Tag Archives: MERS

MERS wins in four Pennsylvania county lawsuits

The Commonwealth Court of Pennsylvania, by a majority opinion, ruled in MERS’favor in four lawsuits filed by the Recorders of four Pennsylvania Counties (Delaware, Berks, Bucks and Chester), locking in another victory for the company.

MERSCORP runs a private database of mortgage liens for use within the industry. Mortgage Electronic Registration Systems serves as the mortgagee in the land records for loans registered on the MERS System, and the company faces repeated legal challenges over its mortgage assignment authority.

Despite a pile of lawsuits, the company often proves victorious in court, some of those victories can be read about here.

Read on.

Kentucky AG Beshear reaches $2.8M settlement with national mortgage recording company

Kentucky Attorney General Andy Beshear said Tuesday that the state treasury will reap $2.8 million from a settlement his office has made with a national mortgage recording company.

Beshear also said the settlement will offer Kentucky homeowners some of the best mortgage protections in the country.

He is recommending that lawmakers use the $2.8 million to help right the company’s wrongs and to support affordable housing, legal aid foreclosure work and the budgets of local county clerks.

Read on.

MERS, MERSCORP’s Morgan, Lewis & Bockius is Part of Trump’s Transition Team


Morgan, Lewis & Bockius  was MERS counsel…

National Law Journal-

The Trump camp continues to draw DOJ transition officials from the nation’s largest law firms. The newest members are McGuireWoods partner J. Patrick Rowan, the former head of the National Security Division; Morgan, Lewis & Bockius partner Ronald Tenpas, the former head of the Environment and Natural Resources Division; and Morrison & Foerster partner Jessie Liu, who served as a top official in the National Security and Civil Rights divisions.


Clatsop County is joining 11 other counties in a $50 million lawsuit against MERS over recording fees

Clatsop County is joining 11 other counties in a $50 million lawsuit against a private mortgage registry over recording fees.

The lawsuit alleges that Mortgage Electronic Registration Systems, or MERS, owes the counties millions of dollars in unpaid fees.

“We think we’re probably missing out on somewhere between $35,000 or $70,000 a year in filing fees,” Clatsop County Manager Cameron Moore said.

Under state law, whenever mortgage debt is bought or sold, the transfer must be recorded in county records. MERS, a private registry created in 1995 by the banking industry, has been serving as the owner of record. The mortgage-industry company has, for years, essentially transferred the beneficial interest of a property to itself, circumventing the typical filing fee owed to the county clerk’s office, Clatsop County Counsel Heather Reynolds told county commissioners last week.

Read on.

11 Oregon counties sue private mortgage registry MERS

Eleven Oregon counties are suing a mortgage-industry company that registers loan sales, circumventing public property records.

The counties — Clackamas, Coos, Crook, Jackson, Josephine, Klamath, Lane, Linn, Marion, Washington and Yamhill — announced Thursday they have filed a $50 million lawsuit over unpaid recording fees since the lending industry created Mortgage Electronic Registration Systems, or MERS, in the 1990s.

The counties are following the lead of Multnomah County. They’re represented by the same Lake Oswego attorney, Tom D’Amore.

“MERS was taking advantage of our public records system but not paying the fees,” D’Amore said.

Read on.

MERS game changer? Connecticut Supreme Court upholds new fee on lending industry

States long imposed fees to record documents in land records.

The Mortgage Electronic Registration Systems loan registry system, created in the mid-1990s, meant lenders no longer needed to record security interest assignments in county land records each time they transferred a promissory note.

As a result, many counties sued MERS to force MERS members to record future security interest assignments and recover fees they claimed were “lost” because MERS members stopped recording assignments. MERS won the large majority of these cases.

[Note: Read HousingWire’s extensive chronicle of MERS proceedings, 600+ pieces of content, by clicking here.]

Connecticut tried a different tack to recover these alleged “lost” fees:  it amended the state’s land records statute to impose higher fees on mortgages for loans registered with MERS.  MERS filed suit to challenge the constitutionality of the statue, but in a February 2016 decision captioned MERSCORP Holdings, Inc. v. Malloy, the Connecticut Supreme Court upheld the trial court’s ruling and the validity of the higher fees.

[This blog discusses the decision and its possible impact in other states. The opinions are the author’s alone.]

Read on.


You got to be kidding…

Source: 4closurefraud:

Kforce Finance and Accounting • Coral Gables, FL

Job Snapshot

Other Great Industries

Job Description


Kforce has a client seeking a MERS Reconciliation Specialist (Temporary Position) in Coral Gables, FL.

Position Summary:

The MERS Reconciliation Specialist (MRS) is responsible for assisting the Agency Vendor Subservicer Managerwith reconciling the discrepancies between the servicing platform and the information listed within the Mortgage Electronic Registration System. This individual will also perform some research projects regarding the supporting documentation for MERS Quality Assurance compliance found within the various county recording offices. The role will include working closely with other departments to obtain information in the documentation of compliance of various aspects of MERS oversight. The position of the MRS must be completed with a high level of professionalism and confidence.

Job Requirements


  • High School diploma or equivalent
  • Combination of experience and college coursework or Paralegal Certificate
  • Mortgage lending experience (preferred)
  • Proficient in Microsoft Excel
  • Excellent oral and written communication skills
  • High level of production with attention to detail and accuracy
  • Has a working knowledge of mortgage lending and operations (preferred)
  • Good business Acumen and able to take direction
  • Ability to work under pressure
  • Strong -follow-through- on assigned tasks
  • Proactive, results-oriented and organized
  • Ability to maintain a professional demeanor under any circumstances
  • Must have the ability to maintain a positive attitude in the face of negative circumstance

Apply on Company Website here…


As David says, MERS is the Hamburger Helper in the housing crisis…

In part two of a TMFS interview, journalist David Dayen discusses his new book, Chain Of Title: How Three Ordinary Americans Uncovered Wall Street’s Great Foreclosure Fraud, and how Eric Holder’s lawfirm, Covington Burling, helped make the mortgage system worse through the creation of MERS.

MERS wins twice in Texas federal courts LENDINGSERVICING MERS wins twice in Texas federal courts

MERSCORP Holdings announced Thursday that it secured a pair of victories in federal court, as two United States District Courts in Texas recently upheld MERS’ mortgage assignment rights.

MERSCORP runs a private database of mortgage liens for use within the industry. Mortgage Electronic Registration Systems (MERS) serves as the mortgagee in the land records for loans registered on the MERS System, and the company has faced repeated legal challenges over its mortgage assignment authority.

But, the company often proves victorious in court, some of those victories can be read about here.

Read on.

HSBC: The connection between money-laundering and mortgages

More on chemist Dean Moore’s fight against HSBC and DOJ on the deferred prosecution agreement of HSBC money laundering probe to be released to the public:

The money-laundering/mortgage connection

Moore’s logic for wanting to see the report is explained here:

Moore contends that the report, which says that the bank has operational problems in its mortgage operations, could be relevant to his claim with the CFPB.

“It is my contention that the report would (or will) validate my claims that HSBC is in direct violation of multiple sections of multiple Consent Decrees,” he wrote in a letter to Gleeson.

The Office of the Comptroller of the Currency agrees with Moore—HSBC has violated at least one consent decree, specifically one from 2011 concerning death-pledges.  Here is a quote from a document styled as “Consent Order Amending The 2011 Consent Order and 2013 Amendment To The 2011 Consent Order”:

(3) The OCC has determined the Bank has failed to comply with forty-five (45) actionable items under Articles III, IV, V, VI, VIII, and IX of the Consent Order, including the Bank’s obligations under the Consent Order with respect to the sub-servicing performed by the third-party servicer on its behalf.

(4) The OCC has determined the Bank is in continuing noncompliance with and in violation of the Consent Order, and continues to engage in unsafe and unsound practices.

So at least two government agencies—the DOJ and the OCC—have determined that HSBC is in violation of multiple legal agreements between the bank and the government, yet HSBC continues to be allowed to operate and no one is being prosecuted or put in jail.  Moore is definitely onto something and apparently the same judge that approved the DPA regarding drug money-laundering is now inclined to honor Moore’s request to have the 2015 compliance report be made public.

It’s not at all surprising, of course, that a bank that engages in money-laundering also tries to scam homeowners looking for help on making their mortgage payments.  But that’s not the only connection between money-laundering and mortgages, in my view.  So-called “securitization” with the use of the MERS system to make ownership of promissory notes completely opaque, is the ultimate form of seemingly legal money-laundering.  Indeed, as we have written here before at LRM, MERS is the “invisibility cloak of the banksters”:

Yes, the banks don’t want you to see what they’re doing–or not doing, as the case may be.  Specifically, they don’t want you to see that they have separated your note from your deed of trust/mortgage.  In my opinion (and I am not an attorney) there are two main, unstated reasons for the existence of MERS: 1) to separate the security document from the note and 2) to purport to rejoin them as if they’d never been separated at the time of foreclosure.

The purpose of point 1 above (the purpose of point 2 is self-explanatory): for banks/financiers to be able to pledge or “sell” the same note multiple times (see this, this, and this)–i.e.,rehypothecate–without having to indicate that the note has been sold multiple times in the county land records (via assignments in said records that used to be required for each sale of the note).

In any event, HSBC is but the tip of the iceberg, and hopefully Moore’s request for the release of the HSBC compliance report will be granted and the rest of the iceberg will be revealed, or at least begin to be revealed.

And here is Moore letter to the judge including a copy of Notice of Sale of his mortgage loan sold from HSBC where he was acquiring a loss mitigation application to Caliber Home Loans on November 2 2015. Letter of the Notice of Sale is dated November 12, 2015, yet Moore received a letter from HSBC of acknowledgement of loss mitigation application dated November 5, 2015. Click here.

On a side note: here is information of Moore’s loan in the MERS registry:

2 records matched your search:

MIN:1001761-0603140944-5 Note Date:03/27/2006 MIN Status:Active
Servicer: Caliber Home Loans, Inc Phone:(405) 608-2530
Oklahoma City, OK
If you are a borrower on this loan, you can click here to enter additional information and display the Investor name.
MIN:1000137-0006558299-9 Note Date:10/30/2001 MIN Status:Inactive
Servicer: JPMorgan Chase Bank, National Association (fka Chase) Phone:(800) 848-9136
Monroe, LA
If you are a borrower on this loan, you can click here to enter additional information and display the Investor name.
For more information about Mortgage Electronic Registration Systems, Inc. (MERS) please go to www.mersinc.org