Judge Finds MERS Has No Right To Transfer Mortgages, Finds Entire MERS Process Illegal
Posted by kandylini on February 18, 2011
Another excellent Zero Hedge post (original story from Bloomberg).
U.S. Bankruptcy Judge Robert E. Grossman ruled that Merscorp Inc., which runs the electronic-registration system responsible for about half of all U.S. home mortgages, has no right to transfer the mortgages.
This is HUGE news! The article came out on Monday, and so far there’s been virtually no coverage from the asleep-at-the-wheel-as-usual MSM.
Here’s a couple more posts from Zero Hedge that are must-reads:
“MERS Exits Stage Left, Tells Members Not To Foreclose In MERS’ Name“
“One Step Closer To The End: MERS Corporate Secretary Demoted“
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