Record Bee
The impact of Mortgage Electronic Registration Systems (MERS) on county records was a topic of interest during the Lake County Board of Supervisors (BOS) meeting on Tuesday.
District 3 Supervisor Denise Rushing requested the issue be placed on the agenda after hearing from several local residents during public comment at previous meetings regarding the unlawful foreclosures.
“It affects a lot of seniors,” Larry Anderson, 76, of Kelseyville said. “What MERS is doing is proven fraud.”
The system is a national database of home mortgages that allows lenders to bypass county recorders in order to more easily transfer mortgage rights, according to County Counsel Anita Grant. The system tracks mortgage loans and servicing interests, but it appears MERS may not be recording all additional mortgage assignments.
© 2010-19 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.
