Oregon Supreme Court To Consider 'MERS' Mortgage System

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Oregon Supreme Court To Consider ‘MERS’ Mortgage System

Oregon Supreme Court To Consider ‘MERS’ Mortgage System

OPB-

The Oregon Supreme Court is expected to hear two cases this week involving the mortgage industry’s Mortgage Electronic Registration System, also known MERS.

When Wall Street started bundling home loans and selling them off to investors, MERS was created as shortcut around county recording requirements. Instead of recording each change of ownership, MERS is listed on the documents as the beneficiary. And often it’s the party that initiates foreclosure.

 [OPB]

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2 Responses to “Oregon Supreme Court To Consider ‘MERS’ Mortgage System”

  1. K. McCarthy says:

    You can listen to the Oregon Supreme Court oral arguements Live on Jan.8th @3pm PST Go here: http://oregoncourts.mediasite.com/Mediasite/Catalog/catalogs/default.aspx

  2. joe says:

    What are they drunk. Everybody’s mortgage has been paid off

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