Each and every time I read a case where a judge mentions MERS, I cringe only because MERS is a strawman/machine that was made up, fabricated to circumvent not only fees but property law.
It’s a machine anyone who has access can manipulate at any given time. It’s unreliable & inaccurate.
My San Antonio-
A lawsuit filed last month by Bexar County against a Boerne mortgage banker alleging the county’s public recording system was circumvented to avoid the paying of filing fees is about more than just unpaid fees. The outcome of the lawsuit could have a far-reaching impact on how real estate transactions continue to be recorded in Texas and across the country.
The Bexar County lawsuit against JPC Financial Resources Inc. challenges the use of the Mortgage Electronic Registration System created in the 1990s by the nation’s 3,000 largest lenders to record mortgage transactions. The suit seeks unspecified damages.
“MERS has jeopardized the clear title of every Texas homeowner with a mortgage and has cheated Texas counties out of millions of dollars in property recording fees,”
– County Attorney Vince Ryan
My San Antonio-
Bexar County is poised to challenge a private mortgage-tracking system that officials claim has cost it millions of dollars in filing fees.
The district attorney’s office will ask the Commissioners Court at its Nov. 1 meeting for the go-ahead to hire a law firm to sue Mortgage Electronic Registration Systems Inc., which claims to hold title to some 60 million loans around the country.
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