‘MERS? It May Have Swallowed Your Loan’

“Judges, lawmakers, lawyers and housing experts raising piercing questions about MERS, which stands for Mortgage Electronic Registration Systems, whose private mortgage registry has all but replaced the nation’s public land ownership records. Most questions boil down to this:

How can MERS claim title to those mortgages, and foreclose on homeowners, when it has not invested a dollar in a single loan?”

read it here:

http://www.nytimes.com/2011/03/06/business/06mers.html?hp=&adxnnl=1&adxnnlx=1299351645-2gd/jwgN6p9HqQkBP5NzJw

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