Press Release | JOHN L. O’BRIEN Southern Essex District Registry of Deeds “MERS must be held accountable for their failure to pay billons of dollars in recording fees”
For Immediate Release
|JOHN L. O’BRIEN, JR.
Register of Deeds
|Commonwealth of Massachusetts
Southern Essex District Registry of Deeds
45 Congress Street
Salem, Massachusetts 01970
FOR IMMEDIATE RELEASE
April 14, 2011
John O’Brien, Register of Deeds
In light of the action taken by the Department of Treasury, The Federal Reserve, Federal Deposit Insurance Corporation, Office of the Thrift Supervision and the Federal Housing Finance Agency, whereby they issued a Cease and Desist Consent Order against the Mortgage Electronic Registration Systems, Inc. “MERS”; Essex County Register of Deeds, John O’Brien , who has been leading a national effort to ensure that MERS and its member banks including Bank of America, J P Morgan Chase and others, be held accountable for the damage that they have inflicted on the land recordation system and their failure to pay recording fees, said that he is very encouraged that this action has been taken. O’Brien, however, cautioned that this is just the beginning of a very long process to ensure that these banks are held accountable both monetarily and legally for the damage that they have done.
O’Brien, along with Register of Deeds, Jeff Thigpen, of Guilford County, North Carolina, have asked that representatives of the Registers of Deeds across the nation be given a seat at the table during any discussions with MERS, its member banks and any and all government agencies. “It is imperative that we make sure that our voices are heard. As Registers, we have the responsibility to ensure that our records are accurate. We must never lose sight of the fact that millions of homeowners across this country have had their chain of title compromised. This is a very serious issue which needs to be addressed. In addition, MERS must be held accountable for their failure to pay billons of dollars in recording fees. Fees, I might add, that everyone else is required to pay. We will continue to lead this fight to make sure that these issues are not swept under the rug and settled for pennies on the dollar. The taxpayers must be made whole, and the homeowners must be guaranteed that their chain of title is accurate.” said O’Brien.