2009-09-15housingwire.com

"A ruling by the Kansas Supreme Court determined Mortgage Electronic Registration Systems (MERS) was not a “necessary party” in a mortgage foreclosure proceeding initiated by a first lien holder. MERS acts as the representative for lenders and services in county land records for mortgages registered with the company. MERS keeps track of the loan, even when servicing rights are traded or sold, and notifies lender and servicer clients of action against the property."


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