States Target MERC Over Foreclosures

Mortgage Registry Falls Under Attack Over Foreclosures
– Law360
Law360 interviewed Manatt’s Tom Muller for an article about Mortgage Electronic Registration Systems Inc., a real estate recording paperwork saver that has recently been the target of several attorneys general who are seeking culprits for the U.S. home foreclosure crisis.
 
Real estate can be a very localized and arcane field of law in which judges can rule in surprising ways, said Muller. "It's by no means a slam dunk" for MERS and the lenders, Muller said. “It's possible that, at least in some states, a court could find that the mortgage is invalid because there's something in the state's common law or statute that could be seen as prohibiting a mortgage lender from holding its mortgage through an agent."
 
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