8/7/2019 Mortgage Mayhem and Mers 3

http://slidepdf.com/reader/full/mortgage-mayhem-and-mers-3 1/4

MORTGAGE MAYHEM AND MERS,HOT TUBS, AND THE FBI

PART 3 of 3

 By Marilyn M. BarnewallOctober 31, 2010NewsWithViews.com

Has America’s financial services industry been totally and criminally corrupted?

I think the best description of how America’s economy is structured and how such a structuremight allow fraudulent activities is contained in a series of three relatively short videos done byDamon Vrabel. He explains how the economy works in such understandable terms, I highlyrecommend viewing the videos. Here are links. Video one, Video two, and Video three. If youwant to understand our economy, they are well worth your time! Bio.

The Obama Administration refused this week to support a national halt to foreclosures until thefraud can be identified, isolated, and dealt with in a lawful manner. Politicians aren’t interestedin “Constitutional” and “Lawful.” Those cards – and several others – have been left out of the political deck, it appears.

President Obama’s spokesman, Housing and Urban Development (HUD) Secretary ShaunDonovan, said last week that mortgage fraud problems do not pose a “systemic” threat to thefinancial system.

What do his words really mean? What he is saying is that there is so much evidence the financial

system accepts fraudulent acts as its norm, no threat is posed to the system by the fraud. HUDreviewed the “paperwork” problem to see if it posed a threat to banks. Excuse me, Mr. Donovan, but the threat posed is to Americans who have been victims of the foreclosure frauds. The banksthat caused the problems be damned!

“We will not tolerate business as usual,” Secretary Donovan said. That sounds very much like aconfession that “business as usual” is so unlawful, it has finally become intolerable.

On October 23rd, an expert I hold in high esteem, Professor William Black, University of Missouri, the senior regulator investigating the savings and loan crisis of the 1980s, declared thatdespite massive fraud by bankers, no one is being charged. He estimates the foreclosure crisiswill cost about $10 trillion – yes, trillion with a “t.”

Black said “This is a crisis that we know empirically involved millions of fraudulent mortgages being made. We know that the losses are out there. We know that the industry extorted FASB togimmick the accounting rules, so they didn’t have to recognize the losses. We know that the Fedhas huge positions as collateral in these fraudulent mortgages. We’ve seen the Fed, Ambac,Fannie, Freddie, Pimco, Blackrock – all putting back after investigating tens of billions of dollarsof mortgages and saying, these were sold under false representations and warranties – frauds and

8/7/2019 Mortgage Mayhem and Mers 3

http://slidepdf.com/reader/full/mortgage-mayhem-and-mers-3 2/4

absolutely no one has gone to jail for it.” (Note: FASB means Financial Accounting StandardsBoard.)

Professor Black points out that in the savings and loan debacle (which he notes is perhaps 1/40ththe size of current mortgage fraud), they got over a thousand priority felony convictions of theelites – not bank tellers, “elites.”

The Mortgage Bankers Association defines mortgage fraud thus:

“Mortgage fraud is defined as material misrepresentation – intentionally providing falseinformation to deceive or mislead a lender into extending credit beyond the limits of what wouldnormally be extended if the facts were known. Information or documentation is considered falseif there is clear and convincing data that the information or documentation lacks truth or accuracy.”

According to this definition, lenders, not people unlawfully foreclosed on, are the victims! Thissays mortgage fraud occurs when consumers who want mortgages lie to lenders on loanapplications. That’s true – but it’s only about 1/10th of the story. How many of the examplesgiven in Parts I and II of this article involve liar loans? None. The MBA definition of mortgagefraud covers the backsides of those companies who made liar loans to sell to Wall Street brokersso they could create worthless derivatives that have bankrupted the world.

This is the government your tax dollars supports.

Professor Black states that “the FBI formed a partnership with the Mortgage BankersAssociation, the trade association of the perps.”

Could that be true? Is the FBI in bed with the MBA?

The FBI Web site in March 2007 said “Today the FBI and the Mortgage Bankers Association

(MBA) entered into an agreement to combat Mortgage Fraud. The FBI and the MBA will makeavailable a Mortgage Fraud Warning Notice as a proactive means of educating consumers andmortgage-lending professionals of the penalties and consequences of this criminal activity.” As Iread those words, The Mortgage Fraud Warning Notice told borrowers they would be guilty of mortgage fraud if they lied when applying for a loan -- as people did (and were encouraged todo) when applying for liar loans.

Question to the FBI: Where is your Warning Notice to mortgage lenders who create a computer system that acts as a lien holder by proxy and destroys the reliability of our property registrationrecording system – and unlawfully forecloses against homeowners?

It is impossible that the MBA and the FBI did not know about MERS. It is impossible the reportsof consumer foreclosure abuse did not reach desks at both organizations. It is impossible thatcomplaints about unlawful foreclosures did not reach the desks of Congressmen and Senatorsfrom those unlawfully foreclosed. So much for the law and “representation.”

Many readers will recall the articles I wrote about how the State of Wisconsin filed fraudulentcharges against Ambassador Lee/Leo Emil Wanta for a civil income tax assessment. I havewritten about the abuses heaped on the head of this American Patriot by the FBI and other 

8/7/2019 Mortgage Mayhem and Mers 3

http://slidepdf.com/reader/full/mortgage-mayhem-and-mers-3 3/4

intelligence agencies for which Lee Wanta once worked. He won’t play their dirty games. Hewon’t compromise his beliefs to get $4.5 trillion of his own money that in 2006 was wired to him by the People’s Bank of China when he sold personal business interests overseas. The fundswere wired – in compliance with a Decision made by Judge Gerald Bruce Lee – to Bank of America in Richmond, Virginia. Yes, that’s the same Judge named in Article II of this series

whose court records involve a hot tub meeting. Yes, it's the same Bank of America against whichinvestors have filed charges for loan appraisal collusion.

It is 2010 and Ambassador Wanta is still fighting to gain access to the $4.5 trillion that waswired to him. This isn't the place for his story. If you want more information, it’s at the blogaddress provided above. The point is, this has been a "story" for a long time, but Wanta fights his battle for justice alone.

Lee Wanta's tie to this particular article? In 1995, Wanta’s home was unlawfully foreclosed byWisconsin authorities. There was no mortgage on the home. Charges had been filed against him – unlawful charges for a civil income tax assessment. That's all it takes: Not proof of guilt, just"an assessment."

How different things might be today if, when the funds one man transferred into the UnitedStates were unlawfully withheld from him, every citizen in the country had written to their Senator and Congressman, demanding this one person be treated lawfully. That’s how they dothings, you know? They fly one false flag to see if the public will allow it. When we do, they flya bigger false flag, next time. Finally, as the greedy always do, they fly a flag so big it kills thegoose that lays the golden eggs. This time around, the goose happens to be named “America’seconomy.”

The mortgage mess makes it very clear how the intelligence agencies have been compromised. If they were not compromised, this kind of fraud could not be carried out with impunity on such a broad scale. As Professor Black suggests, over a thousand arrests were made during the savingsand loan scandal and this is 40 times greater. Why have no arrests been made of mortgagefraudsters? Maybe it’s their Wall Street addresses – or, connections to that address?

It reminds me of the popular email story about when the Nazis came for Jews who werestrangers. Jews and others, including Christians, who didn’t know them ignored the cries for help. Then they came for Jews who were acquaintances, then those who were friends. Still criesfor help were ignored. “Then the Nazis came for me… but there was no one left to cry out to for help.”

We need to pay more attention to individual government abuse. When things are small, they can be stopped. When fraud gains volume and momentum, it’s too late to stop things without causing

a major crisis.

So many innocent people get hurt because we don’t confront those we elect to office. So manyinnocent people could be spared if we cared enough to act rather than sit back and watch andwait for the next headline.

People who think they can avoid confrontation with evil need a good dose of reality. Evil tendsto seek out the non-confrontational.

8/7/2019 Mortgage Mayhem and Mers 3

http://slidepdf.com/reader/full/mortgage-mayhem-and-mers-3 4/4

Will someone be there when you cry out for help?

Click here for part -----> 1, 2, 3,

© 2010 Marilyn M. Barnewall - All Rights Reserved

 Marilyn MacGruder Barnewall began her career in 1956 as a journalist with theWyoming Eagle in Cheyenne. During her 20 years (plus) as a banker and bankconsultant, she wrote extensively for The American Banker, Bank Marketing Magazine, Trust Marketing Magazine, was U.S. Consulting Editor for Private Banker  International (London/Dublin), and other major banking industry publications. Shehas written seven non-fiction books about banking and taught private banking at Colorado University for the American Bankers Association. She has authored sevenbanking books, one dog book, and one work of fiction (about banking, of course). Shehas served on numerous Boards in her community.

 Barnewall is the former editor of The National Peace Officer Magazine and as a journalist has written guest editorials for the Denver Post, Rocky Mountain News and  Newsweek, among others. On the Internet, she has written for News With Views,World Net Daily, Canada Free Press, Christian Business Daily, Business Reform, and others. She has been quoted in Time, Forbes, Wall Street Journal and other national and international publications. She can be found in Who's Who in America (2005-10),Who's Who of American Women (2006-10), Who's Who in Finance and Business(2006-10), and Who's Who in the World (2008).