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Mortgage Electronic Registration Systems, Inc. (MERS) is an American privately held corporation. MERS is a separate and distinct corporation that serves as a nominee on mortgages after the turn of the century and is owned by holding company MERSCORP Holdings, Inc., which owns and operates an electronic registry known as the MERS system, which is designed to track servicing rights and ownership ...
The Mortgage Electronic Registration Systems, known as MERS, is a privately held company that operates an electronic registry designed to track servicing rights and ownership of mortgage loans in the United States.
Much has already been written about the Mortgage Electronic Registration System -- the mortgage industry's effort to avoid paying local governments hundreds of millions of dollars in fees while ...
Petersen detailed how the banks, Fannie Mae, Freddie Mac and Ginnie Mae destroyed America's land-record system, a method of tracking property sales that's existed since colonial times. Instead ...
eMortgage. An eMortgage is an electronic mortgage where the loan documentation is created, executed, transferred and stored electronically. In the United States eMortgages are made legally enforceable by the Electronic Signatures in Global and National Commerce Act and the Uniform Electronic Transactions Act.
A foreclosure occurs when a lender takes control over a property from a borrower for failing to make timely payments. A foreclosure can damage your credit score and result in loss of property. As ...
Landmark National Bank v. Kesler is a Kansas Supreme Court case involving the standing, rights, and interests of Mortgage Electronic Registration Systems (MERS). On August 28, 2009, the court held that all indispensable parties must be identified and that the actual lender identified in foreclosure actions to protect each party's rights.
Now, instead of notifying county governments every time a mortgage changes hands -- and paying a $15 filing fee -- banks register those changes with MERS for free.