"Does this hurt you? Sure, it does. Because if you have a family tragedy or run into health or financial problems – you can’t turn to Mr. Bailey for help. You become a number and your profile is stored in a data storage system where the computer makes all the decisions based on an unsympathetic computer software program. And don’t think this systems treats every one equally. It knows if you are black, white, male, female, married, single, like porn or buy energy drinks, Coke or Pepsi and all of your habits are factored into an invasive system that makes the decisions on whether or not you get a loan or the help you might need.
Why is the ULC conference so important? The hand selected chums on the ULC committee are trying to decide how they can best push through a national (federalized) mortgage loan registry system, like MERS – that hasn’t worked so well over the past 15 years. What they’d like to do is white-wash all of the fraudulent land records – and forgive the crooks for their bad acts. And by doing so the national land registry becomes just that – a federally owned system making it easier to grab land and take away state’s rights." (DC)
"While I feel ULC's motives are fairly benign I can't say the same about their patrons or industry supporters and I think it a noble and needed effort that Karen Pooley and colleagues will be weighing in with their doubts and displeasure." (Sucher)I will assume, arguendo, benign intention. That being said, they cannot do anything that will make it easier for banks to get away with dirty chains of title and forged or fake documents. Simple.
This was the scene yesterday at Greenlake Park where the Rolling Rebellion served notice that it will continue to fight against the corporate octopus that has its poisoned tentacles in every spectre of our society. As you can see above, the Octopus seems to have Lady Liberty squarely in his sites. They are of course focused on corporate money in politics, the sort of money that influenced the worst First Amendment case in SCOTUS history, Citizens United. You know it's a dirty case when Pols like U.S. Senator Kelly Ayotte cite to it as she has on several occasions such as at 2:00 into this video. And watch the video below, as she stumbles when confronted with the octopus question from a constituent. Watch for a minute or two starting at 1:30 in:
Meanwhile, homeowner Karen Pooley and I have put in for a First Amendment park permit for Friday, 11 July 2014 11am-2pm to allow all interested parties to sound off at Westlake Park south stage relative to proposed changes to the Uniform Commercial Code. Here is your event link, and one on SAFE in Seattle's FB. Watch for a short video Tuesday highlighting this issue using yesterday's footage. It is my belief that the changes are designed to in some ways merge U.C.C. Articles 3, 8 and 9 and make fraudulent, forged and otherwise legally untenable signatures perfectly legal, so that banks and servicers may more readily foreclose on American homeowners. All of this in the immediate wake of Montgomery County, PA Recorder Nancy Becker's successful lawsuit against MERSCORP. I will speak briefly before tending to my camera duties, but the speakers lineup thus far includes:
Attorneys Ha Dao and Richard Jones, Seattle activist Jess Spears and Washington Senate Candidate Michelle Darnell. Below the fold enjoy more pictures from yesterday and several points of analysis from Ms. Virani's initial review.
"I just did a very quick review. There are a several things that stand out. One is the creation of two classes of debtors - (1) those that reside in their properties, and (2) those that rent their properties - in other words, the bill creates a distinction between homesteaders and non-homesteaders. This is the beginning of a new class of discrimination. This has been extremely troubling to me because the Florida legislators passed a foreclosure bill with similar language. I am just waiting for someone to file a some sort of discrimination lawsuit.
Second, the lost note affidavits. Under the UCC, the INTENTIONAL destruction of a note means that the debt is discharged. If challenged in a court of law, the banks cannot prove they have anything. This provision basically gives any foreclosing entity a pass to pursue foreclosures without the right to foreclose.
This has become a major issue in both Florida and Texas. In Texas, there is no need for the foreclosing entity to present the note. There are several recent 5th Circuit Court of Appeals decisions that have emphasized this fact. In Florida, all a foreclosing entity needs to do is show up in court with what they call the "original note" without any further proof. This has led to foreclosing entities appearing in court with copies of the note claiming the copies are the originals.
While a note registry sounds like a good thing, it would just be another way to perpetuate the fraud. In essence, the banks have a registry for the notes and the notes were routinely scanned and put into that registry. The notes were then intentionally destroyed. It was these scanned notes that were negotiated and placed in "trusts". Again, the UCC states that the intentional destruction of the note discharges the debt. The last item that is worrisome is the definition of "zombie properties". The way it is worded, it sounds like the zombie properties are the fault of homeowners.
In reality, zombie properties are where foreclosures have been initiated and the homeowner is told to move out. After the homeowner moves out, the foreclosing entity, for an inexplicable reason, fails to follow through with the foreclosure. Additionally, there are also zombie properties where the foreclosing entity obtains a judgment of foreclosure but fails to either sell the property at auction or take possession of the property. Bottom line, zombie properties are created by the foreclosing entities and not by the homeowners. The last item that stood out is actually a pretty good item. It deals with the negotiated transfer in satisfaction of debt.
In Florida, the practice has been to accept a deed in lieu and then wait a few years until the homeowner is back on their feet. At that point, the banks file for a deficiency judgment and proceed with collection actions. To some extent, the foreclosure bill passed last year in Florida, reduced the time frame in which a foreclosing entity could seek a deficiency judgment from 5 years to 1 year. However, the 20 year time period in which the foreclosing entity could pursue collection of the deficiency judgment remained the same. This provision would put an end to that practice so that is good for homeowners. Lastly, let's remember that the original Uniform Non-Judicial Foreclosure bill proposed by the ULC in 2000 was overwhelmingly rejected by all 50 states.
This bill has been resurrected by several state legislatures since the financial meltdown (including Florida which proposed it verbatim back in 2010) and rejected again. Florida tried for 3 years to get this passed and eventually, redesigned their bill which was ultimately passed."