North Carolina judge finds fatal flaws in lawsuit against MERS, LPS
The register of deeds for Guilford County, N.C., lost a very public court battle against mortgage document processing firmLender Processing Services and the Mortgage Electronic Registration Systems.
The lost court battle ends the register’s closely-followed attempt to obtain a special master to investigate the two firms’ handling of mortgage documents and the recording of property assignments in the county.
In the original lawsuit, the Guilford County Register of Deeds Jeff Thigpen painted a picture of two firms – MERS and LPS – as causes of a major county recording mess.
Thigpen alleged the use of the MERS registry – along with the LPS handling of certain mortgage documents – ended up making a mess of county property and land records.
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