Search for: "Mortgage Electronic Recording Systems (MERS)"
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19 Apr 2011, 12:41 pm
The Office of the Comptroller of the Currency (“OCC”), the Office of Thrift Supervision (“OTS”), and the Federal Reserve have apparently concluded their investigations into the mortgage servicer and supporting firm practices… including allegations of “robo-signing”, and have announced formal enforcement actions against fourteen servicers and two related servicer providers, Lender Processing Services (“LPS”), and the Mortgage… [read post]
12 Apr 2011, 6:30 am
In what is becoming a bit of a trend, another state official has come to the realization that counties and states nationwide has been robbed of millions of dollars in recording fees through the use of the Mortgage Electronic Registration Systems, Inc. [read post]
4 Apr 2011, 2:21 pm
Freddie Mac will no longer allow loan servicers that are managing Freddie loans to foreclose on a piece of property in the name of Mortgage Electronic Registration Systems, Inc. [read post]
16 Mar 2011, 9:13 am
As we reported recently on our Miami Foreclosure Lawyer Blog, MERS is the electronic mortgage tracking system, which was instituted so that banks and mortgage companies could package and sell mortgages as Wall Street investments. [read post]
12 Mar 2011, 7:39 am
”In 2010, the Arkansas Supreme Court ruled that MERS (Mortgage Electronic Registration Systems) Corporation was prohibited from filing foreclosures in that state.A federal bankruptcy judge in Long Island ruled just last week that MERS could not act as the “agent” of the mortgage note owner. [read post]
8 Mar 2011, 5:10 pm
In 2005, the plaintiff took a $511k loan secured by a deed of trust on property in Lagunitas, California held by the Mortgage Electronic Recording System (MERS). [read post]
8 Mar 2011, 6:20 am
”In 2010, the Arkansas Supreme Court ruled that MERS (Mortgage Electronic Registration Systems) Corporation was prohibited from filing foreclosures in that state.A federal bankruptcy judge in Long Island ruled just last week that MERS could not act as the “agent” of the mortgage note owner. [read post]
6 Mar 2011, 2:52 pm
A review of the article reveals that MERS (the Mortgage Electronic Registration System) is a murky attempt by banks to create their own nationwide county clerk within which mortgages can be assigned and traded like an electronic stock exchange. [read post]
6 Mar 2011, 12:43 pm
Image via Wikipedia By MICHAEL POWELL and GRETCHEN MORGENSON Published: March 5, 2011 “…Judges, lawmakers, lawyers and housing experts are raising piercing questions about MERS, which stands forMortgage Electronic Registration Systems, whose private mortgage registry has all but replaced the nation’s public land ownership records. [read post]
5 Mar 2011, 2:44 pm
MERS stands for Mortgage Electronic Registration System. [read post]
5 Mar 2011, 1:22 pm
If you are a homeowner, chances are that the current owner of your mortgage is an entity known as MERS (Mortgage Electronic Recording System). [read post]
2 Mar 2011, 5:15 am
A funny proposal about instituting a MERS like system to replace the traditional marriage recording system has been floating around recently and it shows just how arbitrary, ineffective and useless MERS actually is. [read post]
2 Mar 2011, 4:13 am
And mortgages are already being electronically recorded in several Massachusetts counties. [read post]
1 Mar 2011, 8:00 am
Massachusetts homeowners, banks, and real estate practitioners will be well-served to note a recent bankruptcy court decision holding that the Mortgage Electronic Registration System (MERS) does not have the right to assign mortgages under New York law. [read post]
24 Feb 2011, 8:37 pm
MERS, in case you’ve been incarcerated in a Turkish prison over this past year, is an industry-owned organization that maintains a database containing more than 50% of all mortgages, that claims to be able to represent the trustees that conduct foreclosure auctions on behalf of lenders. [read post]
22 Feb 2011, 11:32 am
Many home lenders use an entity called Mortgage Electronic Registration Systems, Inc., or “MERS” as a nominal party in loan transactions to facilitate an electronic central registry of note holders and servicers. [read post]
17 Feb 2011, 5:38 am
As the Wall Street Journal reported Feb. 14, a federal bankruptcy court judge in New York has ruled that the Mortgage Electronic Registration Systems, the huge electronic mortgage database company created by a group of major lenders, has no right to transfer mortgages under New York law. [read post]
15 Feb 2011, 6:15 pm
Critics of MERS say the electronic database has also enabled banks to avoid paying county recording fees whenever they assign a loan. [read post]
15 Feb 2011, 12:57 pm
The case is In Re Agard (click here to download), and essentially throws a huge monkey wrench into a hugely important cog of the entire U.S. mortgage market, the Mortgage Electronic Registration System, Inc. known as MERS. [read post]
14 Feb 2011, 7:07 am
Bank holds in the underlying mortgage was received by way of an assignment from the Mortgage Electronic Registration System a/k/a MERS, as a “nominee” for the original lender. [read post]
