MERS and Mortgage Bankers: Too Smart for their own Good
MERS was a company formed by the mortgage banking industry to act as the lenders' 'nominee' for recordation of mortgage-backed securities, which were continuously changing hands. Now courts in several states have refused to recognize MERS' standing to bring a foreclosure action against defaulting mortgagors.
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Attorney/Owner, Freelance Law Firm, legal research/writer for real estate & business lawyers, avid blogger and social media/networking researcher & advocate.
Attorney/Owner, Freelance Law Firm, legal research/writer for real estate & business lawyers, avid blogger and social media/networking researcher & advocate.
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