The Mortgage Electronic Registration Systems has another precedential court decision in its favor – this time in Alabama – over the registry’s ability to assign mortgages.
They Said It
"Structuring the AG settlement credits this way makes it more of an additive for principal reduction," Kingsley said. "This way, more borrowers could potentially receive some form of reduced principal."
Most housing publications – especially those focused on mortgage finance – have been covering the Mortgage Electronic Registration Systems issue for well over two years. And many judges across the nation have already weighed in on major MERS issues, but that's not stopping the mass media from turning MERS into another political thriller.
Nonprofits — the Cuyahoga Land Bank, NeighborWorks America, Rebuilding Together, the National Association of Hispanic Real Estate Professionals, PCV|VRM Seeds of Hope and many more local organizations — are investing significant resources to improve America’s most vulnerable housing markets.