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Mers: Creating Efficiencies Or Clouding Titles? Examining Challenges To The Mortgage Electronic Registration System, Christian Carson
Mers: Creating Efficiencies Or Clouding Titles? Examining Challenges To The Mortgage Electronic Registration System, Christian Carson
Christian Carson
The Mortgage Electronic Registration System has recently come under fire amidst the recent foreclosure crisis. Since MERS is mortgagee of record to more than 60 million mortgages in the United States, the question as to whether it has standing to foreclose on defaulted loans presents a hurdle to the speedy recovery of the housing market.
It is likely that the MERS framework is a sound one that complies with longstanding principles of property and agency law. Examination of the controlling Supreme Court case Carpenter v. Longan and Restatement commentary reveals that a separation of the mortgage and the note does …