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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: SouthFloridaGuy who wrote (102379)	9/22/2009 10:00:47 PM
From: John Metcalf	12 Recommendations Read Replies (2) \| Respond to of 116555

"do you know something Mr. LIBOR doesn't?" Here's a Kansas Supreme Court decision I learned about today. The decision was handed down on August 28. Capsule version: the originator of the mortgage has no standing to foreclose, because it has assigned its rights to the mortgage contract and has been paid in full. The presumptive assignee/s has no foreclosure right unless it can produce a contract and defend it in court. The presumptive agent (Mortgage Electronic Registration Systems) has no standing to foreclose because it never was a party to the contract. Over half of US mortgages are recorded in the name of MERS, 60,000,000 mortgages. businessinsider.com Wow.