Loan Servicers Waver on MERS as Courts Question Registry’s Status
November 9, 2009
Recent adverse state court decisions in Kansas and Massachusetts have caused mortgage servicers’ confidence in the Mortgage Electronics Registration System to falter, according to Moody’s Investors Service. In a recent analysis, the credit rating agency said that because of the rulings, private-label securitization servicers are forced to alter their foreclosure and bankruptcy...