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They may be legal, but they are not sustainable.
eNotes are not legal - [piano- J.McGuire]
The Sell: November/December 1998
"You may have heard the trade name "MERS" or
its full legal name, Mortgage Electronic Registration Systems, Inc., and
wondered what MERS is. You even may have run across MERS in the chain of
title of a mortgage loan. If you haven’t heard about MERS yet, there is
a strong likelihood that you will soon. This article should help to keep
you from being caught off guard by explaining how MERS works." - by
Sharon McGann Horstkamp and William Hultman; Recognize the names?
There really is no such thing as an eNote.
eNote is a word made up by the mortgage banking industry for a
private registry. But, if you want to call a horse with a cone on its
nose a unicorn, go ahead, but the fact is the so-called unicorn is still
How does the Statute of Frauds [SoF]come
into play with electronic records? SoF has been around for a long time.
Take for instance; [emphasis added]
"The Statute of Frauds as it exists in
the most jurisdictions within the United States is based on a 1677 act
passed by the English Parliament. The act was known as "An Act for the
Prevention of Frauds and Perjuries."
Part of the reason the Act was passed by
Parliament was that at the time the parties to a contract were unable to
testify in a court dispute involving a contract to which they were a
party. As a result, all testimony in contract
disputes at the time was provided by expert witnesses. These
witnesses were hired by each side in the dispute. It was possible to
hear expert testimony that presented directly conflicting information.
A belief arose that the experts in these
contractual disputes were under no obligation to tell the truth, and
were instead willing to perjure themselves in order to provide testimony
beneficial to the party that had hired them and was paying for their
services. The reliance on expert witnesses also diminished
because of an increased recognition that it was impossible to testify
accurately as to the intentions of another individual.
In response to these concerns, the Act sought to require contracts to be
written down and signatures affixed to these contracts in certain
circumstances. The most crucial element is that the requirement that the
contracts be written provided evidence that was not dependent on
testimony. Instead the existence of written testimony meant that there
would be objective evidence, not subject to the requirement of expert
It also lead to the parties in the contract eventually being able to
testify in contract disputes on their own part. As a result, it became
essential to have objective evidence available that could not be
disputed by a party seeking to enhance their own status. -
Does the eNote provide the name of the "Issuer"?
The paper note provides the name of the "maker". According to
most provisions in state codified law, such as in Texas Civil Practice
and Remedies Code, it mentions "law of England";
Sec. 5.001. RULE OF DECISION. The rule of
decision in this state consists of those portions of the common law of
England that are not inconsistent with the constitution or the laws of
this state, the constitution of this state, and the laws of this state.
Statute of Frauds is not inconsistant
with the Constitution of state law, or such would be known by now, yet
eNotes seemingly evade "in-writing" requirements for a paper
note? So, if the power goes out, what happens to the electronic
contract? Whom enforces what? If the power goes out, you have no proof
you even hold the auhoritative copy. You can't get to it because the
power is out dummy. Of course, if you are a homeowner with a real
property mortgage secretly making its way through the stock market,the
worry is not yours. Once it left you, the account debtor used
it to defraud "investors". The investors will be after the account
debtor, not you. But since they can't find the "issuer",
the investors try to come after you because the "issuer" provided a copy
of a note reflecting you as the "maker". Even a thief can use
the debt against you. Where do you place your trust?
e-Notes are governed by E-SIGN, UETA,
sections 1-107, & 1-206, and Articles 2 & 2A, of the Uniform Commercial Code. Not Article 3, nor
Article 9, of the Uniform Commercial Code [UCC], even though you may be
led to believe. The sale of e-Notes, or
interests in e-Notes are not even governed by 9.107 for control of
letters of credit; and 9.206 for the security interest in arising from
the purchase or delivery of financial assets. Control does have a
15 USC 7021(b)]. Besides Articles
are the ONLY TWO SECTIONS supported in
E-SIGN, the rest of the UCC is excluded. And as you look deeper into the
MERS mortgage scheme, you may even see that according to the way MERS
members are using the MERS system, Article 7, & Article 8 seem to be
involved. MERS members are using the MERS system in similar ways the to
cotton industry uses "warehouse" receipts to locate bails of cotton. Stop being deceived. How does
one transfer an Article 3 negotiable instrument using E-SIGN law, when
E-SIGN law excludes Article 3? [See
15 USC 7003(a)(3).
Is it "Goldstein's
Curse" all because of eNotes this time? The issuer
who came and went without getting caught?
You do know that weapons of
mass destruction are not necessarily physical weapons? The eNote is a
weapon of mass destruction, ticking, ticking, ticking. It will explode.
Sign the petition Sign the
petition "Texas Legislature: Remove "51.0001(1) "book entry system" in
Texas Property code" and wanted to see if you could help by adding your
NEW - Was the "Note"
NEW - "Human Person v. Artifical Person; Human
People v. Artificial Persons"
The educated, or were they
taught to ignore required law?
Wells Fargo, CitiMortgage. "A Certified Mortgage Bankker recognized
as an expert in electronic technology including document imaging and
electronic signatures. An evangelist and champion of utilizing
e-technologies to increase efficiencies, reduce costs, and to improve
the overall effectiveness of the financial services industry with
demonstrated expertise at adopting e-technologies in complex
cross-functional corporate environments."
Could Ms Dodson be the
culprit whom converted the tangible real estate mortgages, into general
intangibles, for the MERS system for the account debtor? Just because
the woman knows how to scan documents and save them to a file
neither reflects Ms Dodson knows hoot about the laws that govern either.
Just because you have a title does not mean you know anything. But, if
you know enough you can fool just about anyone? so, she preaches the
gospel of electronics? Beware.
To think a law such as
E-SIGN would be put into place, and MERS members use of MERSCORP
Holdings, Inc., the "electronic agent" for transferring intangible
wealth among its members, their scheme didn't go as well as expected? I
suppose most know Article 3 was not modified to accommodate the
electronic promissory note; and Article 9 was also excluded from E-SIGN,
to an extent. If you recognize the attempts in 3 & 9, take a look at the
definitions in current Article 2. Then, if one cares to see how an
attempt to add "MERS" into Article 2, you can view it <here>.
Yes, it could possibly be viable for some other website type agent, but
E-SIGN governs that. Nonetheless, the UCC commission, committee withdrew
the amendments in the 2003 attempt. And from the definitions in that
2003 amendment, it appears they were actually attempting to merge E-SIGN
into the UCC.
Why have people not understood?
Is it Ego? Ignorance? Arrogance? Has E-SIGN really confused the world? Or did it
cause a state of
blindness, with the world being unable to see the
truth? Have electronic records intoxicated
the worlds mind? It did take time to get a
believer to that point. A very long time. Beware of the bread that
was fed to you. You really did drink their
If you didn't drink it, where are the headlines?
Promoters of E-SIGN deceived the world.
Read the deception,
WORLD. Then read pig in a poke. Was this deception promoted unknowingly? OR was it intentional?
I know the answer. You need to
choose which answer is right yourself. To choose the correct answer is
as simple as understanding what laws are governing what incident from
the conception of the real property mortgage loan, all the way through
to the collateral for the secured instruments. Why all of it? Because
the men of iniquity believe that a homeowner, or its representative are
too ignorant, or stupid, to understand the complete process from a
homeowner signing physical paperwork; to the MERS member converting such
physical paperwork into electronic documents; to the registration of
alleged real property mortgages in a private gambling casino; all the
way through the "securitization process" to the purchase, and
liquidation, by the investor, who was
duped just like the rest.
On the other hand, the men of
iniquity believe the investors, or its representative, are too stupid,
and greedy, to pay attention to anything other than how they can buy &
sell to make a their wealth. In keeping the two apart, both, the
homeowner, and investor, the men of iniquity can use the media, the
justice system, state and federal agencies, and man's ignorance, to keep
the crime hidden. This is why everyone should be understanding this
serious matter. If you choose to ignore a warning and keep your wealth
gambled on intangibles, derivatives, etc. you will wake up one day
primary tangible world of the stock market is possibly safer than the
secondary intangible market. The primary market could be a bit
questionable simply because the primary market is where the "securities"
are created. The secondary intangible market, though it may be legal, is not
sustainable and such electronic intangibles have created an electronic debt greater
than the global debt combined. That is a beast.
DID CONGRESS AND
REALIZE WHAT THEY HAD ENACTED?
E-SIGN, lawful, is just a part of the motive to the collapse of the unsustainable "intangible" debt.
Over 800 Trillion and counting. Understand E-SIGN, and Transferable
records and you will understand why it is considered "criminal activity"
that is being conducted by the people involved. Understand
and you could see individuals who have committed treason against the
United States, according to the U.S. Constitution and the Constitutions
of the several states. It might make one ask;
Is there an illegal organization within the United States government?
What about the several states government? Time will tell.
important to get an understanding of e-SIGN. You will understand how
certain wording in a deed of trust, allows MERS members attempt to sell,
purchase, assign, or transfer the deed of trust, separate from the note.
You will begin to understand how MERS could
be a beneficiary, but not the way you've assumed. You will begin to
understand why MERS assignments are not directly related [by
law] to real property mortgages. You will understand how the "creditor"
should be suing the "account
debtor", who is obligated in a MERS electronic contract, a personal property mortgage loan
transaction governed strictly by E-SIGN. You will understand that MERS is a personal property
registration system, not a real property mortgage system as claimed. You
will understand how certain "foreclosure" mills assisted in changing
Texas laws to fit the need of MERS. You will understand how certain
individuals in Texas are using Texas laws against rightful owners of
real property. You will read admissions from certain individuals,
including judges that mortgage loan document are "just made up".
You will understand how innocent homeowners have, and are, being judged
Isn't it time you understood the
mortgage problem rather than paying someone who doesn't really
understand it themselves? Including lawyers. Isn't it time you learned something of value
for a change, instead of paying someone who only leads you toward paying
them more money to help you learn, when the information is already
available to you free of charge on the internet? The reason you pay a person to learn
something is because you are too lazy to look for yourselves. That is why you pay
for something when you could have taken the time to seek for yourself.
Let me teach you how to fish. James has many articles and charts on this
site. I provide explanations of his articles and charts through my
research and understanding of the laws that govern. Know more than your
lawyer if you want to understand what s/he is doing in your case against
The thing called MERS was
being promoted pre-ESIGN, 4 years prior to ESIGN, in 1996. In fact, this
is proven by the
U.S. Bank Home Delivery and Funding Guidelines conveniently located
at the "Denihan and Associates" website, whomever
they are. The point is, the MERS intangible registry was being used
prior to E-SIGN. If you can't get to the link for the guidelines,
here is the
Read, Learn, Understand
e-Note, The Intangible god of Babylon
Goods and Services
MERS electronic Tracking Agreement
Asset Securitization, Comptroller's Handbook
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