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NAILTA Announces Opposition to "MERS 2" Proposal
Slade Smith

The National Association of Independent Land Title Agents (NAILTA) has announced that it is opposed to a provision in legislation offered by Senator Bob Corker (R-TN) that would create "MERS 2", a federal mortgage registry modeled after and designed to replace the existing bank-owned MERS mortgage registry.

In its position paper on the Corker bill, Senate Bill 1834, NAILTA says that it "is opposed to any reconstituted MERS system because the MERS model is a deeply flawed system that continues to harm consumers, small business owners, and county governments across the United States."

According to NAILTA, "[A]ny consideration of creating a new MERS without having successfully resolved the well-known flaws and inadequacies of the previous MERS system is a foolhardy exercise. S.B. 1834 proposes no solution to the prevalent flaws with the current MERS system. Instead, it merely seeks to establish MERS 2.0 based upon the MERS in use on the date of enactment."  One of those purported flaws in MERS is that it "fails to reconcile 50 states worth
of mortgage recording and foreclosure law."

NAILTA claims that MERS, a system "built by the mortgage industry, for the mortgage industry" according to its founders, has harmed the land title industry in particular by shifting the business of title insurance away from title professionals and toward banks. NAILTA says that MERS has also damaged land title records and deprived local governments of fees used for general purposes such as public safety.

NAILTA characterizes MERS 2 as a Federal Torrens title system-- subject to the considerable expense and difficulty of reconciling states' differing recording and foreclosure laws into one system.  MERS failed because of the same pitfall, and consumers, county governments, and title agents have borne this expense while only the owners of MERS have benefited, according to NAILTA.

NAILTA has contacted Senator Corker's office and requested a meeting with the Senator, to express its "deep reservations and opposition concerning MERS and the specific problem we have with [the MERS 2] provision."

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If MERS is just a deceptive trade operation run by its unsupervised
20,000 members feeding a “tracking” system why are we even arguing over
its importance still?

What good is any "recording" system where Banksters can enter directly 

We have to protect the original note and mortgage and the arms length 
closing agents need to assume more resposibility. Closing agents need to be 
responsible for "recording" and forwarding original notes and mortgages 
to a secure government storage facility where banks can't destroy or 
 Why don't you have a real productive meeting with Senator Corker's and organize 
the players with real solutions that make a difference so we can make a 
baby step forward after 4 years! Reach across the aisle and invite people 
like Beau Biden & Eric Schneiderman & Martha Coakley & Garfield Continuum
Elizabeth Warren etc... One powerful meeting
and watch the excitment you generate in the USA.
All the players that care need to work together and change will happen fast.
Yes NAILTA needs to market solutions through demands and
networking. You are the perfect organization to take charge of this mess.

Upon information and belief, over one third of residential mortgages in
the state of Delaware are recorded in the name of MERS, rather than in
the name of the bank, trust, or company that actually owns the mortgage
debt. What good is a “recording” system that sets up deception?

Once you become a member of MERS you provide a list of certifying
officers. These approx. 20,000 “member employees” acting on behalf of
MERS are really employees of another entity. At what point are we going
to decide that all deception is going to be eliminated including MERS
the deception machine?

We are so desperate for a computer recording system that incorporates
proper links to closing agent documents, chain of title, property tax
and any insurance on the loan, if the loan has been paid off, how many
times the same loan has been paid off. The system needs to
incorporating a code system at the bank like US customs that allows
bank investigation at the click of a button.  (not 2
years after a problem surfaces ask the bank to self investigate and
tell us what they are doing wrong) All this does is tell the public
that there isn’t a system even set up to regulate the banks yet. We
need the public to stand up and say, Why is this crucial information
not available? Computer information systems in the US have only improved with time 
so why has tracking land records regressed so badly? Why have we done nothing to fix 
the problem? We need to have whom ever wrote the software for US
customs, Ebay and to present a software program that is
transparent, linked, user friendly and provides transparent mortgage
and note information that can’t be altered. This is a software,
transparency, regulating issue that is easy to fix due to our advanced
computer technology ability. MERS is not the problem or the solution
but merely a symptom that we are fixated on for some reason that has me
totally baffled. It is a national problem that is being delt with on a 
local level that will drag this stupid issue out for years with mixed 
results in every county. If this wasn't so sad it would be funny.

Why is it easier to trace a 50 cent used item on ebay after the sale
than it is to trace a current million dollar promissory note?

Why is it easier to trace a container arriving in the USA and everything in it
than it is to trace a million dollar promissory note? (ANTIQUATED COMPUTER
TECHNOLOGY) Please ask Senator Corker what government agency is fast at work fixing the technology
problem that is preventing a chain of title at the click of a computer button.

Check out this MERS case


MERSCORP, Inc., a Delaware corporation, and
Mortgage Electronic Registration Systems, Inc.,
a Delaware Corporation,
I'm just curious when are we going to fix the first problem in the 
mortgage mess? I have a lot more solutions if you want to invite me. :-)

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Thank you for saying everything so easily. I am a instrument of Bank of America using MERS on 7/20/11 bank directed and gave evidence satisfactory for CA notary to assign instrument (my home) to Alaska Federal Credit Union.April 2011 Consent order AA-EC-11-12 to cease and decease,now in July I took pictures for you to see,since people say how could this happen?I do not know and I have asked.So, Me & Mers wait for more to come.....

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