Biden Secures Reforms from National Mortgage Registry
Settlement terms increase transparency and accuracy of mortgage records
Wilmington, DE – Delaware Attorney General Beau Biden announced today that the national shadow mortgage registry known as MERS, which was at the center of the housing crisis, has agreed to implement important reforms – including regular reports on the accuracy of its records – as part of a settlement of a lawsuit Biden’s office filed against it last year. Biden filed the suit after hearing from homeowners throughout Delaware who were unable to have meaningful conversations about saving their home and who were unable to find out who owned their mortgage.
Full press release below…