Mortgage Fraud in the Marketplace: A New Legal Ruling Regarding Your Loan

Recently the Kansas Supreme Court case Landmark National Bank Vs Kesler, 2009 Kan. LEXIS 834, may give homeowners needing to avoid foreclosure great hope in preserving their home.  This supreme court case held that a nominee company called MERS (Mortgage Electronic Registration System) has no legal right to foreclose.  MERS is a private company responsible for electronicallly tracking changes in ownership.  The significance of this ruling is that if MERS has no right to foreclosure, then perhap nobody else does either.  Currently the number of US held mortgages held by MERS is somewhere around 60 million homeowners and over half of all new residential mortgages in the US are registered with MERS.   Unfortunately the holdings of the Kansas Supreme Court are not binding to the rest of the nation, but this court case will be noticed in other courts and other states may follow suite.

A forensic loan audit may reveal this mortgage fraud as well as other mortgage fraud in your loan.   Call today to get started!

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