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MERSCORP Holdings LEI Registration and Renewal Services Now Available to All Mortgage Industry Participants

MERSCORP Holdings LEI Registration and Renewal Services Now Available to All Mortgage Industry Participants

 

FOR IMMEDIATE RELEASE  

CONTACT: Janis Smith
Phone: 703-738-0230
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Reston, Virginia, September 6, 2017—MERSCORP Holdings, Inc. announced today that its Legal Entity Identifier (LEI) Registration and Renewal Services are now available to all mortgage industry participants at www.mersinc.org/lei. MERSCORP Holdings’ LEI services were originally launched on July 1 of this year for MERS® System Members. This latest release provides organizations without a MERS® System Membership the ability to apply for or renew an existing LEI through MERSCORP Holdings’ web-based application.

“We are pleased to expand MERSCORP Holdings’ LEI Registration and Renewal Services to the entire mortgage industry,” said MERSCORP Holdings President & CEO, Bill Beckmann. “As an industry utility, we believe it is our role to facilitate the industry’s compliance with the new Home Mortgage Disclosure Act (HMDA) data requirements, which become effective in January 2018.”

New reporting rules adopted by the Consumer Financial Protection Bureau (CFPB) under the Home Mortgage Disclosure Act (HMDA) require that all HMDA filers report Universal Loan Identifiers (ULIs) for loan applications or loan activities reportable to the CFPB. The LEI is a primary component of the ULI. The web-based LEI application enables MERSCORP Holdings, a provider of e-commerce solutions for the mortgage industry since 1997, to support the mortgage industry’s efforts to comply with the CFPB’s HMDA requirements. MERSCORP Holdings entered into a business relationship earlier this year to utilize the GMEI® Utility making the services possible.

For more information about MERSCORP Holdings’ LEI services please visit www.mersinc.org/lei or send an email to This email address is being protected from spambots. You need JavaScript enabled to view it..

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MERSCORP Holdings, Inc. is a privately held corporation that owns and manages the MERS® System and all other MERS® products. Users of the MERS® System include thousands of 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 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.

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