FYI I did link to all the previous posts/stories about MERS at the bottom of the post so people could see the progression of the whole problem.
The company tracks servicing rights and ownership interests in mortgage loans on its electronic registry, allowing banks to buy and sell the loans without having to record the transfer with the county (or to pay the appropriate transfer taxes). It played a major role in Wall Streets ability to quickly bundle mortgages together in securitized trusts.
posted on 02/15/2011 1:05:32 PM PST
(A half-truth is a complete lie)
Meaning this might actually help the banks as no one can claim the bank transferred it rights to others and the paperwork is lost.
posted on 02/15/2011 3:37:52 PM PST
(Islam needs to be banned in the US and treated as a criminal enterprise.)
posted on 02/15/2011 5:31:53 PM PST
To: Kartographer; Chunga85
posted on 02/15/2011 5:33:10 PM PST
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