Very Scary.... Uncle Sam will tell us who owns his land....? This is about the desire of the lenders to control the process. Land title in the US is the best anywhere and in the opinion of the world renowned economist Hernando DeSoto the very basis of the strength and power of this country. The problem is not whether we can determine ownership of the land, the issue is the inability and perhaps refusal of the the lender to be able to prove owership of the security devices (mortgages and deeds of trust) used to secure the loans on real estate. They created MERS as an end run to filing assignments.... In the late 80's and early 90's S&L and bank failures, the FDIC and RTC took the position that if an assignment had not been recorded the ownership of the loan had not been completed and the RTC and FDIC were claiming for the failed institution the ownership of the loans to offset the losses at the institution.... Yikes say the lenders! So the next thing you know MERS is created, to act as a clearinghouse for the ownership of mortgage secured loans. To slam the county/parish recorders is not necessary for this debate. The people in these offices work at the behest of the local community for whom they record title records, and in the manner those same constituents desire and are willing to pay for with their taxes.... if the locals arent complaining about the process, what's the problem? As I see the problem, it is the lack of information to the general popluation about what is happening in this country and the fight over the control of the right to unfettered private land ownership.
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