I am confident that many more counties will step up to the plate and demand their cut from all the revenue that has been lost due to the MERS artifice.
Norman Transcript-
Cleveland County commissioners on Monday hired a law firm to investigate whether a banking system systematically failed to pay mortgage filing fees to the county clerk.
Commissioners Rod Cleveland and Rusty Sullivan said national banking companies joined the Mortgage Electronic Registration System (MERS) Inc., a private enterprise that started in 1997, to handle records of mortgage transactions.
The problem, Cleveland said, is that “any time a mortgage is touched, any transaction at all, then there should be a filing fee paid to the county.”
© 2010-19 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.
um..you might want to check on this…there IS no Cleveland County, Ohio. Are you sure it’s not Oklahoma?
MERS claims that it makes mortgage recording less costly to homeowners, but that is a bunch of “used dog food.”
The truth is I was charged TWICE at closing for mortgage recordation: once for the county records and a second time for MERS registration. So, in fact, MERS cost homeowners MORE, rather than less. The MERS registration fee was less than $5, but multiply that by 60 million loans and see what you get! Not a bad haul for a corporation that has about 50 paid employers, and approximately 20,000 unpaid officers doing their bidding across the nation.
And even worse, MERS collected its involuntary fee and did not REQUIRE its member to register the loan at all. That is left up to the lender, who probably didn’t lend a dime.
What’s worse, Congress is trying to implement a clone, MERS2, for electronic filing.
Does that mean since the MERS system systematically failed to pay the mortgage filling fees,to the county clerks office in Cleveland County, Oklahoma, that makes MERS transactions Null and Void?
Please let me know!