Well, call me old fashioned, but I just see no need for a MERS system at all.
How hard is it to simply record the necessary assignments in the local court so that there is real transparancy and there is an actual chain of title relating to the ownership of the note?
Do the powers that be think that renaming this faulty system is going to correct the problems that we in the title industry are faced with every day as it relates to title clearance, and particularly as it relates to title clearance on properties with foreclosures in the chain.
I JUST DON"T THINK SO!!
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