Leigh you are hiting the big picture there which I failed to adequately explain. If the assignment takes place within MERS membership banks, MERS retains full mortgagee capacity. (Ability to assign/foreclose, etc) Until that note falls out of the MERS membership, they will remain mortgagee until the note is paid off.
Once that sssignment falls out of the club, MERS will actually file a release.
to post a reply:
login - or -
register