MERS never owns or holds any beneficial right or interest in a promissory note, and doesn't buy or sell mortgages or notes, doesn't originate or service loans or lend money, and never stores original promissory notes. MERS admits all of the above on it's own website mersinc dot org.
So, how can it sell, convey, assign, transfer, or convey any right or interest in a promissory note? Especially when it is never named on the Note, and is not a contractual party to the original transaction.
MERS assigned my mortgage, note, and property "for value and consideration" to the servicer ten days after the servicer filed foreclosure complaint. How can MERS assign what it never had? Now, 14 mos later, the servicer states that it is only the servicer, not the title- or note-holder. HUH?The servicer says that it is not an assignee, just "merely the servicer". Also, it was the servicer's attorney that made the assignment (the same attorney that prepared the foreclosure complaint). But in the assignment, the attorney is an officer of MERS. So let's see - MERS (servicer's attorney) assigns title and note (that it does not hold/own) to the servicer, but the servicer does not hold/own the note (admitted) and says MERS is the title holder. Will a knowledgeable attorney on Avvo please explain to me what has happened, please! Is this more fraud? Oh I have lots of claims, just no attorney that has the balls to take my case on contingency. We don't qualify for a free attorney, and can't afford a real one. And a person cannot find out who owns the loan thru MERS unless he is a MERS member (borrowers are not).