Marie McDonnell's Declaration & Report | re: MONTGOMERY COUNTY, PA vs MERSCORP, MERS

November 6, 2013 in STOP FORECLOSURE FRAUD

IN THE UNITED STATES DISTRICT COURT FOR THE EASTERN DISTRICT OF PENNSYLVANIA

MONTGOMERY COUNTY, PENNSYLVANIA, RECORDER OF DEEDS, by and through NANCY J. BECKER, in her official capacity as the Recorder of Deeds of Montgomery County, Pennsylvania, on its own behalf and on behalf of all others similarly situated, Plaintiff, vs. MERSCORP, INC., and MORTGAGE ELECTRONIC REGISTRATION SYSTEMS, INC., Defendants. EXCERPTS: TABLE OF CONTENTS ................................................................... 2 SUMMARY ................................................................................... 3 SUBJECT ...................................................................................... 3 MONTGOMERY COUNTY LAND RECORDS .................................... 3 MERS WEBSITE ............................................................................ 4 MERS MIN SUMMARY ................................................................. 4 MERS MILESTONES ..................................................................... 4 SECURITIZATION ANALYSIS ...................................................... 6 ASSIGNMENT ANALYSIS ............................................................ 7 CONCLUSIONS ............................................................................. 7 RESEARCH ................................................................................... 8 TRANSACTION DETAILS .............................................................. 8 LOAN LEVEL DETAILS ................................................................. 8 SECURITIZATION DETAILS ......................................................... 8 LOOKUP REFERENCES ................................................................. 9 BLOOMBERG RESEARCH .............................................................. 9 MERS WEBSITE ........................................................................... 10 TITLE DOCUMENTS RECORDED ................................................... 10 MERS’ TRANSFER BENEFICIAL RIGHTS ...................................... 10 ASSIGNMENT ANALYSIS ............................................................ 11 ASSIGNMENT ANALYSIS When all of the available information collected from the Recorder’s Office, MERS and the SEC is compiled and integrated, I found that there are five (5) missing assignments that should have been recorded with the Montgomery County Recorder of Deeds as follows: 1. From Countrywide Home Loans, Inc. to CWABS, Inc. (SEC); 2. From CWABS, Inc. to The Bank of New York as Trustee for CWABS Asset-Backed Certificates Trust 2005-8 (SEC); 3. From REDACTED to REDACTED (MERS); 4. From REDACTED to REDACTED (MERS); 5. From REDACTED to REDACTED (MERS). When analyzed together, the MERS data and the SEC data reveal redundancies, gaps and contradictions. For example, the SEC data shows that Countrywide Home Loans, Inc. sold the Farkas Mortgage Loan to CWABS, Inc. on August 30, 2005, and subsequently, CWABS, Inc. conveyed the Mortgage Loan to The Bank of New York as Trustee for CWABS Asset- Backed Certificates Trust 2005-8. On the other hand, MERS states that REDACTED, (rather than Countrywide) sold the Mortgage Loan directly to the Trustee, REDACTED on August 31, 2005 (who was not the Trustee at the time). CONCLUSIONS Based on all of the data to which I had access concerning transfers of the Farkas Mortgage Loan, I make the following conclusions:

There are five (5) unrecorded assignments of mortgage that should have been filed with the Montgomery County Recorder of Deeds.
The MERS Milestones data is incomplete. Two (2) transfers reflected in the securitization Deal Documents are not contained in the Milestones Report for the Farkas Mortgage Loan.
The MERS Milestones data contradict the securitization Deal Documents, suggesting that REDACTED transferred the Mortgage Loan twice.
The Assignment of Mortgage recorded on November 14, 2011 with the Montgomery County Recorder of Deeds is untimely; the Closing Date for the CWABS Asset- Backed Certificates Trust 2005-8 was August 30, 2005.
In addition, the Depositor, CWABS, Inc. – and only the Depositor – was authorized by the Pooling and Servicing Agreement to convey the Mortgage Loan into the Trust.

Title to the Property has been corrupted by the failure to record a complete chain of title by Mortgage Electronic Registration Systems, Inc.

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