This is a pretty funny article about MERS and how it is mostly a full of it mortgage/note handling process that bilks county recorder out of millions in recording mortgage docts per year, plus it can often create havoc in foreclosure/assignment/purchase cases.
New Bankruptcy Court Decision Sounds the Alarm – The USS MERS is Going Down
Before I jump into this decision by a U.S. Bankruptcy Court Judge in New York, I just want to acknowledge that I very rarely write about MERS. And it’s not an accident; I’ve chosen not to do so… until now, anyway.
Perhaps I’ve been wrong not to cover the MERS debacle in greater detail, but the reason I haven’t is that I view some of the issues related to MERS as kind of… well, pedestrian… not to put too fine a point on it.
Other than a few good decisions…
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