Magic of the mortgage electronic registration system: It is and it isn't

No Thumbnail Available
Authors
Weber, David P.
Issue Date
2011
Type
Journal Article
Journal Article
Language
Keywords
Research Projects
Organizational Units
Journal Issue
Alternative Title
Abstract
This essay critically examines MERS' structure which incorporates principles of dubious legality such as a theory of common agency as well as a duality of roles held by MERS. The article examines many recent decisions in state, federal and bankruptcy courts in order to identify current trends regarding MERS-related jurisprudence. The essay also provides an in-depth discussion of the historical issue of severing a promissory note and a mortgage, and how that can prove to be fatal in some cases but not others (depending especially on the forum). The article concludes with a proposal for the creation of a federal data clearinghouse akin to the EDGAR system for publicly held companies, to document ownership and transfers of mortgages and promissory notes in a secondary market.
Description
Citation
David P. Weber, The Magic of the Mortgage Electronic Registration System: It Is and It Isn't, 85 Am. Bankr. L.J. 239 (2011).
Publisher
License
Journal
Volume
Issue
PubMed ID
DOI
ISSN
0027-9048
0027-9048
EISSN