Texas | Rusk County Court Approves Legal Action Against Mortgage Electronic Registration Systems (MERS)

Rusk County court approves legal action against electronic mortgage registry

HENDERSON — The Rusk County Commissioners Court approved a contract Monday with the Mann Law Firm for legal action against MERS, Mortgage Electronic Registration Systems.

MERS is a privately held company that operates an electronic registry designed to track servicing rights and ownership of mortgage loans in the United States.

Real estate transactions are subject to state regulations and county level recordation requirements. MERS maintains that its process eliminates the need to file assignments in the county land records which lowers costs for lenders and consumers by reducing county recording fee expenses resulting from real estate transfers and provides a central source of information and tracking for mortgage loans.

County Clerk Joyce Lewis-Kugle said MERS is causing Rusk County to lose both revenue and a clear chain of title to property in its boundaries.

County Judge Joel Hale said it will not cost the county anything to file the suit, because the Mann Firm is taking the case strictly on contingency, meaning the firm will collect from MERS if it wins and absorb the losses if it loses. Other counties throughout the country have been successful in suits against MERS, he said.

“Win or lose, it won’t cost us anything, and if we’re successful it will clear up any confusion regarding titles to property and, possibly, increase county revenues,” Hale said.

The motion passed unanimously.

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4closureFraud.org

Comments
2 Responses to “Texas | Rusk County Court Approves Legal Action Against Mortgage Electronic Registration Systems (MERS)”
  1. Linda says:

    Craig Watson, the Dallas Texas county DA began an investigation of MERS recently and his complaint includes all 254 Texas counties. I had a long/detailed conversation with one of the investigative attorney’s last week, they are hoping to nail this case and are looking for additional stories from the homeowner’s point of view. If you live in Texas and your mortgage servicer changed alot, you should check your county court records to see what has been recorded to the property title. If there are missing Assignments in the county records, you should take notes and contact Mr. Watson’s office.

  2. Hell No - No More Bleeping Bankster Bailouts says:

    I like the law firm having ‘skin in the game’ to win the case. Unless they are bought off (as has happened in individual law suits), they only get compensation if they win.

    I just hope they are a firm that is above being bought by the opposition’s deep coffers.

    The ‘locals’ will do well to monitor this case. Perhaps they should have their law firm get in touch with some of the noted firms elsewhere such as ICE in FL (just one notable suggested firm).

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