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  • MERS Exits Stage Left

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    rifishman
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    MERS, a company that tracks ownership of home mortgages, has announced it will require its members to no longer foreclose using MERS' name. This comes after a judge found MERS has no right to transfer mortgages. MERS is proposing an amendment to its membership rules for a 90-day comment period that would prohibit foreclosures in MERS' name. It is encouraging members to only foreclose using the name of the note holder, trustee, or servicer acting on behalf of the trustee instead. This effectively means MERS has exited the US mortgage scene by no longer allowing its name to be used in foreclosures.

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    MERS, a company that tracks ownership of home mortgages, has announced it will require its members to no longer foreclose using MERS' name. This comes after a judge found MERS has no right to transfer mortgages. MERS is proposing an amendment to its membership rules for a 90-day comment period that would prohibit foreclosures in MERS' name. It is encouraging members to only foreclose using the name of the note holder, trustee, or servicer acting on behalf of the trustee instead. This effectively means MERS has exited the US mortgage scene by no longer allowing its name to be used in foreclosures.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
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    63 views2 pages

    MERS Exits Stage Left

    Uploaded by

    rifishman
    MERS, a company that tracks ownership of home mortgages, has announced it will require its members to no longer foreclose using MERS' name. This comes after a judge found MERS has no right to transfer mortgages. MERS is proposing an amendment to its membership rules for a 90-day comment period that would prohibit foreclosures in MERS' name. It is encouraging members to only foreclose using the name of the note holder, trustee, or servicer acting on behalf of the trustee instead. This effectively means MERS has exited the US mortgage scene by no longer allowing its name to be used in foreclosures.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
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