Procedures Manual
Release 19.05
June 14, 2010Draft
MERS Procedures Manual – Release 19.05–6/1
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Contents
Introduction 1
Purpose ................................................................................................................... 1
Structure .................................................................................................................. 2
Membership in MERS 3
Overview .................................................................................................................. 3
Impact ...................................................................................................................... 3
Business Procedure ............................................................................................... 3
Using a Third Party Originator ............................................................................... 4
Reports .................................................................................................................... 5
System Security 6
Overview .................................................................................................................. 6
Impact ...................................................................................................................... 7
Business Procedure—MERS ................................................................................. 7
Business Procedure—Member .............................................................................. 7
Business Procedure—When Using Third Party Service Providers .................... 9
Business Procedure – Associated Member ......................................................... 9
Reports .................................................................................................................. 10
Business Procedure — My MERS ....................................................................... 11
Business Procedure — Transaction Default Settings ....................................... 12
Reports .................................................................................................................. 12
Member Information 13
Overview ................................................................................................................ 13
Impact .................................................................................................................... 14
Business Procedure—MERS Member ................................................................. 14
Business Procedure—MERS ............................................................................... 16
Reports .................................................................................................................. 17
Business Procedure - Member Lockout ............................................................. 17
Reports .................................................................................................................. 17
Member Corporate Name Changes 19
Overview ................................................................................................................ 19
Impact .................................................................................................................... 19
Business Procedure ............................................................................................. 19
Reports .................................................................................................................. 20
MERS Procedures Manual – Release 19.05–6/1
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Mortgage Identification Number (MIN) 21
Overview ................................................................................................................ 21
Impact .................................................................................................................... 22
Business Procedure for Creating a MIN ............................................................. 23
MERS Loan Registration 25
Overview ................................................................................................................ 25
Impact .................................................................................................................... 27
Business Procedure – Initial Registration .......................................................... 28
Business Procedure – Post-Closing Registration ............................................. 32
Business Procedure – Re-registration after Reversal ....................................... 33
Business Procedure – Re-registration after Deactivation ................................. 34
Reports .................................................................................................................. 36
MERS
®
iRegistration 37
Overview ................................................................................................................ 37
Impact .................................................................................................................... 38
Business Procedure – iRegistration ................................................................... 39
Business Procedure – Post-Closing iRegistration ............................................ 42
Business Procedure – iRegistration after Reversal ........................................... 43
Business Procedure – iRegistration after Deactivation .................................... 44
Reports .................................................................................................................. 45
Conversion from iRegistration to Non-MOM 46
Overview ................................................................................................................ 46
Impact .................................................................................................................... 46
Business Procedure ............................................................................................. 46
Reports .................................................................................................................. 48
Pre-Closing Registration 49
Overview ................................................................................................................ 49
Impact .................................................................................................................... 49
Business Procedure – Pre-Closing ..................................................................... 50
Business Procedure – Pre-Closing after Reversal ............................................ 52
Reports .................................................................................................................. 53
Registration Reversal 54
Overview ................................................................................................................ 54
Impact .................................................................................................................... 54
Business Procedure ............................................................................................. 55
Reports .................................................................................................................. 55
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