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To: Ilaine who wrote (71195)	2/22/2011 10:22:43 PM
From: Hawkmoon	Read Replies (1) \| Respond to of 218700

MERS just a clearinghouse, operating a database, as far as I can tell. They don't loan the money, they are just agents for the ones who do. They aren't even the agents, which is the crux of that court ruling. MERS was created to circumvent the traditional method of recording Real Estate transactions, the recorders office in each respective county. And if the documents related to originating the loan, separating the note from the deed, and transferring them from MBS to MBS are not in legal order (recorded properly) then the note technically becomes an unsecured debt. If it's an unsecured debt, the whole basis of Foreclosure is rendered moot as it's status as collateral was legally nullified upon the first selling of the note. That's the crux, as I've been understanding the legal argument about the very legitimacy of MERS. Hawk