Posted on: 09th Jan, 2008 08:02 am
i have no idea what MERS is and what its function is. But i have seen MERS in quite a few mortgage documents. So i would really appreciate if someone can throw some light on MERS (in layman terms)
Thanks
Ravi
Thanks
Ravi
Hi ravik,
I think MERS is a process that actually simplifies the way of mortgage ownership. This has been created by the real estate finance industry.
Best of luck,
Larry
I think MERS is a process that actually simplifies the way of mortgage ownership. This has been created by the real estate finance industry.
Best of luck,
Larry
straight from the guidelines:
Mortgage Electronic Registration Systems (MERS) is a national loan registry for electronic tracking of beneficiary and servicing rights, established to eliminate paper assignments; thus, eliminating missing, mis-recorded and erroneous loan assignments.
i hope this is of assistance.
Mortgage Electronic Registration Systems (MERS) is a national loan registry for electronic tracking of beneficiary and servicing rights, established to eliminate paper assignments; thus, eliminating missing, mis-recorded and erroneous loan assignments.
i hope this is of assistance.
that was me above; i thought i was logged in
