County hires firm to investigate filings
NORMAN — Cleveland County commissioners on Monday hired a law firm to investigate whether a banking system systematically failed to pay mortgage filing fees to the county clerk.
Commissioners Rod Cleveland and Rusty Sullivan said national banking companies joined the Mortgage Electronic Registration System (MERS) Inc., a private enterprise that started in 1997, to handle records of mortgage transactions.
The problem, Cleveland said, is that “any time a mortgage is touched, any transaction at all, then there should be a filing fee paid to the county.”
MERS keeps records electronically, so there is no paper involved.
But Cleveland said there are national estimates of MERS handling about 60 percent of mortgage transactions, and Cleveland County had about 55,000 of them between 1999 and 2009.
Rest here…
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Only two counties have filed lawsuits (I believe is just 2 at last check) in Michigan. Where the heck are the other counties? I swear….
Even more so – what is up with the Attorney General’s Office in MI (and other states)? Such massive fraud and yet they are all twiddling their thumbs. It just floors me to know end.
A little off topic, look who has raised their head above the bunker again.
http://livinglies.wordpress.com/2011/10/25/meet-senator-michelle-reagan-at-macayos-tonight-in-phoenix-7pm/#comments
Apparently there are some who are supposed to be on the side of the righteous that think
she should be able to walk away from the dubious way her mortgage ended up being
handled, and walking away smelling like a rose.
Thank you, all county recorders, who have the intelligence to hop on the ANTI-MERS/ANTI-FRAUD Bandwagon. Thank you. Thank you. Thank you.
There are 3 or 4 of the larger counties in Texas now readying to sue MERS.
This is a good thing.
Absolutely! The more the merrier! Let’s CRUSH the MERS shell game, pea included (or was there even in pea under the shell…ANYWHERE?)
At this point so many of us know about banksters avoiding filing or tax fees through MERS…….that one might ask……”how come there hasn’t been a strong effort by now to fully investigate this illegal shell company……and the people who misuse it!”