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Loan Modification

: Loan Modification & Home Loan News

Fannie Bans Mortgage Servicers from Naming MERS in Foreclosure Action

By Moe Bedard

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Fannie Mae (FNM: 1.02 -2.86%) servicers can no longer name MERS, the industry-wide loan tracking system administered by MERSCORP, as a plaintiff in nonjudicial foreclosure actions as of May 1, 2010. The new rule, announced in a servicing guide distributed Tuesday (download here), applies to foreclosures referred on or after May 1 on mortgage loans owned or [...]

Full post as published by Loan Modification & Home Loan News on April 02, 2010 (boomark / email).

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Fannie-Related Mortgage Foreclosures No Longer To Be Carried Out In The Name Of MERS

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