Subject: File No. S7-35-11
From: marilyn h Lane
Affiliation: concerned individual

September 5, 2011

The abominable banking system that is in place today, gives a bank great incentive to foreclose on an Ultra Vires contract, as the bank demands lawful money returned for the unlawful money lent.

By what Authority are the Banks doing this? There is no authority for doing this. This is in complete prohibition to Art 1 Para 10 Cl1 of our US Constitution.

All of our cases with slightly different facts all stem from the same Fraud.
The Bank did not lend you LAWFUL MONEY but the Bank intentionally wrote
a bad check and gave it to you –to circulate as money

I certainly did not know this kind of fraud was going on when I signed my mortgage and note. Did you?

The Mortgagor puts up a down payment, the Mortgagor pays a lot of fees and probably paid an attorney to represent them, all in order to get this bad check

Would a Mortgagor have put in all that money, if one knew the truth of how the Banks ran their illegal business. I bet not.

Did anyone notify you after that big day – the Banks check bounced – of course not. When the check that the Bank wrote came back to the Bank that wrote it, the bank didnt say we only have 5% , if that much and it was not stamped insufficient funds the bank stamped it paid

So since the Bank did not have the money sitting in the banks account when they wrote the check, what the bank gave you is their credit.

That is exactly what is prohibited by Art. 1 Para 10 Cl 1 of the US Constitution.

What authority gives the Bank the right to make contracts with bad checks

Nothing- Nada.

Lawful money is needed to make a contract valid.

Over and Over Mortgagors gave a Bank a mortgage on their castle , in return for a Bank giving you a credit entry on their books and charging you Interest on this credit. Also illegal.

Did the Bank give you lawful money or is that what you got, credit?

Banks are not allowed to lend their credit- Banks are in the business to lend
lawful money There is not a Bank charter that allows a Bank to lend their credit.

And as we continued to make monthly payments the Bank collected more money on their fraud.

You try writing a check when you dont have funds sitting in your account to cover it.
You can be sure that check is coming back markedinsufficient funds You are not allowed to do it and either is a Bank.

This scam of Ultra Vire contracts caused injury to us, the true homeowners.

In addition the banks are laundering bad checks.

The Banks violate Truth in Lending Laws.

The Banks are collecting Interest on money that doesnt exist. (Lending you 5% and collecting Interest on 95% of thin air)

And once the Bank gets their Ultra Vire contract going, they start flipping them to MERS, Securitizations , Wall Street, Title Companies etc. there is no shortage of people all wanting to get their piece of the illegal profits.