http://www.nationalmortgagenews.com/dailybriefing/2010_210/lenders-turning-backs-1021895-1.html
Which JP Morgan Chase did 2 years ago, because they KNEW that MERS was not a legally valid Title Recorder.
With more borrowers filing legal challenges to foreclosure, many mortgage lenders have turned their back on using MERSCORP Inc., which operates an electronic loan registry, to bring foreclosure actions. Some lenders are even returning to the old-fashioned, paper-based system of physically recording mortgage assignments at county recorder offices to ensure an unbroken chain of title.
