MERS® provides numerou s benefits to U.S. housing finance. Use the links below to obtain real facts about the company:
- Quick Facts – MERSCORP Holdings, Inc. is a privately held corporation that owns and manages the MERS® System and all other MERS® products. It is a member-based organization made up of about 3,000 lenders, servicers, sub-servicers, investors and government institutions.
- MERS® Today– Mortgage Electronic Registration Systems, Inc. (MERS®) serves as mortgagee in the land records for loans registered on the MERS® System, and is a nominee (or agent) for the owner of the promissory note.
- Myths v. Facts– Myth #1: MERS has failed to record transfers of mortgage loans in the public land records. FACT: At closing, the lender and borrower agree to appoint MERS as the mortgagee on the mortgage or deed of trust. This means that when a MERS® System member sells the loan to another MERS® System member, only the promissory note – and not the mortgage – transfers, because the mortgage is grounded in the name of MERS.
- The Myths and Merits of MERS – This paper, written by Patrick C. Sargent and Mark W. Harris of the Andrews Kurth Law Firm, provides background and legal analysis on the MERS® System and addresses some of the more prevalent myths and misconceptions.
FAQ – Read more frequently asked questions here