In Re Sutter Appeal in Michigan – No Mortgage Exists

In Re Sutter Appeal in Michigan – No Mortgage Exists

By Daniel Edstrom
DTC Systems, Inc.

Here is another case of a fabricated loan document.  Appellants U.S. National Bank and Saxon Mortgage Services, Inc., appeal the order of the district court overturning a judgment of the bankruptcy court granting them an equitable mortgage on property owned by Debtors Daniel and Sheryl Sutter.  The appeals court decision summary:

The district court correctly held that no mortgage, equitable or otherwise, exists on the Sutters’ property. Therefore, we AFFIRM the judgment of the district court..

Download the order here: http://dtc-systems.net/wp-content/uploads/2012/01/Daniel_Sutter_v._U.S._National_Bank_Forged_Mortgage.pdf

Appeals Court Ruling Against MERS in Michigan Reverses District Court Non-Judicial Proceedings

Appeals Court Ruling Against MERS in Michigan Reverses District Court Non-Judicial Proceedings

By Daniel Edstrom
DTC Systems, Inc.

Selected excerpts:

These consolidated cases each involve a foreclosure instituted by Mortgage Electronic Registration System (MERS), the mortgagee in both cases. The sole question presented is whether MERS is an entity that qualifies under MCL 600.3204(1)(d) to foreclose by advertisement on the subject properties, or if it must instead seek to foreclose by judicial process. We hold that MERS does not meet the requirements of MCL 600.3204(1)(d) and, therefore, may not foreclose by advertisement. 

MERS would purportedly track the mortgage sales internally so as to know for which entity it was holding the mortgage at any given time and, if foreclosure was necessary, after foreclosing on the property, would quit claim the property to whatever lender owned the loan at the time of foreclosure.

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