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Loan Modification

: Mortgage Lender Implode-o-Meter

Law Expert: MERS Mess Could Have ?a Massive Effect on the Economy.?

By Implode-Explode Heavy Industries

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"It?s important to know from the beginning that MERS is a wholly owned subsidiary of big financial institutions. The mortgage bankers wanted to avoid recording fees and reduce their overall expenditures. So they basically devised a method that would free them from those fees, ran an accounting study showing the savings, and just created MERS."

Full post as published by Mortgage Lender Implode-o-Meter on October 18, 2010 (boomark / email).

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