Mortgage Electronic Registration Systems, Inc. MERS List of MERS Fatal Flaws in California Internet

Under California Law, the named Beneficiary on the Deed of Trust must have ownership of the underlying Note. MERS consistently claims to be only "Holding the Note" as a Nominee for the original lender, never owning the Note.

Why MERS doesn't have ownership of the Note:

1. MERS is a mortgage exchange not unlike a stock exchange. It allows banks to buy and sell home mortgages much like stock.  Stock exchanges don't own the stock on their exchange, only the investors do.
2. Each time the Note is sold, an assignment of the Deed of Trust must be recorded with the County Recorders Office. 
3. A Nominee in California cannot own the Note, 
   Cisco v. Van Lew, 60 Cal.App.2d 575, 583-584, 141 P.2d 433, ***.
4. The original lender never indorses or assigns the Note to MERS
    See Cal Com. Code 3109,3201,3203,****.
5. MERS requires that the owner of the Note never claim MERS as a "Note-Owner"
   MERS Membership Rule 8 Foreclosure, Section 2(a)(i), page 25, 26, see attached below
6. MERS consistently argues in court that it does not own the promissory notes,
   MERS v. NEBRASKA DEPARTMENT OF BANKING AND FINANCE No. S-04-786, see attached below

Deed of Trust is void, without a recorded assignment of the Deed of Trust for each transfer of the Note:

1. MERS Involvement in the loan effectively stripped the deed of trust lien from the land and a foreclosure is not legally possible, Bellistri v. Ocwen Loan Servicing, LLC, 284 S.W.3d 619 (Mo.App. E.D.,2009), attached below
2. Any assignment of the Deed of Trust & Note from MERS to a successor is void and fraudulent.
   RICKIE WALKER, CASE NO. 10-21656-E-11, 5/20/2010 U. S. BANKRUPTCY COURT EASTERN DISTRICT OF CA, see attached below

Therefore, MERS definition of "Holding the Note" is not the legal equivalent of "Owning the Note";

 California Civil Code section 2924 only applies if MERS owned the note.

When a Note is sold, it has to be indorsed the same way you basically sign a check for deposit or cashing.

Under California Law the Note is not a bearer instrument, but an instrument payable only to a specifically identified person, per California Commercial Code 3109; any transfer of the Note requires a legal Negotiation, Endorsement and a physical delivery of the note to the transferee to perfect the transfer, per California Commercial Codes 3201, 3203, 3204. see attached Rickie Walker Order.

Therefore, any attempt to collect by other than the original lender may be impossible without a legal chain of title, because MERS tracking system is not a legal chain of title.