with 'sub-prime' mortgages and that up to 2,000 of the 10,000 might default. So, how can they ensure these possible 2,000 defaults NEVER end up in Tranches 1 to 4? That they ALWAYS end up in layers 9 and 10?

It becomes obvious why there is no 'paper record' of who exactly owns any one mortgage!
If 1000 mortgages default, all 1000 are instantly re-assigned to the bottom Tranche and 1000 other mortgages are moved out of the bottom layer into higher layers. This way, the top few layers cannot end up with any defaults unless over half of the mortgages default. Thus "Zero Risk" is achieved!
It also becomes obvious that the only way to instantly re-assign mortgages is by using a computer system (MERS) to keep track of which layers own which mortgages. It is also obvious that you cannot have ANY of this 'ownership' information in Ink on Paper!
The hard-copy 'Chain of Title' was deliberately "lost" to allow most of these toxic sub-prime mortgages to be sold as 'zero-risk' AAA securities.

So, why did they need to employ illegal "Robo Signers"?
The legal system in most countries requires that the deeds to your house actually exist, and that that piece of paper actually lists WHO OWNS your "Deed of Title". If the bank decides to sell your deed to another body, that body must now be listed (in ink) on the 'paper'. Its called "Chain of Title" and the chain must be current and complete.
This traditional requirement is totally ignored by the MERS system which relies on being able to instantly shuffle Deeds of Title from owner to owner based on their risk potential.
The whole scheme is so close to "criminal" that the Nation (and many Judges) cannot understand how it was allowed to be created!
Many Judges started demanding to see the actual Title Deeds before granting a repossession - so the MERS computer printed out tens of thousands of fake 'Title Deeds' and hundreds of house-wives were employed to sign them as "Bank Financial officers".
Many Judges are also refusing to accept that a computer program can be the legal owner of a house - let alone 60 million of them! These Judges are refusing to process the foreclosure until they see a genuine Deed listing a genuine owner. This is potentially a savage blow to the whole banking industry, the exposed banks are now pleading (lobbying) for mercy!

It bears repeating.. "The biggest single cause of the Global Financial Collapse was the insane belief that clever instruments could "eliminate all risk".
The MERS system was the biggest instrument ever 'forged' to deliver "Zero Risk".

As a new political party, we will obviously hold a Senate Inquiry into the MERS system..
• We intend to investigate who gave MERS their 'legal advice' and investigate possible 'dereliction of duty'.
• We will investigate the Federal Reserves involvement and which politicians were involved and investigate if they were paid to look the other way.
• We will require the 'Rating Agencies' to explain how they deemed these toxic sub-prime mortgages to be AAA securities.
• The MERS body will be disbanded and all MERS deeds of title be resumed (purchased back) by the last 'brick & mortar' corporation that sold them through MERS.
The bottom line is that these 60 million mortgages MUST be owned by a responsible, physical corporation. Many of these "last corporations" (who knew full well how immoral these transactions were) will not be able to afford the resumption and will be declared bankrupt. Their assets and those mortgages will be offered for sale on the open market.
Any mortgages 'passed in at auction' will be nationalized into our new national 'not-for-profit', 'peoples bank' (akin to the original Fannie Mae) [read more here]

• There obviously needs to be a moratorium on foreclosures while the real owners of these mortgages are determined.
• All home owners awaiting MRES related foreclosure will be allowed to rent the property at the going rates until the issue is resolved.
• While the current massive inventory of foreclosure houses continues to stall the market, the above "rental option" will apply to most foreclosure homes in most areas.

Relevant Articles and Comments from other sources..

This Article from the New York Times.. [click this link]
Quoting a federal bankruptcy judge.. “This court does not accept the argument that because MERS may be involved with 50 percent of all residential mortgages in the country, that is reason enough for this court to turn a blind eye to the fact that this process does not comply with the law.”

International Business Times.. May 2011
"Real estate deals already are unraveling at closing tables as title companies withdraw insurance on titles due to the court ruling, Detroit real estate professionals say. "This could invalidate every foreclosure where MERS was involved."