Daniels v. U.S. Bank N.A | MERS, U.S. Bank Sued by Illinois Man Over Property Records

MERS, U.S. Bank Sued by Illinois Man Over Property Records

Mortgage Electronic Registration Systems Inc. and lender U.S. Bank NA were sued by an Illinois man who claims they have contributed to a statewide degradation of real property records.

Charles E. Daniels, a homeowner in suburban Hoffman Estates, filed a complaint today in state court in Chicago, seeking an order that would block banks from using MERS in lieu of publicly recording loan-related documents.

MERS and its co-defendant and corporate parent Merscorp Holdings Inc. operate a privately-managed database through which lenders can convey mortgage interests without having to record a corresponding document with a public recorder’s office, where MERS may be listed as the lender’s “nominee.”

Daniels said he’s suing on behalf of all other state residents who have obtained a mortgage from the US Bancorp (USB) unit or any other member of the MERS system since 2002.

“As a result of the creation and maintenance of MERS, the public recording system is no longer a reliable source for tracking the chain of title for property,” according to Daniels’ complaint.

Rest here…

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4closureFraud.org

Comments
One Response to “Daniels v. U.S. Bank N.A | MERS, U.S. Bank Sued by Illinois Man Over Property Records”
  1. Go get them Mr.Daniels and when you have won take your knowledge and share so that everyone has a crack at these A$$e$.

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