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To: Ilaine who wrote (81118)10/10/2011 12:01:11 PM
From: Hawkmoon  Read Replies (2) of 217576
 
Ilaine,

What's your reading on the MERS controversy? There's been a lot of discussion as to how MERS may be illegal since it circumvents the traditional county recorder offices (ie for laymen: if it's not recorded at the county level, it's not legal).

I also see that there was $2 million fine levied against a foreclosure mill in NY the other day..

nationalmortgageprofessional.com

I tend to side with those who believe MERS is illegal, and that selling off mortgage notes into an MBS is extremely harmful to our financial system.. Banks should keep their loans on their books.

Just curious what you think?

Hawk
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