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10 MERS Certifying Officers

10 MERS Certifying Officers

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Published by acfield13

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Categories:Business/Law
Published by: acfield13 on Jul 22, 2011
Copyright:Attribution Non-commercial

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07/31/2013

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MERS Certifying Officers &
the Corporate Resolution
Management System
Richard AndersonJay Arneja
 
MERS Corporate Resolution
Introduction
Purpose of resolution
Usage and authority
Corporate resolution vs. power of attorney
 
Sample Corporate Resolution
Be it Resolved that the attached list of candidates areofficers of 
<insert name of company>
a Memberof Mortgage Electronic Registration Systems, Inc. (MERS), and are hereby appointed as assistantsecretaries and vice presidents of MERS, and, as such, are authorized to
:
(1)release the lien of any mortgage loan registered on the MERS System that is shown to be registeredto the Member;(2) assign the lien of any mortgage loan naming MERS as the mortgagee when the Member is also thecurrent promissory note-holder, or if the mortgage loan is registered on the MERS System, isshown tobe registered to the Member;(3) execute any and all documents necessary toforecloseupon the property securing any mortgage loanregistered on the MERS System that is shown to be registered to the Member, including but not limited
to (a) substitution of trustee on Deeds of Trust, (b) Trustee’s Deeds upon sale on behalf of MERS, (c)
Affidavits of Non-military Status, (d) Affidavits of Judgment, (e) Affidavits of Debt, (f) quitclaim deeds, (g)Affidavits regarding lost promissory notes, and (h) endorsements of promissory notes to VA or HUD onbehalf of MERS as a required part of the claims process;(4) take any and all actions and execute all documents necessary to protect the interest of the Member,the beneficial owner of such mortgage loan, or MERS in anybankruptcyproceeding regarding a loanregistered on the MERS System that is shown to be registered to the Member, including but not limitedto: (a) executing Proofs of Claim and Affidavits of Movantunder 11 U.S.C. Sec. 501-502, Bankruptcy Rule3001-3003, and applicable local bankruptcy rules, (b) entering a Notice of Appearance, (c) vote for atrustee of the estate of the debtor, (d) vote for a committee of creditors, (e) attend the meeting of creditors of the debtor, or any adjournment thereof, and vote on behalf of the Member, the beneficialowner of such mortgage loan, or MERS, on any question that may be lawfully submitted before creditorsin such a meeting, (f) complete, execute, and return a ballot accepting or rejecting a plan, and (g)execute reaffirmation agreements;
 
Must beofficer of yourcompanyLimitation: mayonly executedocuments forloans registeredto your companyPara. 3 thru 7break outspecific typesof documentsa MERSofficer mayexecute

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