Chris Peterson Professor of Law at the University of Utah's Law School discussing before congress some of the issues relating to a circumvention of property rights using the shell corporation MERS by the banking industry. What we need to recognize is that this was not only an affront to our county and municipal coffers this was a ruse to take a transparent system of public record and make it opaque for the benefit of trading and selling individual property. The issue we have now is that without qualifying the banks standing in a foreclosure homeowners could potential receive claims from multiple individuals or entities that all suggest an ownership of their mortgage proceeds. If clear standing isn't presented how is a homeowner to know who legitimately to pay off in order to fulfill their obligation?
http://www.youtube.com/watch?v=8VpCUfC9k6M
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