MERS Says It Will Notify Residential Mortgagors of Transfers.

Posted By Cliff Tuttle | June 10, 2009

Posted by Cliff Tuttle (c) 2009

Mortgage Electronic Recording Systems (MERS), the entity that keeps electronic records of assignments of mortgages, announced in a recent press release that it will notify mortgagors of residential properties of transfers of ownership, in compliance with 2009 amendments to Federal Truth In Lending requirements. It should be noted that many lawyers assert that transfer on the records of MERS, which are not public information, is not sufficient to grant standing for the assignee to commence mortgage foreclosure.

CLT

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CLIFF TUTTLE has been a Pennsylvania lawyer for over 45 years and (inter alia) is a real estate litigator and legal writer. The posts in this blog are intended to provide general information about legal topics of interest to lawyers and consumers with a Pittsburgh and Western Pennsylvania focus. However, this information does not constitute legal advice and there is no lawyer-client relationship created when you read this blog. You are encouraged to leave comments but be aware that posted comments can be read by others. If you wish to contact me in privacy, please use the Contact Form located immediately below this message. I will reply promptly and in strict confidence.

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