Volume 2014 - Number 27
July 10, 2014
U.S. Judge Finds MERS Liable in Mortgage Recording Suit, Registry Faces Possibility of Costly Award, New Lawsuits
An industry that is used to reading about MERS’ court victories was stunned last week after a federal court judge in Pennsylvania found Merscorp Inc. and its electronic mortgage registry system in violation of state recording laws for real estate properties. While the ruling by U.S. District Court Judge J. Curtis Joyner may be appealed, MERS could be held liable for its role as an “agent” for member-lenders involved in property transfers and for alleged unjust enrichment, according to legal experts. The case was brought...
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