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MA Register of Deeds John O’Brien to State Treasurer | Stop Using Bank of America for County Deposits of $25 Millon a Year Because of MERS
Just imagine if a few hundred more counties did this...
JOHN L. O'BRIEN, JR.
Register of Deeds
Phone: 978-542-1704
Fax: 978-542-1706
website: www.salemdeeds.com
Commonwealth of Massachusetts
Southern Essex District Registry of Deeds Shetland Park
45 Congress Street
Suite 4100
Salem, Massachusetts 01970
NEWS
FOR IMMEDIATE RELEASE
Salem, MA
April 4, 2011
Contact:
Kevin Harvey, 1st Assistant Register
978-542-1724
kevin.harvey@sec.state.ma.us
Register O’Brien requests Massachusetts State Treasurer Grossman to Pull Bank of America Funds
Following last nights 60 Minutes expose on the Mortgage Paperwork Mess (view at www.salemdeeds.com
) Southern Essex District Register of Deeds, John O’Brien announced
that he has written to Massachusetts State Treasurer, Steven Grossman.
He has asked that the Treasurer change depository banks. Register
O’Brien has specifically asked the Treasurer to place all deposits from
his Registry into a local, non-MERS bank that follows the
Massachusetts Land recordation rules. On an annual basis the Southern
Essex District Registry of Deeds deposits approximately $25 million
dollars into Bank of America.
O’Brien, who is leading a
nationwide effort against the Mortgage Electronic Registration System
(“MERS”), of which Bank of America is a major shareholder asserts that
Bank of America, along with the other MERS member banks have failed
to record assignments and pay the associated fees and in doing so has
deprived the taxpayers of millions of dollars in lost revenue.
O’Brien estimates that in his county alone the amount is over $22
million dollars and that, he adds, is a very conservative estimate.
According to O’Brien, the loss of revenue to the Commonwealth of
Massachusetts could be as high as $200 million dollars and to the
nation, possibly in the billions.
O’Brien, who has asked MERS and
their lender banks to come clean, open their books, and provide a
full public accounting as to how many times and to whom they have sold
consumers’ mortgages said, “Perhaps when these lenders lose millions
of dollars in deposits, they may begin to understand the seriousness
of their actions. It seems to me that their business model which has
been referred to as “fees for thee, not for me” needs to be
abolished.”
O’Brien further stated, “I find it extremely ironic,
that the chief executive of Bank of America, who just last week
received a $10 million dollar bonus continues to allow his bank to
participate in this scheme. A scheme which has compromised the
integrity of the land recordation system in Massachusetts. MERS has
defended their practices by saying that they were helping the
registries of deeds by reducing the amount of paperwork that needed to
be recorded. This claim is outrageous. This is help that I did not
need, nor did I ask for. It is very clear to me, that the only ones
that they were helping were themselves, which I find shameful. For us
to continue to reward these banks by depositing taxpayers’ money into
them, is clearly not the responsible thing to do.”
O’Brien said
he is reaching out to Registers’ of Deeds in Massachusetts and across
the nation to ask them to join with him and encourage their state and
county governments to follow his initiative and withdraw public funds
from MERS’ member banks. O’Brien said, “By doing this we will send a
resounding message that government officials are no longer going to
stand by and continue to allow MERS and their joint venture banking
partners to profit at the expense of the very same people that they
are abusing."
www.4closureFraud.org
»
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if the cops dont put people prison for breaking the law... well then hell i guess we'll all wait for the press to stop talking about it
.
annoying isnt it
Sent an e mail to the State Treasurer encouraging him to do it for the entire state. I also said he should avoid the Largest International Banks that are the masters of corruption.
I'm going to fax Registrar O'brien tomorrow to thank him on my business letterhead. I'm a payer of taxes in Taxachusetts that raised the sale's tax last year from 5% to 6.25%. You know how it goes, less money rolling in to the State coffers 'cause business is so shitty. The obvious solution is just squeeze more from the ones that can still buy something.
All O'Brien did was to 'ask' the state treasurer to switch state funds.
We must await the treasurer's decision, if indeed he goes beyond ignore the issue.
Does anyone know the cost of switching banks at a state level?
Not holding my breath on this one.
It doesn't sound like BoA is a sound financial institution anymore.
Thank you.
Forwarded this to my own County Supervisor
The 50 State AGs arranged a "settlement" with the bankstas, in essence, aiding and abetting the bank fraud. If we can't count on the federal prosecutors and the state prosecutors, then let justice ring forth from the County Registers of Deeds across the land.
Agreed.
Sooner or later, by design or the force of misconduct, the malfeasance will end on the doorstep of the average citizen, who will promptly throw it back in the face of Wall Street and Washington.
Yes, it will take time, but time is all we have to awaken the slumbering.
"they were helping the registries of deeds by reducing the amount of paperwork that needed to be recorded"
Sure, it would have been a lot tougher to slice and dice the mortgages up and pass this toxic crap off as AAA without it.
While their at it, maybe quit buying government vevhcles from Garbage Motors and Chisler Motors also.
So $25,000,000 that BoA gets to fractionally reserve/lend = ~$2,250,000,000 balance sheet problem.
nice
Careful what you ask for O'Brien. Massachusetts ain't the Enterprise it used to be.
this is how it gets corrected - one county at a time. the local level matters the most. i can hardly wait for the day when no one will play with the banksters anymore. can't happen soon enough imo.
anyone see this video from the english courts this past march? be sure to turn the volume down, it's loud for the first few minutes. about mid-way the laymen finally has enough quiet to explain what they are doing to the court and the magistrate. this needs to happen in america and the sooner the better!
http://www.myvidster.com/video/1227628/ENGLISHMEN_ARREST_AN_UNLAWFUL_COM...
Isn't Salem where they burned witches back in the day? I'm just saying....
Yes sir, you got that one right. I think we need to start up again but this time by burning the warlocks of government and finance that have been casting spells around the world.
The blurb on the front page gives the mistaken impression that O'Brien is a state official.
We don't have state registries of deeds here in Massachusetts. They're all county run. O'Brien's the registrar of deeds at the Southern Essex county registry of deeds.
Not trying to diminish the guy or his office. I like his statement. But accuracy counts.
Indeed, we don't. But it's easy to find out who one's country register of deeds is, and encourage him or her to make a similar switch.
I plan to do so this evening. I hope they all find several hundred emails waiting for each of them in the morning.
John Obrien is planning to run for higher office. Nothing better to start a democrat political career than to take a stand for the poor downtrodden. He is a democrat isn't he? that's how they roll when they have political ambitions.
Yes...please!
Ignore anything good someone might be trying to do by bringing in the tired partisan political arguments.
Typical.
John O'Brien for President - A Public Official with INTEGRITY? Put him on the endangered species list IMMEDIATELY - Thank God - Take that Bernank & Geithner - THAT IS WHAT INTEGRITY LOOKS LIKE!!!
Actually, the way the system works is that the FEDS throw him in jail for the next 15 years for "starting/causing a run on a bank".
There is no true justice in America when the corrupt banks have the govt on their side.
thank you MA. we have a similar effort underway here in Maine to cease doing business with all of the big six.....
and try to start the Bank of Maine, similar to the Bank of North Dakota.....
the more that we can support efforts like this one, the less power the majors have to continue raping the American public deaf, dumb and blind.
and atta'boy to your new gov. almost like a real Maina' Implosion gonna be hard in the County. But will chase out a lot of "oth'as".
don'tcha know.
- Ned