Lets see who all are the “Financiers” of this new proposed MERS.
Does he not think the bankers are already working on a way out of MERS and into a new MERS?
Either way, we need to get away from anything electronic as this is not safe and opened to all sorts of fraud. I know I would never ever get anything with any “nominee” verbiage in any of my personal possessions. HELL NO!
Housing Wire-
Sen. Bob Corker, R-Tenn., hopes to create a new mortgage registration system to streamline the transfer of mortgages nationally.
Corker said the registry would function similar to the Mortgage Electronic Registration Systems by creating a single, nationally recognized system for the transfer of loans.
Corker included the MERS redux proposal in his Residential Mortgage Market Privatization and Standardization Act, a bill introduced this week to outline the mortgage finance market’s transition from dominance by government-sponsored enterprises to a privatized system.