MERS Lacks Legal Authority and Public Accountability

Harvard Amicus Brief on MERS Some of the best quotes, Mortgage servicing companies, banks, courts and government agencies have all expressed astonishment at the extent to which MERS database is inaccurate. (p. 24) “Simply put, ‘MERS is the Wikipedia of land registration systems.’ Culhane v. Aurora Loan Services, 826 F. Supp. 2d 352 (D. Mass. 2011) […]

Bankruptcy Judges Not Afraid of Difficult Task of Holding Servicers Accountable

Judge Shea-Stonum of the Bankruptcy Court for the Northern District of Ohio (Eastern Division) issued an interesting opinion chastising Countrywide for its systemic servicing shortcomings. Among other interesting tidbits, including requiring each servicer to attach a prescribed worksheet to a proof of claim, she notes that the servicers have absolutely zero incentive to serve the homeowner ( http://www.creditslips.org/creditslips/ONealvCountrywide.pdf) One […]