The Problem of Endorsed Mortgage Notes…..


If a Florida mortgage note is endorsed “in blank” (without definite payee) how can it EVER be collected as a debt?  It is like a blank check left on the counter at Starbucks…. it is there for anyone to cash.  This is becoming a recurring theme in Florida mortgage note cases….  Here is the latest Complaint to surface in Florida…..KAGL v SUNTRUST MORTGAGE & JEFFREY P LAWSON COMPLAINT FILED FEBRUARY 12 2010 WPB ; See the endorsed note here: May 23 2003 Lawson Mortgage Suntrust Note ; and the Mortgage Contract Mortgage Suntrust Contract (All Benefit to the Mortgagee, All Costs to the Mortgagor! The standard mortgage contract used across the United States today is NOT a bilateral loan contract at all—in fact there is NOT mutuality of consideration or detriment on both sides).  Finally, is marriage a key element of the consideration and/or condition precedent for the issuance of title insurance?  If not, what is the meaning and significance of this “Affidavit of Continuous Marriage:” Affidavit of Continuous Marriage-Lawson May 23 2003.

There is no doubt about it, the analysis of commercial paper in Florida presented by Judge Walt Logan of the 6th Judicial Circuit in Pinellas County, Florida, in August 2005 when he dismissed 20 MERS mortgage suits at once has never been excelled as an accurate analysis of the problem. It does not matter that Logan’s order was reversed, essentially as stating too absolute a rule against MERS, by the 2nd DCA in 2007 after a hearing in August 2006: Logan’s analysis is SUPERB and in NO WAY changed, altered, affected, or questioned by the technical remand so as not to foreclose MERS forever….Judge Logan’s August 2005 Order on MERS (Pinellas County)

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All of the Banks are “in this business” together, both big and small, and yet Barbara Boxer’s proposal is to help the BANKS (It says so on her website):

http://blog.barbaraboxer.com/?p=712:

Last week, President Obama made headlines when he went to Baltimore to address the House Republican caucus and field their questions. He visited the other side of the aisle Wednesday in a similar format, addressing Senate Democrats and fielding eight questions. Senator Boxer was able to ask the President about helping small banks by redirecting TARP funds. In line with a bill sponsored by Senators Boxer and Merkley, Obama proposed redirecting TARP funds to community banks during his State of the Union address.

As the OC Register reported:

“California is hurting,” Boxer said. “They really want to see a fighting spirit in us.”

Boxer suggested to Obama that he use TARP money for the bank proposal – either money the big banks that got bailed out have paid back or unused TARP funds. Doing it that way, she believes, would be more immediate than waiting for legislation to pass, if it could.

“I do think it’s better to do that through legislation than an executive order,”; Obama said. “TARP was a congressionally-created structure with some fairly stringent guidelines in terms of how we are supposed to approach it.”

The Senate has increased its focus recently on ways to help improve community lending and aid small businesses in job creation. Senator Boxer has been a leading advocate for new job creation and lending programs. More needs to be done, and Senator Boxer remains as committed as ever to ensuring that help reaches California communities instead of getting caught up in Wall Street.

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