Merscorp Replaces Corporate Secretary Bill Hultman a Month After CEO Departs

Merscorp Replaces Corporate Secretary a Month After CEO Departs

Merscorp Inc., operator of the electronic mortgage-registration system under criticism by consumer advocates amid a probe into lender foreclosure errors, replaced Bill Hultman as its corporate secretary.

General Counsel Sharon Horstkamp is taking over the job, Karmela Lejarde, a spokeswoman for the Reston, Virginia-based company, said in an e-mail today. Hultman remains a senior vice president and corporate division manager, she said.

Merscorp has made a series of changes as courts debate what role it has, if any, in home foreclosures. Chief Executive Officer and President R.K. Arnold, who hired Hultman in 1998, retired last month. The company also is examining reforms, including a proposed rule change on the company’s website Feb. 16 that would stop members from foreclosing in its name.

“They’re trying to clean up their house,” said Christopher L. Peterson, a law professor at the University of Utah in Salt Lake City who has written law-review articles critical of the company. “I’m not sure Hultman was the problem. It seems to me the problem is the business model.”

Lejarde declined to comment on the reason for the change in Hultman’s role. A telephone message left for Hultman wasn’t immediately returned.

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5 Responses to “Merscorp Replaces Corporate Secretary Bill Hultman a Month After CEO Departs”
  1. l vent says:

    MERS is the cover-up for the Origination Fraud. They fraudulently induced our mortgages and STOLE all of the money. Without the Original Blue Ink Notes, which they destroyed to cover-up the fact that our homes were paid for by us (Know All Men By These Presents) via a second bank, and we have the Original Warranty Deeds, we received the DEED BECA– USE OUR HOME WAS PAID FOR. NOW, they have NOTHING to prove WE owe them any money, this alone, makes FORECLOSURES ILLEGAL. The entire mortgage industry was built on a business model of fraud. DESPICABLE.

  2. Karmela Lejarde, is even worse that is why they put her there are you kidding me?

  3. pparke500 says:

    Cleaning up their act? They should be abolished. MERS is outside of the real estate law and the UCC currently on the books. It should not be allowed to participate in foreclosures or mortgages in any way whatsoever.

  4. Anonymous says:

    Are you kidding us? She’s wrose than Hultman. She’s general counsel who helped disguise the frauds.

  5. leapfrog says:

    We need the laughing mouse again. This is great news! I’m glad the liars are being fired, but as the article says the whole business model is a sham. Hiring and firing staff is only like rearranging deck chairs on the Titanic. I will laugh when they get rid of spokesliar Karmela though.

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