Feb 14, 2011
Breaking: Judge rules MERS lacks authority to transfer mortgages
14 Feb 2011
Posted by Andrew Kantor
U.S. Bankruptcy Judge Robert E. Grossman in Central Islip, New York, in a decision he said he knew would have a “significant impact,” wrote that the membership rules of the company’s Mortgage Electronic Registration Systems, or MERS, don’t make it an agent of the banks that own the mortgages.
More as we know more.