The MERS® eRegistry is the legal system of record that identifies the owner (Controller) and custodian (Location) for registered eNotes and that provides greater liquidity, transferability and security for lenders.
Why the MERS® eRegistry?
The MERS® eRegistry is essential in the eMortgage world. It saves money and prevents confusion about who owns the eNote. Lenders today are closing eNotes and selling them into the secondary market through the MERS® eRegistry. When selling eNotes to Fannie Mae and Freddie Mac, both agencies require that lenders use the MERS® eRegistry.
The MERS® eRegistry is one of multiple functions utilized by Participants to satisfy the control requirement of Section 201(c) of the E-SIGN Act and Section 16(c) of the UETA with respect to a transferrable record (“eNote”). Its role is to be the authorized source to identify the party that has Control of the eNote and the Location (i.e., the party that maintains the Authoritative Copy of the eNote). Each Participant is responsible for determining that all the functions, including the MERS® eRegistry as set forth herein, utilized by the Participant and its service provider(s) constitute a system that satisfies the control requirements of Section 201(c) of the E-SIGN Act and Section 16(c) of the UETA.
What is MERS® eDelivery?
MERS® eDelivery provides a secure method for distributing eMortgage packages from one MERS® eRegistry user to another, using the existing MERS® eRegistry infrastructure and transaction security requirements.
Usage of the MERS® eRegistry requires membership to the MERS® System. To begin your membership process:
- Click pdf here (3.03 MB) to download the MERS® eRegistry brochure.
- Click here for information on becoming a MERS® System Member.
- Click here to contact your regional director to answer your questions on becoming a MERS® System Member and user of the MERS® eRegistry.
We look forward to helping you become a MERS® eRegistry user.