http://www.mersinc.org/about/index.aspx
You got it right from the horses mouth,
MERS makes the world paperless, and it holds all the original mortgages.
Except it's not allowed to. It's not human.
And it was endorsed by everybody who is anybody, and main streamed in as an everyday practice.
Then your have the Robo signers who where approving 7-8 thousand foreclosure a month without ever having looked at any of the paper work between 7-8 thousand foreclosure a month and attested that they had by the writ of their signature.
So they all go down together. Their is no getting out of it.
What they did is against the law in any court of the land.
But it can be turned into a country saving opportunity by paying back off our National debt with the free money we now all have.
Because seriously, who is going to continue to pay for something that they can never legally own, because there is no paperwork to ever be able to prove title of ownership.
About MERS
MERS was created by the mortgage banking industry to streamline the mortgage process by using electronic commerce to eliminate paper. Our mission is to register every mortgage loan in the United States on the MERS® System.
Beneficiaries of MERS include mortgage originators, services, warehouse lenders, wholesale lenders, retail lenders, document custodians, settlement agents, title companies, insurers, investors, county recorders and consumers.
MERS acts as nominee in the county land records for the lender and service. Any loan registered on the MERS® System is inoculated against future assignments because MERS remains the nominal mortgagee no matter how many times servicing is traded. MERS as original mortgagee (MOM) is approved by Fannie Mae, Freddie Mac, Ginnie Mae, FHA and VA, California and Utah Housing Finance Agencies, as well as all of the major Wall Street rating agencies.
