NOT Sharon Bock | MERS Registry Targeted by Local Recorders of Deeds Over Lost Fees

“Becker says MERS has made a mess of the files she was elected to safeguard for Montgomery’s citizens, and that the registry has deprived her community of much-needed revenue. As her county stares down a $42 million shortfall, Becker is fighting back.

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MERS Registry Targeted by Local Land Offices Over Lost Fees

For Nancy J. Becker, recorder of deeds in Montgomery County, Pennsylvania, outside Philadelphia, property records are practically sacred. So much so that her office keeps digital copies of land records dating to 1784 in four separate databases, including one 1,700 miles (2,735 kilometers) away.

If the county seat were leveled tomorrow, she says, “I could still record documents on my laptop on the street corner with a card table.”

Becker may sound tech-savvy, but to some of her constituents’ dismay, she can’t always call up a property with a keystroke and see who holds its note. That’s because more than 200,000 of her records list the lien holder as MERS, the private service that acts as a proxy for banks that bundle and sell off mortgage securities. That can make it all but impossible for a recorder to determine who really holds the paper, Bloomberg Businessweek reports in its Nov. 7 edition.

Homeowners have registered property at municipal land offices for more than 200 years. It used to be that every time a loan changed hands, the bank recorded the new deed holder with the local register for a small fee. In theory, this meant a property owner could walk into the land office and look up who held the note on his house. In reality, the registration process was often slow going, and files piled up partly because many offices stuck with pen and paper long after the rest of the world went digital.

Rest here…

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4closureFraud.org

Comments
3 Responses to “NOT Sharon Bock | MERS Registry Targeted by Local Recorders of Deeds Over Lost Fees”
  1. Stupendous Man - Defender of Liberty, Foe of Tyranny says:

    http://signon.org/sign/jack-conway-oppose-the

    A petition to encourage Kentucky Attorney General Jack Conway to do his job and enforce the law, holding criminals accountable, and NOT grant them immunity for criminal acts.

  2. marilyn lane says:

    does anyone know the name of the new york city Registrar of Deeds?

    The only info I can get on their webpage is County Clerk -no name
    thanks

  3. talktotennessee says:

    Discrediting MERS is essential. Absolutely necessary to gain any leverage for homeowners. Once investors have been granted immunity by Attorneys General, which the Obama administration is pushing, it will be over for homeowners. Banks will foreclose, hands down, dumping REOs on the market nationwide through MERS or whoever, legal or otherwise knowing Homeowners can’t challenge their illegal documentation. It would be up to homeowners and most will never have enough information relevant to their loss nor the money to hire legal help to enforce it if they did. It will happen unless something or someone stops it. Encourage everyone to challenge MERS legality and authority to foreclose. Challenge the AGs settlement and support Beau Biden of DE, Schneiderman of NY, Becker of PA and others to take this illegal construct DOWN in the courts!

    Even if you dislike Obama, tell him in the petition to not sell us out by pushing settlement with AGS. Pass it on!
    Sign Credo’s petition today to tell Obama not to sell us out in the settlement with AGS. Pass this link on to fb, friends and let us boost Credo’s petition to Obama to let him know we are still here and we have a vote!
    http://act.credoaction.com/campaign/obama_ws/index.html?rc=confemail&r_by=29865-3939775-Jjf_CJx&rd=1

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