Bexar County Texas to Sue Mortgage Electronic Registration Systems (MERS) Over Lost Fees

“MERS has jeopardized the clear title of every Texas homeowner with a mortgage and has cheated Texas counties out of millions of dollars in property recording fees,”
~ County Attorney Vince Ryan

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Bexar to sue over lost fees

Bexar County is poised to challenge a private mortgage-tracking system that officials claim has cost it millions of dollars in filing fees.

The district attorney’s office will ask the Commissioners Court at its Nov. 1 meeting for the go-ahead to hire a law firm to sue Mortgage Electronic Registration Systems Inc., which claims to hold title to some 60 million loans around the country.

“There has been a process developed specifically for the purpose of circumventing the recording procedures and statutes in reference to real property,” District Attorney Susan Reed said. She didn’t immediately know how much the county will seek in financial damage. “I just know it’s going to be high,” she said, adding that it’s millions of dollars.

Dallas County last month sued MERS, claiming the county is owed at least $58 million and possibly more than $100 million from MERS-related mortgage assignments that never were recorded with the county clerk.

Check out the rest here…

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4closureFraud.org

Comments
4 Responses to “Bexar County Texas to Sue Mortgage Electronic Registration Systems (MERS) Over Lost Fees”
  1. CaitlinO says:

    I believe Bexar is San Antonio which, given it’s growth in the past decade, should be able to put together a big bill for the MERS criminals.

    You’re right, MERS has no money. To obtain compensation, the counties are going to have to reach through the shell corporation to the founding TBTF banks behind it.

    I’d love to hear from an attorney whether this is winnable or not.

  2. Mario Kenny says:

    blood from a rock, how can mers pay anything? this company has no money.

  3. housemanrob says:

    “MERS remains the lender no matter how many time the loan is sold”? My God….what a twisted oxymoron!

  4. Malco says:

    Let us hope EVERY county in EVERY state sees this , this is why our infrastructure and counties are broke , if it starts at the county level , need I say more ?

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