So you would rather 50 states pay for a study, than just one at the federal level? THIS bill is simply to get rid of MERS mortgages and require assignments to the real holders of the notes - it is a good bill.
If the study comes back and some beaurocrat decides to introduce a bill requiring a federal land registration system, I'll be right there with you opposing it. But THIS bill doesn't do that. It merely requires a study, the results of which can be shared with the 50 states and may lead to real improvements in the recordation systems across the country.
The real conspiracy here is ALTA garnering opposition to a good bill because it requires a study of something most of us in the industry would surely be afraid of. It appears to be working.
Best,
Robert A. Franco
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