National Association of Independent Land Title Agents (NAILTA) White Paper on MERS, H.R. 6460

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National Association of Independent Land Title Agents (NAILTA) White Paper on MERS, H.R. 6460

National Association of Independent Land Title Agents (NAILTA) White Paper on MERS, H.R. 6460

Per a tip SFF received: This Bill should boil it down to where the GSE’s should only accept loans where there is a proper Chain of Title recorded in Public Records and a Chain of Indorsements showing a proper Chain of Negotiation to the GSE’s where both chains match from Origination to final purchase by the GSE’s.

The National Association of Independent Land Title Agents (NAILTA) has released a white paper on the recent troubles with the Mortgage Electronic Registration Systems (MERS) mortgage registry and a position statement in favor of the premise behind a bill sponsored by Representative Marcy Kaptur (D-OH) known as H.R. 6460, or the “Transparency and Security Mortgage Registration Act of 2010”.

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111TH CONGRESS
2D SESSION

H. R. 6460


To prohibit Fannie Mae, Freddie Mac, and Ginnie Mae from owning or guaranteeing any mortgage that is assigned to the Mortgage Electronic Registration Systems or for which MERS is the mortgagee of record.

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[ipaper docId=45004130 access_key=key-nqvdvjithp0iusr9la3 height=600 width=600 /]

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3 Responses to “National Association of Independent Land Title Agents (NAILTA) White Paper on MERS, H.R. 6460”

  1. dpreston says:

    Oh my God! Is it possible that someone is finally starting to see the light?! I was not hopeful when I first saw MERS and National Association…but it seem like they are going to make some accountability happen here. Hope that it doesn’t mean all prior assignments in the MERS name are fine …. They are any thing but fine. Debi

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