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MERS & Securitization

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Hello folks and thank you for joining me for another episode of the ADR-NOW! Internet Radio Webinar.  I am your host, Anthony Johnson.

In this episode, we will talk about MERS and the Securitization process.  MERS, the Mortgage Electronic Registration System has been named the nomiee for the original lender, its successors and assigns for many home mortgages, and we need to talk about how MERS may have impacted your mortgage.

MERS was created to eliminate the need for the executing and recording of assignment of mortgages, with the idea that MERS would be the mortgagee of record.  This would allow MERS to foreclose on the property, and at the same time, assist the lenders in avoiding the recording of Assignments of Beneficiary on loans sold. 

Since neither MERS nor the servicer have a beneficial interest in the note, nor do they receive the income from the payments, and since it is actually an employee of the servicer signing the Assignment in the name of MERS , the Assignment executed by the MERs employee is illegal.  The actual owner of the note has not executed the Assignment to the new party.  An assignment of mortgage in the absences of the assignment and physical delivery of the note will result in a nullity of the assignment.

For more information on MERS and Securitization please contact A. Johnson & Associates, LLC at 888-502-0586 or www.adr-now.com.

DISCLAIMER: We are not attorneys.  We are not engaged in rendering legal advice.  We are Alternative Dispute Resolution Practitioners.  If legal advice is required, the assistance of a competent and qualified legal professional should be obtained.