If only someone with IT skills and I mean real IT skills was able to audit MERS, then you will be able to “follow the money”.
Fannie Mae has a lot of responsibility for our current foreclosure and mortgage crisis, although it has not been reported on much. That’s changing.
Last weekend, the Detroit Free Press reported that Fannie’s pushing foreclosures in violation of its own rules. In the Free Press article Fannie Mae, unsurprisingly, denies the charges. When I contacted Fannie Mae spokeswoman Amy Bonitatibus, she wouldn’t discuss the Free Press article on the record. However she was willing to confirm Fannie Mae’s well known role in launching MERS. And perhaps Fannie Mae’s most far-reaching foreclosure and mortgage mess impacts stem from MERS.
Fannie Mae and MERS
Fannie Mae was instrumental in the creation and legitimation of MERS …
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