MERS Bows Out of Foreclosure and Bankruptcy Proceedings (legal, articles, interest)

[2bindenver]

The organization has issued a policy update to its members stating that no foreclosure proceeding may be initiated in the name of MERS and no legal proceedings in a bankruptcy may be filed in the name of MERS.

MERS Bows Out of Foreclosure and Bankruptcy Proceedings

[Silverfall]

I'm interested to see what that does here as recording the title transfer is a huge problem here.

[MikeyKid]

I don't think this was a surprise as it was all exposed during the robosigning mess... I mean, they basically just made up their own rule that "electronic transfer" was legal, when in reality it never was. It's the entire basis for the whole sue for your title back free and clear idea.