AmacamA

Mortgage Electronic Registration System (MERS) has been used by lenders nationwide to track mortgages via the system’s database. Lenders who are members of the program are represented in the enforcement of a promissory note secured by a mortgage. A U.S. Bankruptcy Judge in Nevada ruled earlier this year that MERS could no longer represent lenders [...]

There is a very unpleasant ripple which is in danger of growing and engulfing the banking-world. One has already seen the first stirrings of Madame Défarge-like blood-lust being directed at the “evil” bankers. It may be a surprise to many but the “post-meltdown” banking boards still bear a uncanny resemblance to the pre-meltdown ones. Little [...]