CONFLICT OF INTEREST? The titular head of the title insurance industry, ALTA’s CEO, Kurt Pfotenhauer, is now the Chairman of the Board of MERSCORP

ALTA’s CEO, Kurt Pfotenhauer, Now Chairman of Board at MERS

You won’t find anything on the ALTA site about this one.

NAILTA has confirmed through the American Land Title Association (ALTA) that ALTA’s CEO, Kurt Pfotenhauer, recently became the Chairman of the Board for MERSCorp, Inc. and its controversal subsidiary, MERS, Inc. (MERS).  MERS is the mortgage recording registry that ALTA and the banking industry helped create back in the 1990′s.  Since it’s creation, MERS has helped turn the foreclosure crisis upside down.  MERS has been in the news for months after revelations over its structure and its questionable legal efficacy arose in courtrooms across the United States.  Several state supreme courts have recently held that the registry improperly foreclosed on homeowners and lacks legal standing to prosecute foreclosure actions.  The registry has also been the subject of scorn from county recorders who believe that MERS acted as a conduit to syphon county recorder fees from local governments and, in turn, allowed banks and mortgage entities involved in MERS to profit from the troubled registry.  The registry has also come under fire from the land title industry, including NAILTA, NALTEA and others, who believe that the MERS registry destroyed the time-honored tradition of unity between the note and mortgage (i.e. once they are separated — as they are in the MERS registry — the mortgage is no longer enforceable).

Pfotenhauer is no stranger to the mortgage industry having cultivated a long career lobbying for the Mortgage Bankers Association prior to his ascension to CEO for ALTA.  He has also served on the MERS Board since its inception making him — and ALTA — directly involved in the messy history of MERS.

Check out the rest here…

Kurt Pfotenhauer’s MERS BIO here…

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4closureFraud.org

Comments
7 Responses to “CONFLICT OF INTEREST? The titular head of the title insurance industry, ALTA’s CEO, Kurt Pfotenhauer, is now the Chairman of the Board of MERSCORP”
  1. Tim Bryant says:

    Geez, Beckmann lasted all of 1 month. I wonder how long this guy will last? I will do my usual research and outline this gentlemen’s ties to the industry.

  2. leapfrog says:

    How is the “titular head” (perfect name for the guy) going to fix this? I have a feeling more and more of these “little problems” are going to keep popping up. Oh, dear.

    http://www.biggerpockets.com/forums/51/topics/63337-mers-issue

    I need that laughing mouse again…

  3. l vent says:

    This is what they do and what they have been doing since the financial crisis began. They change the guard to see if one of their comrades can fix this mess they all created. They are all working for the same evil entity who caused this financial crisis.There is no fixing this mess and there are conflicts of interest everwhere. They are all in the sack together, and have been since the inception of the PONZI SCHEME, the whole ongoing foreign owned and operated multinational financial criminal enterprise who still wears an American face to hide its true evil foreign identity..Their house of cards is collapsing. Then they can all go to GUNATANAMO FOR TREASON for what they did to America.

    • AliceN.Wunderland says:

      I vent, I just looked at Kurt’s bio again, just had to, I wonder what Senator he worked for and what does ‘senior contacts with the White House, U.S. Senate and U.S. House of Representatives’ mean. Sounds like he is the Inside Man for the Inside Job. Your post is right on.

    • Tim Bryant says:

      I think it is safe to say that ALTA has lost all credibility with regards to land title issues by this move. I agree with the other posts, you have to be crazy to purchase a home nowadays. I don’t see that changing unless something drastic occurs. Homes are no longer YOUR investment. You have very little rights, and entities like MERS were created to prevent you from exerting what little rights you have.

      Everyone should contact this page link to their local Register of Deeds. Let them know that these industries do not care about correcting the public land records which have been destroyed.

  4. AliceN.Wunderland says:

    ROFL…Peter Pfotenhauer lives here in Wonderland. He lunches with Tweedeldum and Tweedledee, mushrooms of course. He might even be married to the queen and most likely has a chesire cat. I had to print his picture so I will recognize him when i see him talking to the flowers and caterpillars.

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