FOR IMMEDIATE RELEASE
CONTACTS: Janis Smith Jason Lobo
Phone: 703.738.0230 Phone: 703.652.1660
Reston, VA, July 13, 2012 – “We are pleased to have come to an agreement with the State of Delaware that both serves the best interests of Delaware homeowners and protects the value MERSCORP Holdings brings to its members. The agreed upon measures are consistent with steps we’ve taken nationally to improve offerings to our constituencies and are natural outcomes of our responsiveness to the rapidly changing market-reform environment. With this matter now resolved, MERSCORP Holdings, Inc. and Mortgage Electronic Registration Systems, Inc. (MERS) will continue to provide value to U.S. housing finance, state and local governments and to homeowners.”
A copy of the settlement agreement can be found here.
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 approximately 3,000 lenders, servicers, sub-servicers, investors and government institutions. Mortgage Electronic Registration Systems, Inc. (MERS) serves as the mortgagee in the land records for loans registered on the MERS® System, and is a nominee (or agent) for the owner(s) of the promissory note. The MERS® System is a national electronic database that tracks changes in mortgage servicing and beneficial ownership interests in residential mortgage loans on behalf of its members.
For materials pertaining to MERS’ business model and its role in U.S. housing, please visit www.mersinc.org.