Subject: File No. S7-02-10
From: Todd Schmidt
Affiliation: 30-yr eminent domain work, certified appraiser 20-yrs, Expert Witness, 1997 Appraisal Foundation IRP, BS/BA, Logic/Critical Thinking Education Background, former USPAP instructor

January 19, 2010

I implore your shutdown of MERS/Members. Disband it, NOW.
Keep up to date:
For 226-yrs, 160-yrs in WI, we could openly prove ownership
and interests via public record and rely on accurate, paid fees for local/WI taxes from deeds, transfers, assignment.
Since MERS we have lost all that and so much more, some say $300T is at market risk from their electronic StrawMan Shell-Game bait switch fraud (as I call it). MERS Rules 8 9 evidence MERS never assumes liability: never holds Title nor handles money exchanges (money, not credit is legal tender of mortgage loans) nor acts as forecloser, as they conveniently shuffle their keyboard between 'servicer'
and 'beneficiary' and 'lender' and 'owner of Note' semantic
games ... all the while never showing us the true "Nut".

Without our ink-signed (blue in WI) promissory Note none of them can legally foreclose, yet they take an American's home with slick servicer lawyer speak. Your selves and local judiciates must access those 2-websites. Understand what is happening, with MERS at the center of the devilish game undermining the very integrity of our commerce. The downward spiral will continue they'll not provide our public comply with our President Obama's demand for complete Transparency if this buffalo and smoke-screen fraud is allowed to continue. We are a nationwide system setup for paper recording since teh late 1700's.

Here's the scenario, in simple. I don't get to sell you a bike on terms, then sell the tires brakes wheels chain interests for profit when I don't even possess the bike or Note we signed agreeing to the sale. Then when I have no more bikes to sell have spent all my money I then don't get to plead to you for your money to bolster my bike business because then I can service your bikes better, but if you miss a payment then I'll take your bike and also keep the profits from my behind the scene hyped up sub-sales of the wheels chain seat for up 30x the original worth telling someone you'll never know the parts
are more valuable because people really want need them. And just because I kept my records on a computer and won't share them with anyone else, so none of the parties could ever prove the back-alley deals as I never told anybody else (see the value of public record transfer fees taxed for chain-of-title at work now?), let alone those who paid me so much for the parts ... oh yeah, then I keep your bike, resell it again do it all over since you are now broke there are no bike jobs I damaged your credit at TransUnion and EquiFax so don't ask me for any more bikes.
NOTE: replace 'bikes' with 'homes' and see the $ add up.

Such conspiracy to defraud the US economy is why MA BELL was disbanded. Then remember the wonderful decade of huge growth of business and jobs from cellular, DSL, etc.?
This is what's happening with MERS. Even children know its wrong and its cheating the original buyer when they can't even prove an owned debt but are supposedly the #1 money savvy bankers in the world Who loses the most vital part of their debt or assigns it to others for profit but
can't prove it, then asks the teacher to please reinstate
their homework so the other students get cheated I don't?

Each week more small lender-banks enter MERS with promising
ruse of "saving $30-$60 fees each time a loan is sold or transferred". Since when does this small $11M/yr company of 40, with high tech software built by former Countrywide execs take precedence over US economic (eminent domain?) security and be allowed to evade local/State tax coffer Statutes as we 300M citizens suffer? Then we borrow them $100Bs to bolster their solvency? It's absurd. Do you know 1970 Uniform Act? It states clearly that any Gov't-funding backed lender/bank who acts to acquire a property is so acting as condemnor and thus makes the USGovt co-condemnor
Where is the greater public good need served by this?
When the banks accepted the Gov't funding it came with a few caveats one big one for me is that they bolster USA economy, not further destroy our individual credit then tell us we don't qualify to borrow our own money for food, shelter or to rebuild our businesses community trust. The real owners of Note is the Trust or investors. As maker signer, people can rescinding their mortgages for TILA, RESPA, UCC Sec-3, FCRA, USPAP etc violation yet many are losing their homes to agents hired to do dirty work for servicer/banks not even holding Note to legal foreclosure or they use paid attorneys. Please, inform the judiciate to look out for MERS transaction on mortgage docs

Uniform Act condemnation means: 1) proven public need for our homes, for a greater public benefit, such as roadways 2) Before/After buyout appraisals to estimate compensation based on fair market value (vs foreclosure and recapture based on a preferred-broker CMA) 3) relocation assistance and payments, 4) payment in MONEY (not credit as per MERS swaps and BiLateral Netting which was never exposed to the buyer/borrower) and assistance in locating purchase of a use/value equivalent property for displaced homeowners ... huge liability?

I've no problem with profits. Americans are not lazy, too.
So where is the collateral sharing (help) from these banks we bolstered up with our tax dollars? Family stability is
out the door when the father can't maintain self worth and
provide for the family as the economy plunges. Local and State and Federal Gov't all need to bolster human services and courts become inundated with drunk driving, domestic violence, divorce and theft as a result ... so busy judges
don't have time to unravel MERS. As Winston Churchill so aptly described the schizophrenic nature of Russia and its self-abuse of the individual by its social system: it's a riddle, wrapped in a mystery, surrounded by an enigma" .. whereby the system is setup to hide the players, as the members refuse to name names.