Odds and Ends–New MERSCORP Chief is ex Citibank; Judges Say Servicers Aren’t Improving Despite Consent Orders

MERSCORP names Citigroup’s former chief as CEO.

Judges See Little Improvement in Foreclosure Procedures Wall Street Journal 4/29/11  Quote:

Some judges are skeptical of claims by lenders that they have substantially improved their foreclosure procedures since controversy over the practices exploded last fall.

F. Dana Winslow, a N.Y. State Supreme Court Justice in Long Island’s Nassau County, said there has been only “a marginal improvement in what is being submitted to the court.”

For example, financial institutions are “showing a better chain of title” about who owns the debt, he said. “But I’m not seeing any additional clarity on who has control over the actual mortgage note signed by the borrower and lender and where the note is.”

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